Rice Hall James & Associates LLC increased its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 27.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 279,382 shares of the biotechnology company’s stock after buying an additional 59,882 shares during the period. Ligand Pharmaceuticals accounts for approximately 1.5% of Rice Hall James & Associates LLC’s portfolio, making the stock its 7th largest position. Rice Hall James & Associates LLC’s holdings in Ligand Pharmaceuticals were worth $33,917,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS boosted its position in shares of Ligand Pharmaceuticals by 0.8% in the first quarter. Kornitzer Capital Management Inc. KS now owns 63,065 shares of the biotechnology company’s stock worth $6,675,000 after buying an additional 510 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in shares of Ligand Pharmaceuticals by 34.1% in the first quarter. Tocqueville Asset Management L.P. now owns 27,116 shares of the biotechnology company’s stock worth $2,870,000 after buying an additional 6,900 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp boosted its position in shares of Ligand Pharmaceuticals by 46.6% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 12,462 shares of the biotechnology company’s stock worth $1,319,000 after buying an additional 3,960 shares in the last quarter. Granite Investment Partners LLC boosted its position in shares of Ligand Pharmaceuticals by 25.4% in the first quarter. Granite Investment Partners LLC now owns 101,938 shares of the biotechnology company’s stock worth $10,789,000 after buying an additional 20,622 shares in the last quarter. Finally, Court Place Advisors LLC boosted its position in shares of Ligand Pharmaceuticals by 0.5% in the first quarter. Court Place Advisors LLC now owns 21,869 shares of the biotechnology company’s stock worth $2,315,000 after buying an additional 100 shares in the last quarter.

Ligand Pharmaceuticals Incorporated (NASDAQ LGND) opened at 124.98 on Friday. The company has a 50-day moving average price of $121.37 and a 200-day moving average price of $111.65. The company has a market capitalization of $2.63 billion, a PE ratio of 304.83 and a beta of 0.96. Ligand Pharmaceuticals Incorporated has a one year low of $87.50 and a one year high of $129.94.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.42. The company had revenue of $28 million for the quarter, compared to analyst estimates of $24.40 million. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The firm’s quarterly revenue was up 43.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. Analysts expect that Ligand Pharmaceuticals Incorporated will post $2.95 earnings per share for the current fiscal year.

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A number of brokerages recently commented on LGND. TheStreet raised Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday. Stephens reaffirmed an “overweight” rating and issued a $137.00 target price (up from $125.00) on shares of Ligand Pharmaceuticals in a report on Wednesday. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Finally, Roth Capital raised their target price on Ligand Pharmaceuticals from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $133.71.

In other Ligand Pharmaceuticals news, VP Charles S. Berkman sold 18,625 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $126.96, for a total transaction of $2,364,630.00. Following the sale, the vice president now directly owns 24,423 shares in the company, valued at approximately $3,100,744.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John L. Higgins sold 5,483 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $125.00, for a total transaction of $685,375.00. Following the sale, the chief executive officer now owns 144,654 shares in the company, valued at $18,081,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,874 shares of company stock worth $5,766,176. 14.70% of the stock is owned by company insiders.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.

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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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