Timpani Capital Management LLC raised its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 108.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,434 shares of the biotechnology company’s stock after purchasing an additional 16,346 shares during the quarter. Ligand Pharmaceuticals comprises 1.4% of Timpani Capital Management LLC’s holdings, making the stock its 26th biggest position. Timpani Capital Management LLC owned approximately 0.15% of Ligand Pharmaceuticals worth $3,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Alliancebernstein L.P. increased its stake in Ligand Pharmaceuticals by 19.9% during the 2nd quarter. Alliancebernstein L.P. now owns 46,059 shares of the biotechnology company’s stock valued at $5,592,000 after purchasing an additional 7,660 shares in the last quarter. Campbell Newman Asset Management Inc. increased its stake in Ligand Pharmaceuticals by 4.8% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 2,494 shares of the biotechnology company’s stock valued at $303,000 after purchasing an additional 114 shares in the last quarter. Swiss National Bank increased its stake in Ligand Pharmaceuticals by 7.1% during the 2nd quarter. Swiss National Bank now owns 34,900 shares of the biotechnology company’s stock valued at $4,237,000 after purchasing an additional 2,300 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Ligand Pharmaceuticals by 7.7% during the 2nd quarter. Eagle Asset Management Inc. now owns 490,841 shares of the biotechnology company’s stock valued at $59,588,000 after purchasing an additional 35,289 shares in the last quarter. Finally, Willingdon Wealth Management increased its stake in Ligand Pharmaceuticals by 1.4% during the 2nd quarter. Willingdon Wealth Management now owns 14,204 shares of the biotechnology company’s stock valued at $1,724,000 after purchasing an additional 193 shares in the last quarter.

Ligand Pharmaceuticals Incorporated (NASDAQ LGND) traded up 0.89% during mid-day trading on Friday, hitting $136.68. 235,855 shares of the stock were exchanged. The company has a 50 day moving average price of $126.04 and a 200 day moving average price of $114.93. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 333.37 and a beta of 0.99. Ligand Pharmaceuticals Incorporated has a 52-week low of $87.50 and a 52-week high of $137.06.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Monday, August 7th. The biotechnology company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.42. The business had revenue of $28 million for the quarter, compared to analysts’ expectations of $24.40 million. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The company’s quarterly revenue was up 43.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 EPS. On average, analysts anticipate that Ligand Pharmaceuticals Incorporated will post $2.95 EPS for the current year.

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A number of research analysts have issued reports on the stock. BidaskClub lowered shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG reiterated a “hold” rating and issued a $103.00 price objective (up previously from $100.00) on shares of Ligand Pharmaceuticals in a research note on Monday, July 17th. ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Stephens reiterated an “overweight” rating and issued a $137.00 price objective (up previously from $125.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 9th. Finally, Roth Capital increased their price objective on shares of Ligand Pharmaceuticals from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $132.29.

In other news, CEO John L. Higgins sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $130.00, for a total value of $650,000.00. Following the transaction, the chief executive officer now directly owns 144,171 shares of the company’s stock, valued at approximately $18,742,230. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John L. Higgins sold 4,666 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $120.00, for a total transaction of $559,920.00. Following the completion of the transaction, the chief executive officer now directly owns 143,837 shares in the company, valued at $17,260,440. The disclosure for this sale can be found here. Insiders sold a total of 41,874 shares of company stock worth $5,293,716 over the last ninety days. Corporate insiders own 14.70% of the company’s stock.

Ligand Pharmaceuticals 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.

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

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