Chicago Capital LLC Has $58.30 Million Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Chicago Capital LLC raised its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 0.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 554,517 shares of the biotechnology company's stock after acquiring an additional 2,929 shares during the period. Ligand Pharmaceuticals comprises 1.6% of Chicago Capital LLC's portfolio, making the stock its 27th biggest position. Chicago Capital LLC owned about 2.88% of Ligand Pharmaceuticals worth $58,302,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LGND. Opal Wealth Advisors LLC bought a new stake in Ligand Pharmaceuticals during the first quarter worth $32,000. Smartleaf Asset Management LLC raised its holdings in shares of Ligand Pharmaceuticals by 119.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 221 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Ligand Pharmaceuticals in the 4th quarter valued at about $43,000. Redwood Park Advisors LLC bought a new position in Ligand Pharmaceuticals during the fourth quarter worth about $48,000. Finally, Sterling Capital Management LLC increased its position in Ligand Pharmaceuticals by 825.4% during 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 last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Analysts Set New Price Targets

LGND has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on Ligand Pharmaceuticals from $142.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Wall Street Zen cut shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Finally, Stifel Nicolaus assumed coverage on shares of Ligand Pharmaceuticals in a research report on Thursday, April 10th. They issued a "buy" rating and a $143.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $146.14.

Ligand Pharmaceuticals Stock Down 2.1%

Shares of Ligand Pharmaceuticals stock traded down $2.47 during trading on Tuesday, reaching $112.54. The company's stock had a trading volume of 123,652 shares, compared to its average volume of 116,556. The business's 50-day moving average price is $105.84 and its 200-day moving average price is $110.46. Ligand Pharmaceuticals Incorporated has a 52 week low of $77.53 and a 52 week high of $129.90. The firm has a market cap of $2.17 billion, a PE ratio of 44.84 and a beta of 0.83.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.10. Ligand Pharmaceuticals had a net margin of 29.68% and a return on equity of 4.95%. The business had revenue of $45.33 million during the quarter, compared to analysts' expectations of $37.84 million. During the same quarter in the previous year, the company earned $3.84 EPS. Equities analysts predict that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current year.

Insider Buying and Selling

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza acquired 1,500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $104.06 per share, with a total value of $156,090.00. Following the completion of the purchase, the chief financial officer now directly owns 27,932 shares of the company's stock, valued at $2,906,603.92. This represents a 5.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd C. Davis bought 9,510 shares of the firm's stock in a transaction on Friday, May 9th. The stock was acquired at an average price of $105.20 per share, for a total transaction of $1,000,452.00. Following the transaction, the chief executive officer now owns 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 disclosure for this purchase can be found here. 7.00% of the stock is currently owned by company insiders.

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.