Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Stock Holdings Reduced by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lowered its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 607,222 shares of the biotechnology company's stock after selling 5,560 shares during the period. Stephens Investment Management Group LLC owned approximately 3.15% of Ligand Pharmaceuticals worth $63,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Ligand Pharmaceuticals by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company's stock worth $223,475,000 after acquiring an additional 115,005 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Ligand Pharmaceuticals by 0.6% in the 4th quarter. Janus Henderson Group PLC now owns 1,015,023 shares of the biotechnology company's stock worth $108,757,000 after acquiring an additional 5,929 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Ligand Pharmaceuticals by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 723,019 shares of the biotechnology company's stock worth $77,470,000 after acquiring an additional 16,003 shares in the last quarter. Congress Asset Management Co. increased its holdings in Ligand Pharmaceuticals by 3.4% in the 1st quarter. Congress Asset Management Co. now owns 642,712 shares of the biotechnology company's stock worth $67,575,000 after acquiring an additional 21,230 shares in the last quarter. Finally, Chicago Capital LLC increased its holdings in Ligand Pharmaceuticals by 0.5% in the 1st quarter. Chicago Capital LLC now owns 554,517 shares of the biotechnology company's stock worth $58,302,000 after acquiring an additional 2,929 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Price Performance

Shares of LGND stock traded up $5.22 during trading hours on Monday, hitting $126.92. The stock had a trading volume of 140,898 shares, compared to its average volume of 116,742. The stock's 50 day moving average is $109.40 and its 200 day moving average is $110.20. Ligand Pharmaceuticals Incorporated has a twelve month low of $90.29 and a twelve month high of $129.90. The firm has a market capitalization of $2.45 billion, a PE ratio of -17.83 and a beta of 0.84.

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

Insiders Place Their Bets

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza acquired 1,500 shares of the company's stock in a transaction on Friday, May 9th. The shares were bought at an average cost of $104.06 per share, for a total transaction of $156,090.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd C. Davis purchased 9,510 shares of the stock in a transaction dated Friday, May 9th. The stock was purchased at an average price of $105.20 per share, with a total value of $1,000,452.00. Following the completion of the acquisition, the chief executive officer directly owned 161,234 shares in the company, valued at approximately $16,961,816.80. The trade was a 6.27% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 2,934 shares of company stock valued at $335,060 in the last quarter. Corporate insiders own 7.00% of the company's stock.

Wall Street Analyst Weigh In

LGND has been the subject of several recent analyst reports. Stifel Nicolaus began coverage on Ligand Pharmaceuticals in a research note on Thursday, April 10th. They issued a "buy" rating and a $143.00 price target for the company. Oppenheimer upped their price target 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 downgraded shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research note 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $147.17.

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.