AQR Capital Management LLC Has $407,000 Stock Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

AQR Capital Management LLC cut its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 78.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,924 shares of the biotechnology company's stock after selling 17,641 shares during the period. AQR Capital Management LLC's holdings in Ligand Pharmaceuticals were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LGND. Vanguard Group Inc. raised its position in shares of Ligand Pharmaceuticals by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 1,876,514 shares of the biotechnology company's stock valued at $134,021,000 after purchasing an additional 24,653 shares during the period. SG Americas Securities LLC acquired a new position in Ligand Pharmaceuticals during the 1st quarter worth $809,000. Sei Investments Co. boosted its holdings in Ligand Pharmaceuticals by 224.1% during the first quarter. Sei Investments Co. now owns 35,841 shares of the biotechnology company's stock valued at $2,620,000 after acquiring an additional 24,784 shares during the period. Russell Investments Group Ltd. grew its position in shares of Ligand Pharmaceuticals by 155.3% in the first quarter. Russell Investments Group Ltd. now owns 73,161 shares of the biotechnology company's stock valued at $5,348,000 after purchasing an additional 44,499 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Ligand Pharmaceuticals by 7.2% in the second quarter. William Blair Investment Management LLC now owns 202,842 shares of the biotechnology company's stock worth $17,091,000 after purchasing an additional 13,595 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Trading Up 2.7 %

LGND stock traded up $2.77 during midday trading on Wednesday, hitting $107.16. The stock had a trading volume of 109,931 shares, compared to its average volume of 137,117. Ligand Pharmaceuticals Incorporated has a 52 week low of $49.24 and a 52 week high of $112.13. The stock has a 50-day simple moving average of $102.74 and a 200 day simple moving average of $91.24. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 20.73 and a beta of 1.00.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last posted its earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.34. The business had revenue of $41.50 million for the quarter, compared to analysts' expectations of $33.04 million. Ligand Pharmaceuticals had a net margin of 29.69% and a return on equity of 7.91%. The firm's revenue for the quarter was up 57.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. On average, equities analysts forecast that Ligand Pharmaceuticals Incorporated will post 3.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Benchmark raised their target price on Ligand Pharmaceuticals from $95.00 to $110.00 and gave the company a "buy" rating in a report on Monday, August 12th. HC Wainwright restated a "buy" rating and issued a $144.00 price objective on shares of Ligand Pharmaceuticals in a research note on Thursday, August 8th. Oppenheimer assumed coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, October 3rd. They set an "outperform" rating and a $135.00 target price for the company. Craig Hallum raised their price target on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $130.00 price objective on shares of Ligand Pharmaceuticals in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Ligand Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $131.80.

Insider Buying and Selling

In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 1,500 shares of the company's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $106.39, for a total value of $159,585.00. Following the sale, the insider now directly owns 22,534 shares in the company, valued at $2,397,392.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 1,500 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $106.39, for a total value of $159,585.00. Following the transaction, the insider now directly owns 22,534 shares in the company, valued at $2,397,392.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd C. Davis acquired 2,500 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were purchased at an average cost of $97.39 per share, with a total value of $243,475.00. Following the acquisition, the chief executive officer now owns 123,010 shares of the company's stock, valued at approximately $11,979,943.90. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 51,613 shares of company stock worth $5,255,692 in the last 90 days. 5.90% of the stock is owned by company insiders.

Ligand Pharmaceuticals Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.