Chicago Capital LLC Boosts Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Chicago Capital LLC boosted its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 554,517 shares of the biotechnology company's stock after buying an additional 2,929 shares during the quarter. Ligand Pharmaceuticals makes up about 1.6% of Chicago Capital LLC's investment portfolio, making the stock its 27th largest holding. Chicago Capital LLC owned approximately 2.88% of Ligand Pharmaceuticals worth $58,302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Ligand Pharmaceuticals during the 1st quarter valued at approximately $32,000. GF Fund Management CO. LTD. bought a new stake in shares of Ligand Pharmaceuticals during the 4th quarter valued at $43,000. Smartleaf Asset Management LLC lifted its stake in shares of Ligand Pharmaceuticals by 119.5% during the 4th 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 in the last quarter. Redwood Park Advisors LLC purchased a new position in shares of Ligand Pharmaceuticals during the 4th quarter valued at $48,000. Finally, Sterling Capital Management LLC boosted its holdings in Ligand Pharmaceuticals by 825.4% in 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 period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza acquired 1,500 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average price 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 in the company, valued at $2,906,603.92. This trade represents a 5.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Reardon sold 500 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $114.54, for a total value of $57,270.00. Following the completion of the sale, the insider now owns 32,403 shares of the company's stock, valued at $3,711,439.62. This represents a 1.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company's stock.

Ligand Pharmaceuticals Price Performance

Shares of Ligand Pharmaceuticals stock traded down $0.57 during trading on Friday, hitting $114.07. The stock had a trading volume of 259,225 shares, compared to its average volume of 117,419. The stock has a market cap of $2.20 billion, a PE ratio of -16.02 and a beta of 0.83. Ligand Pharmaceuticals Incorporated has a 12 month low of $77.53 and a 12 month high of $129.90. The firm's fifty day simple moving average is $106.50 and its 200-day simple moving average is $110.45.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released 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. Ligand Pharmaceuticals had a negative return on equity of 7.83% and a negative net margin of 73.07%. The firm had revenue of $45.33 million for the quarter, compared to analysts' expectations of $37.84 million. During the same quarter in the prior year, the firm posted $3.84 earnings per share. Analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.