Calamos Advisors LLC Raises Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Calamos Advisors LLC boosted its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 38.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,934 shares of the biotechnology company's stock after purchasing an additional 5,519 shares during the period. Calamos Advisors LLC owned 0.10% of Ligand Pharmaceuticals worth $2,096,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LGND. Opal Wealth Advisors LLC purchased a new position in shares of Ligand Pharmaceuticals during the first quarter valued at approximately $32,000. Smartleaf Asset Management LLC boosted its stake in Ligand Pharmaceuticals by 119.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock valued at $43,000 after buying an additional 221 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Ligand Pharmaceuticals during the 4th quarter worth approximately $43,000. Redwood Park Advisors LLC purchased a new position in shares of Ligand Pharmaceuticals in the 4th quarter valued at $48,000. Finally, Sterling Capital Management LLC grew its stake in Ligand Pharmaceuticals by 825.4% during the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock worth $59,000 after buying an additional 487 shares during the last quarter. Institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Stock Up 5.9%

NASDAQ:LGND traded up $6.83 on Wednesday, reaching $121.95. The stock had a trading volume of 146,425 shares, compared to its average volume of 117,805. Ligand Pharmaceuticals Incorporated has a 1-year low of $87.28 and a 1-year high of $129.90. The company has a market capitalization of $2.35 billion, a P/E ratio of -17.13 and a beta of 0.84. The stock has a fifty day moving average price of $108.59 and a 200-day moving average price of $110.03.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.10. The company had revenue of $45.33 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $3.84 EPS. Sell-side analysts predict that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LGND has been the subject of a number of analyst reports. Stifel Nicolaus began coverage on Ligand Pharmaceuticals in a report on Thursday, April 10th. They issued a "buy" rating and a $143.00 price target for the company. 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, Wall Street Zen cut shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $146.14.

Insider Activity

In related news, CFO Octavio Espinoza acquired 1,500 shares of the stock in a transaction dated Friday, May 9th. The stock was acquired at an average cost of $104.06 per share, for a total transaction of $156,090.00. Following the completion of the purchase, the chief financial officer owned 27,932 shares of the company's stock, valued at approximately $2,906,603.92. This represents a 5.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Reardon sold 1,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $104.00, for a total transaction of $104,000.00. Following the sale, the insider directly owned 32,903 shares of the company's stock, valued at approximately $3,421,912. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,000 shares of company stock valued at $218,310 in the last ninety days. 7.00% of the stock is currently owned by company insiders.

About Ligand Pharmaceuticals

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.