Wealth Enhancement Advisory Services LLC Takes $286,000 Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Wealth Enhancement Advisory Services LLC bought a new stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,665 shares of the biotechnology company's stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LGND. Vanguard Group Inc. boosted its stake in shares of Ligand Pharmaceuticals by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company's stock valued at $223,475,000 after buying an additional 115,005 shares during the period. Janus Henderson Group PLC increased its stake in shares of Ligand Pharmaceuticals by 0.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,015,023 shares of the biotechnology company's stock worth $108,757,000 after buying an additional 5,929 shares during the period. Dimensional Fund Advisors LP raised its holdings in Ligand Pharmaceuticals by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 723,019 shares of the biotechnology company's stock valued at $77,470,000 after acquiring an additional 16,003 shares in the last quarter. Congress Asset Management Co. lifted its stake in Ligand Pharmaceuticals by 2.9% in the fourth quarter. Congress Asset Management Co. now owns 621,482 shares of the biotechnology company's stock worth $66,592,000 after acquiring an additional 17,444 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Ligand Pharmaceuticals by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 438,441 shares of the biotechnology company's stock worth $46,989,000 after acquiring an additional 10,171 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Stock Performance

Shares of LGND stock traded down $1.49 during mid-day trading on Tuesday, hitting $113.52. 9,290 shares of the stock were exchanged, compared to its average volume of 116,109. The stock's fifty day simple moving average is $105.84 and its two-hundred day simple moving average is $110.46. Ligand Pharmaceuticals Incorporated has a 12-month low of $77.53 and a 12-month high of $129.90. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 45.24 and a beta of 0.83.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biotechnology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.10. The firm had revenue of $45.33 million for the quarter, compared to the consensus estimate of $37.84 million. Ligand Pharmaceuticals had a return on equity of 4.95% and a net margin of 29.68%. During the same quarter last year, the business posted $3.84 EPS. On average, research analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew Reardon sold 1,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were 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 directly owns 32,903 shares of the company's stock, valued at approximately $3,421,912. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Octavio Espinoza purchased 1,500 shares of the stock in a transaction that occurred 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 now owns 27,932 shares of the company's stock, valued at approximately $2,906,603.92. The trade was a 5.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

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