Calamos Advisors LLC Grows Stock Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Calamos Advisors LLC increased its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 38.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,934 shares of the biotechnology company's stock after buying an additional 5,519 shares during the quarter. Calamos Advisors LLC owned 0.10% of Ligand Pharmaceuticals worth $2,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. US Bancorp DE increased its position in Ligand Pharmaceuticals by 14.8% in the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock valued at $81,000 after acquiring an additional 98 shares during the period. Portside Wealth Group LLC lifted its holdings in Ligand Pharmaceuticals by 3.2% during the 1st quarter. Portside Wealth Group LLC now owns 3,575 shares of the biotechnology company's stock worth $376,000 after buying an additional 112 shares during the period. Mutual of America Capital Management LLC grew its position in shares of Ligand Pharmaceuticals by 4.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 2,862 shares of the biotechnology company's stock valued at $307,000 after buying an additional 115 shares during the last quarter. Arizona State Retirement System raised its position in shares of Ligand Pharmaceuticals by 2.4% during the fourth quarter. Arizona State Retirement System now owns 5,297 shares of the biotechnology company's stock worth $568,000 after acquiring an additional 125 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Ligand Pharmaceuticals by 3.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,034 shares of the biotechnology company's stock worth $432,000 after acquiring an additional 129 shares during the period. Institutional investors own 91.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Oppenheimer lifted their price objective on Ligand Pharmaceuticals from $142.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Finally, Stifel Nicolaus started coverage on Ligand Pharmaceuticals in a research note on Thursday, April 10th. They issued a "buy" rating and a $143.00 price objective on the stock. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $146.14.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CEO Todd C. Davis bought 9,510 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of $105.20 per share, with a total value of $1,000,452.00. Following the completion of the purchase, the chief executive officer owned 161,234 shares of the company's stock, valued at approximately $16,961,816.80. This represents a 6.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Octavio Espinoza bought 1,500 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $104.06 per share, with a total value of $156,090.00. Following the transaction, the chief financial officer directly owned 27,932 shares in the company, valued at approximately $2,906,603.92. This represents a 5.67% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 2,000 shares of company stock worth $218,310 in the last 90 days. Company insiders own 7.00% of the company's stock.

Ligand Pharmaceuticals Trading Up 1.2%

Shares of NASDAQ:LGND traded up $1.36 during mid-day trading on Tuesday, reaching $115.12. The company had a trading volume of 114,526 shares, compared to its average volume of 117,674. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -16.17 and a beta of 0.84. The company's 50-day moving average price is $108.59 and its 200-day moving average price is $110.03. Ligand Pharmaceuticals Incorporated has a one year low of $87.28 and a one year high of $129.90.

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

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.