Profund Advisors LLC Acquires Shares of 3,155 Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Profund Advisors LLC bought a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,155 shares of the biotechnology company’s stock, valued at approximately $266,000.

A number of other institutional investors have also recently modified their holdings of LGND. Vanguard Group Inc. boosted its position in Ligand Pharmaceuticals by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 1,876,514 shares of the biotechnology company’s stock worth $134,021,000 after purchasing an additional 24,653 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Ligand Pharmaceuticals during the 1st quarter valued at approximately $809,000. Sei Investments Co. grew its stake in Ligand Pharmaceuticals by 224.1% in the 1st 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. increased its holdings in Ligand Pharmaceuticals by 155.3% in the 1st quarter. Russell Investments Group Ltd. now owns 73,161 shares of the biotechnology company’s stock worth $5,348,000 after acquiring an additional 44,499 shares in the last quarter. Finally, William Blair Investment Management LLC raised 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 acquiring an additional 13,595 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Price Performance

LGND opened at $97.37 on Friday. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 18.83 and a beta of 1.01. The company’s 50 day simple moving average is $102.88 and its two-hundred day simple moving average is $88.31. Ligand Pharmaceuticals Incorporated has a 1-year low of $49.24 and a 1-year high of $112.13.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.34. Ligand Pharmaceuticals had a return on equity of 7.91% and a net margin of 29.69%. The company had revenue of $41.50 million for the quarter, compared to analyst estimates of $33.04 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. The firm’s revenue for the quarter was up 57.2% compared to the same quarter last year. On average, equities analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LGND has been the topic of several research analyst reports. Benchmark lifted their target price on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $144.00 price objective on shares of Ligand Pharmaceuticals in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 target price on shares of Ligand Pharmaceuticals in a report on Wednesday, August 7th. Finally, Craig Hallum lifted their price target on Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Ligand Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $131.00.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, COO Matthew E. Korenberg sold 1,157 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $105.54, for a total transaction of $122,109.78. Following the transaction, the chief operating officer now directly owns 67,211 shares of the company’s stock, valued at $7,093,448.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ligand Pharmaceuticals news, COO Matthew E. Korenberg sold 1,157 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $105.54, for a total transaction of $122,109.78. Following the completion of the sale, the chief operating officer now owns 67,211 shares of the company’s stock, valued at $7,093,448.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd C. Davis purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $97.39 per share, for a total transaction of $243,475.00. Following the purchase, the chief executive officer now owns 123,010 shares in the company, valued at $11,979,943.90. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 51,613 shares of company stock valued at $5,255,692. 5.90% of the stock is owned by company insiders.

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.