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

Squarepoint Ops LLC purchased a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 16,799 shares of the biotechnology company's stock, valued at approximately $1,800,000. Squarepoint Ops LLC owned about 0.09% of Ligand Pharmaceuticals at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of LGND. Smartleaf Asset Management LLC increased its position in Ligand Pharmaceuticals by 119.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock worth $43,000 after buying an additional 221 shares during the last quarter. Redwood Park Advisors LLC bought a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth $48,000. Sterling Capital Management LLC boosted its holdings 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 acquiring an additional 487 shares during the period. US Bancorp DE boosted its holdings in shares of Ligand Pharmaceuticals by 14.8% in the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock worth $81,000 after acquiring an additional 98 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Ligand Pharmaceuticals by 317.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 810 shares of the biotechnology company's stock worth $87,000 after acquiring an additional 616 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LGND has been the subject of a number of analyst reports. Wall Street Zen lowered Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Stifel Nicolaus initiated 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. Finally, Oppenheimer lifted their price objective on Ligand Pharmaceuticals from $142.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.14.

Ligand Pharmaceuticals Stock Up 0.7%

NASDAQ:LGND traded up $0.71 during trading hours on Tuesday, hitting $102.35. 83,248 shares of the company's stock traded hands, compared to its average volume of 116,289. The business's fifty day simple moving average is $104.39 and its two-hundred day simple moving average is $111.00. 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 $1.97 billion, a P/E ratio of 40.78 and a beta of 0.87.

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, topping the consensus estimate of $1.23 by $0.10. Ligand Pharmaceuticals had a return on equity of 4.95% and a net margin of 29.68%. The firm had revenue of $45.33 million during the quarter, compared to analyst estimates of $37.84 million. During the same quarter in the previous year, the company posted $3.84 earnings per share. On average, analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current year.

Insiders Place Their Bets

In other news, insider Andrew Reardon sold 1,000 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $104.00, for a total value of $104,000.00. Following the completion of the sale, the insider now owns 32,903 shares of the company's stock, valued at approximately $3,421,912. The trade was a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Octavio Espinoza bought 1,500 shares of the stock in a transaction dated 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 purchase, the chief financial officer now owns 27,932 shares in the company, valued at $2,906,603.92. The trade was a 5.67% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.90% of the company's stock.

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.