Walleye Capital LLC Invests $2.06 Million in Ligand Pharmaceuticals Incorporated $LGND

Walleye Capital LLC acquired a new stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,333 shares of the biotechnology company’s stock, valued at approximately $2,063,000. Walleye Capital LLC owned approximately 0.05% of Ligand Pharmaceuticals as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Maryland State Retirement & Pension System grew its holdings in Ligand Pharmaceuticals by 2.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company’s stock worth $543,000 after purchasing an additional 61 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Ligand Pharmaceuticals by 86.3% during the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 69 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ligand Pharmaceuticals by 3.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,688 shares of the biotechnology company’s stock valued at $527,000 after purchasing an additional 78 shares during the period. Cerity Partners LLC raised its holdings in shares of Ligand Pharmaceuticals by 5.4% during the fourth quarter. Cerity Partners LLC now owns 1,531 shares of the biotechnology company’s stock valued at $289,000 after purchasing an additional 79 shares during the period. Finally, 1492 Capital Management LLC boosted its position in shares of Ligand Pharmaceuticals by 4.4% during the 1st quarter. 1492 Capital Management LLC now owns 1,958 shares of the biotechnology company’s stock worth $391,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Down 0.7%

Ligand Pharmaceuticals stock opened at $302.15 on Friday. Ligand Pharmaceuticals Incorporated has a 1-year low of $129.55 and a 1-year high of $326.63. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 41.00, a price-to-earnings-growth ratio of 3.01 and a beta of 1.10. The firm’s fifty day moving average price is $270.18 and its two-hundred day moving average price is $227.95. The company has a current ratio of 21.28, a quick ratio of 20.95 and a debt-to-equity ratio of 0.45.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Thursday, May 7th. The biotechnology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.21). Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The business had revenue of $51.72 million for the quarter, compared to the consensus estimate of $59.10 million. During the same period in the previous year, the firm earned $1.33 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. On average, equities research analysts predict that Ligand Pharmaceuticals Incorporated will post 4.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, insider Andrew Reardon sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $313.28, for a total value of $1,566,400.00. Following the transaction, the insider owned 41,514 shares in the company, valued at $13,005,505.92. This trade represents a 10.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jason Aryeh sold 4,500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $250.00, for a total value of $1,125,000.00. Following the transaction, the director directly owned 102,580 shares in the company, valued at approximately $25,645,000. The trade was a 4.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 35,698 shares of company stock worth $9,019,252. 5.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LGND has been the subject of several research reports. Stifel Nicolaus raised their target price on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. HC Wainwright upped their price target on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Royal Bank Of Canada increased their price target on Ligand Pharmaceuticals from $262.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Weiss Ratings cut Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Finally, Citigroup initiated coverage on Ligand Pharmaceuticals in a report on Tuesday. They set a “buy” rating and a $387.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $319.00.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.