Envestnet Asset Management Inc. boosted its stake in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 13.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,655 shares of the biotechnology company’s stock after buying an additional 808 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Ligand Pharmaceuticals were worth $905,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio raised its position in Ligand Pharmaceuticals by 225.0% in the 2nd quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock valued at $157,000 after buying an additional 900 shares during the last quarter. First Mercantile Trust Co. raised its position in Ligand Pharmaceuticals by 1.6% in the 2nd quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 20 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at $203,000. Harbor Advisors LLC purchased a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at $204,000. Finally, Round Table Services LLC purchased a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at $205,000.

In related news, CEO John L. Higgins sold 5,269 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $142.53, for a total value of $750,990.57. Following the completion of the sale, the chief executive officer now owns 143,542 shares of the company’s stock, valued at approximately $20,459,041.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Matthew E. Korenberg sold 6,559 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $142.63, for a total value of $935,510.17. Following the completion of the sale, the vice president now directly owns 8,147 shares of the company’s stock, valued at approximately $1,162,006.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,828 shares of company stock valued at $2,395,051. Insiders own 8.30% of the company’s stock.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Roth Capital set a $158.00 target price on Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, November 13th. Craig Hallum reaffirmed a “buy” rating and set a $170.00 target price (up from $160.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 15th. Finally, HC Wainwright set a $159.00 target price on Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $149.67.

Shares of Ligand Pharmaceuticals Inc. (LGND) opened at $136.27 on Thursday. Ligand Pharmaceuticals Inc. has a 12-month low of $95.08 and a 12-month high of $149.31. The stock has a market capitalization of $2,915.93, a price-to-earnings ratio of 103.88, a PEG ratio of 2.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The firm had revenue of $33.38 million during the quarter, compared to analyst estimates of $31.04 million. During the same period last year, the firm posted $0.62 EPS. The business’s revenue was up 54.4% compared to the same quarter last year. sell-side analysts predict that Ligand Pharmaceuticals Inc. will post 2.37 earnings per share for the current year.

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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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