Stephens Investment Management Group LLC reduced its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 0.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 448,278 shares of the biotechnology company’s stock after selling 201 shares during the quarter. Ligand Pharmaceuticals makes up approximately 1.3% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 11th largest position. Stephens Investment Management Group LLC owned about 2.14% of Ligand Pharmaceuticals worth $54,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of LGND. BlackRock Inc. grew its holdings in Ligand Pharmaceuticals by 166,566.2% in the 1st quarter. BlackRock Inc. now owns 2,614,993 shares of the biotechnology company’s stock valued at $276,770,000 after buying an additional 2,613,424 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Ligand Pharmaceuticals by 42.3% in the 1st quarter. William Blair Investment Management LLC now owns 1,728,178 shares of the biotechnology company’s stock valued at $182,910,000 after buying an additional 513,531 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Ligand Pharmaceuticals by 38.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 372,465 shares of the biotechnology company’s stock valued at $45,217,000 after buying an additional 102,892 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Ligand Pharmaceuticals in the 1st quarter valued at $10,702,000. Finally, Gotham Asset Management LLC grew its holdings in Ligand Pharmaceuticals by 246.7% in the 1st quarter. Gotham Asset Management LLC now owns 117,749 shares of the biotechnology company’s stock valued at $12,463,000 after buying an additional 83,784 shares in the last quarter.

Ligand Pharmaceuticals Incorporated (NASDAQ LGND) traded down 0.49% during trading on Monday, hitting $136.01. The stock had a trading volume of 54,286 shares. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 331.73 and a beta of 0.99. Ligand Pharmaceuticals Incorporated has a one year low of $87.50 and a one year high of $137.97. The stock’s 50-day moving average is $126.12 and its 200 day moving average is $115.08.

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

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Several analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $150.00 target price on shares of Ligand Pharmaceuticals in a report on Tuesday, September 5th. ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Stephens reiterated an “overweight” rating and set a $137.00 price target (up from $125.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, August 9th. TheStreet upgraded Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, August 7th. Finally, Deutsche Bank AG increased their price target on Ligand Pharmaceuticals from $103.00 to $104.00 and gave the stock a “hold” rating in a report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $132.29.

In other news, CEO John L. Higgins sold 5,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total value of $650,000.00. Following the completion of the sale, the chief executive officer now owns 144,171 shares in the company, valued at $18,742,230. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew W. Foehr sold 6,100 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $127.51, for a total value of $777,811.00. Following the completion of the sale, the insider now owns 101,020 shares of the company’s stock, valued at approximately $12,881,060.20. The disclosure for this sale can be found here. Insiders sold 41,874 shares of company stock valued at $5,293,716 in the last 90 days. Corporate 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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