Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Acquired by CenterBook Partners LP

CenterBook Partners LP grew its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 190.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,299 shares of the biotechnology company's stock after purchasing an additional 44,760 shares during the quarter. CenterBook Partners LP owned approximately 0.35% of Ligand Pharmaceuticals worth $7,181,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in Ligand Pharmaceuticals during the first quarter valued at about $32,000. GF Fund Management CO. LTD. bought a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth approximately $43,000. Redwood Park Advisors LLC bought a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth approximately $48,000. Sterling Capital Management LLC increased its stake in shares of Ligand Pharmaceuticals by 825.4% in the fourth 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 period. Finally, GAMMA Investing LLC increased its position 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 purchasing an additional 241 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Transactions at Ligand Pharmaceuticals

In related news, CEO Todd C. Davis purchased 9,510 shares of the firm's stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $105.20 per share, with a total value of $1,000,452.00. Following the completion of the acquisition, the chief executive officer owned 161,234 shares of the company's stock, valued at $16,961,816.80. The trade was a 6.27% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Octavio Espinoza purchased 1,500 shares of the firm's stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $104.06 per share, with a total value of $156,090.00. Following the completion of the acquisition, the chief financial officer directly owned 27,932 shares of the company's stock, valued at $2,906,603.92. This trade represents a 5.67% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 2,934 shares of company stock worth $335,060 in the last ninety days. Corporate insiders own 7.00% of the company's stock.

Wall Street Analysts Forecast Growth

LGND has been the topic of a number of research reports. Stifel Nicolaus started coverage on shares of Ligand Pharmaceuticals in a report on Thursday, April 10th. They set a "buy" rating and a $143.00 target price on the stock. Oppenheimer increased their target price on shares of Ligand Pharmaceuticals from $142.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Finally, Wall Street Zen lowered shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Ligand Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $147.17.

Ligand Pharmaceuticals Trading Up 1.1%

Shares of LGND stock traded up $1.53 during trading hours on Friday, reaching $139.10. 346,937 shares of the company's stock were exchanged, compared to its average volume of 119,255. The stock's fifty day moving average price is $111.41 and its two-hundred day moving average price is $110.78. The stock has a market cap of $2.68 billion, a PE ratio of -19.54 and a beta of 0.84. Ligand Pharmaceuticals Incorporated has a 1 year low of $90.29 and a 1 year high of $139.53.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its earnings results 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 firm had revenue of $45.33 million for the quarter, compared to analyst estimates of $37.84 million. Ligand Pharmaceuticals had a negative return on equity of 7.83% and a negative net margin of 73.07%. During the same quarter in the prior year, the firm earned $3.84 earnings per share. On average, equities analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current fiscal year.

Ligand Pharmaceuticals 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.