Chicago Capital LLC Acquires 30,875 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Chicago Capital LLC grew its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 545,821 shares of the biotechnology company's stock after buying an additional 30,875 shares during the quarter. Ligand Pharmaceuticals makes up about 1.5% of Chicago Capital LLC's investment portfolio, making the stock its 29th largest holding. Chicago Capital LLC owned approximately 3.03% of Ligand Pharmaceuticals worth $54,631,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Ligand Pharmaceuticals by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,884,112 shares of the biotechnology company's stock valued at $137,729,000 after buying an additional 7,598 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ligand Pharmaceuticals by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company's stock valued at $59,707,000 after acquiring an additional 44,543 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in Ligand Pharmaceuticals by 4.5% in the 2nd quarter. Rice Hall James & Associates LLC now owns 292,475 shares of the biotechnology company's stock worth $24,644,000 after purchasing an additional 12,691 shares during the last quarter. William Blair Investment Management LLC boosted its position in Ligand Pharmaceuticals by 7.2% during 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. Finally, Ashford Capital Management Inc. acquired a new position in Ligand Pharmaceuticals during the first quarter valued at approximately $14,367,000. Institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Stock Performance

Shares of LGND stock traded up $0.50 during trading hours on Friday, hitting $106.39. The company had a trading volume of 53,604 shares, compared to its average volume of 136,386. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 20.58 and a beta of 1.00. Ligand Pharmaceuticals Incorporated has a 12 month low of $49.24 and a 12 month high of $112.13. The firm's fifty day moving average is $103.04 and its 200 day moving average is $91.69.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.34. The business had revenue of $41.50 million during 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 last year, the company posted $1.10 EPS. On average, sell-side analysts expect that Ligand Pharmaceuticals Incorporated will post 3.73 EPS for the current fiscal year.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CEO Todd C. Davis purchased 2,500 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The stock was 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 directly owns 123,010 shares of the company's stock, valued at approximately $11,979,943.90. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Todd C. Davis bought 2,500 shares of the company's stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $97.39 per share, with a total value of $243,475.00. Following the completion of the purchase, the chief executive officer now owns 123,010 shares in the company, valued at approximately $11,979,943.90. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Matthew E. Korenberg sold 18,245 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $98.50, for a total transaction of $1,797,132.50. Following the transaction, the chief operating officer now owns 68,368 shares in the company, valued at $6,734,248. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,613 shares of company stock valued at $5,255,692 in the last three months. 5.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

About Ligand Pharmaceuticals

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.