2,519 Shares in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Bought by Pacer Advisors Inc.

Pacer Advisors Inc. purchased a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,519 shares of the biotechnology company's stock, valued at approximately $265,000.

A number of other institutional investors have also recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new stake in Ligand Pharmaceuticals during the first quarter worth approximately $32,000. GF Fund Management CO. LTD. purchased a new position in shares of Ligand Pharmaceuticals in the 4th quarter worth approximately $43,000. Redwood Park Advisors LLC bought a new position in shares of Ligand Pharmaceuticals during the 4th quarter valued at approximately $48,000. Sterling Capital Management LLC increased its position in shares of Ligand Pharmaceuticals by 825.4% during the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock valued at $59,000 after purchasing an additional 487 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Ligand Pharmaceuticals by 68.5% during the 1st quarter. GAMMA Investing LLC now owns 593 shares of the biotechnology company's stock valued at $62,000 after buying an additional 241 shares during the period. Institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Stock Up 0.9%

Shares of Ligand Pharmaceuticals stock opened at $132.72 on Friday. The stock's fifty day moving average is $118.18 and its two-hundred day moving average is $112.78. Ligand Pharmaceuticals Incorporated has a 52 week low of $90.29 and a 52 week high of $143.13. The company has a market capitalization of $2.56 billion, a PE ratio of -18.64 and a beta of 0.85.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biotechnology company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.10. The firm had revenue of $45.33 million for the quarter, compared to analysts' expectations of $37.84 million. Ligand Pharmaceuticals had a negative net margin of 73.07% and a negative return on equity of 7.83%. During the same period in the prior year, the business posted $3.84 earnings per share. As a group, research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on LGND. Wall Street Zen lowered shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Oppenheimer raised their target price on shares of Ligand Pharmaceuticals from $145.00 to $162.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Stifel Nicolaus started coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, April 10th. They set a "buy" rating and a $143.00 price target for the company. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $150.00.

Insider Activity at Ligand Pharmaceuticals

In related news, CEO Todd C. Davis bought 9,510 shares of the company's stock in a transaction on Friday, May 9th. The shares were acquired at an average cost of $105.20 per share, for a total transaction of $1,000,452.00. Following the purchase, the chief executive officer directly owned 161,234 shares of the company's stock, valued at approximately $16,961,816.80. The trade was a 6.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew Reardon sold 500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $114.08, for a total transaction of $57,040.00. Following the sale, the insider directly owned 31,903 shares of the company's stock, valued at $3,639,494.24. This represents a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,934 shares of company stock valued at $335,060 in the last quarter. Corporate insiders own 7.00% of the company's stock.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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