LS Investment Advisors LLC continued to hold its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the second quarter, Holdings Channel reports. The institutional investor owned 1,197 shares of the biotechnology company’s stock at the end of the second quarter. LS Investment Advisors LLC’s holdings in Ligand Pharmaceuticals were worth $145,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Tyers Asset Management LLC increased its position in Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 196 shares in the last quarter. Flinton Capital Management LLC increased its position in Ligand Pharmaceuticals by 23.3% in the first quarter. Flinton Capital Management LLC now owns 1,258 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 238 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in Ligand Pharmaceuticals by 1.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,555 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 15 shares in the last quarter. Stephens Inc. AR increased its position in Ligand Pharmaceuticals by 62.6% in the first quarter. Stephens Inc. AR now owns 1,611 shares of the biotechnology company’s stock valued at $171,000 after buying an additional 620 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in Ligand Pharmaceuticals during the first quarter valued at about $174,000.

Shares of Ligand Pharmaceuticals Incorporated (LGND) traded down 0.45% during midday trading on Thursday, hitting $126.40. 68,394 shares of the stock traded hands. Ligand Pharmaceuticals Incorporated has a one year low of $87.50 and a one year high of $129.94. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 308.29 and a beta of 0.96. The firm has a 50-day moving average price of $121.23 and a 200 day moving average price of $111.56.

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

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Several equities analysts have issued reports on LGND shares. TheStreet upgraded shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday. Roth Capital upped their price objective on shares of Ligand Pharmaceuticals from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday. BidaskClub downgraded shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG restated 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. Finally, Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $133.04.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 4,666 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $17,260,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason Aryeh sold 37,247 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $110.76, for a total transaction of $4,125,477.72. Following the transaction, the director now directly owns 58,959 shares of the company’s stock, valued at $6,530,298.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,534 shares of company stock valued at $6,694,514. Insiders own 14.70% of the company’s stock.

About Ligand Pharmaceuticals

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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