Squarepoint Ops LLC Invests $1.80 Million in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Squarepoint Ops LLC acquired a new stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 16,799 shares of the biotechnology company's stock, valued at approximately $1,800,000. Squarepoint Ops LLC owned approximately 0.09% of Ligand Pharmaceuticals as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its position in 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 during the period. Redwood Park Advisors LLC purchased a new stake in Ligand Pharmaceuticals during the 4th quarter valued at $48,000. Sterling Capital Management LLC boosted its position in Ligand Pharmaceuticals by 825.4% during the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock valued at $59,000 after buying an additional 487 shares during the period. US Bancorp DE boosted its position in Ligand Pharmaceuticals by 14.8% during the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock valued at $81,000 after buying an additional 98 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Ligand Pharmaceuticals by 317.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 810 shares of the biotechnology company's stock valued at $87,000 after buying an additional 616 shares during the period. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insiders Place Their Bets

In other news, CFO Octavio Espinoza bought 1,500 shares of the firm's stock in a transaction on Friday, May 9th. The stock was acquired 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 now owns 27,932 shares of the company's stock, valued at approximately $2,906,603.92. This 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 can be accessed through the SEC website. Also, insider Andrew Reardon sold 1,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $104.00, for a total transaction of $104,000.00. Following the completion of the sale, the insider now owns 32,903 shares of the company's stock, valued at $3,421,912. This represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

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

Ligand Pharmaceuticals Price Performance

NASDAQ LGND traded up $1.04 during trading hours on Tuesday, reaching $102.68. 19,050 shares of the company's stock traded hands, compared to its average volume of 116,088. Ligand Pharmaceuticals Incorporated has a 52-week low of $77.43 and a 52-week high of $129.90. The firm has a market cap of $1.98 billion, a PE ratio of 40.91 and a beta of 0.87. The firm has a 50-day simple moving average of $104.54 and a 200 day simple moving average of $111.06.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its quarterly 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 net margin of 29.68% and a return on equity of 4.95%. The company had revenue of $45.33 million during the quarter, compared to analysts' expectations of $37.84 million. During the same period last year, the company posted $3.84 EPS. Sell-side analysts forecast 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.