Stephens Investment Management Group LLC raised its position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 442,187 shares of the biotechnology company’s stock after buying an additional 16,543 shares during the period. Stephens Investment Management Group LLC’s holdings in Ligand Pharmaceuticals were worth $50,476,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in LGND. Janus Henderson Group PLC raised its stake in shares of Ligand Pharmaceuticals by 40.1% in the first quarter. Janus Henderson Group PLC now owns 1,385,066 shares of the biotechnology company’s stock worth $174,117,000 after acquiring an additional 396,166 shares during the last quarter. Norges Bank bought a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth about $31,990,000. Victory Capital Management Inc. raised its stake in shares of Ligand Pharmaceuticals by 39.6% in the first quarter. Victory Capital Management Inc. now owns 655,690 shares of the biotechnology company’s stock worth $82,428,000 after acquiring an additional 186,090 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Ligand Pharmaceuticals by 37.7% in the first quarter. The Manufacturers Life Insurance Company now owns 557,512 shares of the biotechnology company’s stock worth $70,085,000 after acquiring an additional 152,649 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Ligand Pharmaceuticals by 27.6% in the first quarter. Conestoga Capital Advisors LLC now owns 621,006 shares of the biotechnology company’s stock worth $78,067,000 after acquiring an additional 134,173 shares during the last quarter.

Shares of LGND traded down $1.28 on Thursday, reaching $92.32. 7,750 shares of the company’s stock were exchanged, compared to its average volume of 469,734. The company has a debt-to-equity ratio of 0.60, a current ratio of 13.23 and a quick ratio of 13.15. The stock has a market cap of $1.78 billion, a PE ratio of 14.73, a P/E/G ratio of 1.99 and a beta of 1.30. The stock’s 50 day simple moving average is $107.41. Ligand Pharmaceuticals Inc. has a 12 month low of $88.23 and a 12 month high of $278.62.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.30. The business had revenue of $24.99 million during the quarter, compared to the consensus estimate of $21.01 million. Ligand Pharmaceuticals had a net margin of 389.58% and a return on equity of 11.24%. Ligand Pharmaceuticals’s revenue for the quarter was down 72.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.59 earnings per share. As a group, equities analysts forecast that Ligand Pharmaceuticals Inc. will post 2.28 EPS for the current fiscal year.

LGND has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. BidaskClub downgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, August 2nd. Argus set a $140.00 target price on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, June 10th. ValuEngine downgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $214.00 target price (down from $254.00) on shares of Ligand Pharmaceuticals in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Ligand Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $165.83.

In other Ligand Pharmaceuticals news, Director Sunil Patel purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $95.98 per share, with a total value of $95,980.00. Following the completion of the purchase, the director now directly owns 26,359 shares in the company, valued at approximately $2,529,936.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jason Aryeh purchased 4,004 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average cost of $99.22 per share, with a total value of $397,276.88. Following the completion of the purchase, the director now owns 61,953 shares of the company’s stock, valued at $6,146,976.66. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 9,600 shares of company stock valued at $955,507. 8.40% of the stock is currently owned by insiders.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; Aziyo portfolio of commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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

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