Brown Advisory Inc. Invests $554,000 in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Brown Advisory Inc. acquired a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDFree Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 7,757 shares of the biotechnology company’s stock, valued at approximately $554,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Ligand Pharmaceuticals by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 661,298 shares of the biotechnology company’s stock worth $47,230,000 after buying an additional 46,906 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth about $53,000. Charles Schwab Investment Management Inc. boosted its position in shares of Ligand Pharmaceuticals by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 161,480 shares of the biotechnology company’s stock worth $11,533,000 after buying an additional 4,293 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Ligand Pharmaceuticals by 48.2% in the 4th quarter. Fisher Asset Management LLC now owns 49,297 shares of the biotechnology company’s stock valued at $3,521,000 after purchasing an additional 16,035 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Ligand Pharmaceuticals by 22.8% in the 4th quarter. Victory Capital Management Inc. now owns 21,385 shares of the biotechnology company’s stock valued at $1,527,000 after purchasing an additional 3,976 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LGND shares. HC Wainwright restated a “buy” rating and issued a $144.00 target price on shares of Ligand Pharmaceuticals in a report on Wednesday, May 8th. Benchmark restated a “buy” rating and issued a $95.00 target price on shares of Ligand Pharmaceuticals in a report on Friday, April 12th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.33.

Get Our Latest Report on LGND

Insider Activity

In other news, insider Andrew Reardon sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $83.04, for a total transaction of $830,400.00. Following the completion of the transaction, the insider now owns 22,205 shares of the company’s stock, valued at approximately $1,843,903.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Andrew Reardon sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $83.04, for a total transaction of $830,400.00. Following the completion of the transaction, the insider now owns 22,205 shares of the company’s stock, valued at approximately $1,843,903.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Octavio Espinoza sold 5,873 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.01, for a total transaction of $505,136.73. Following the sale, the chief financial officer now directly owns 23,882 shares of the company’s stock, valued at approximately $2,054,090.82. The disclosure for this sale can be found here. Insiders sold a total of 27,436 shares of company stock valued at $2,303,916 in the last 90 days. 10.40% of the stock is currently owned by insiders.

Ligand Pharmaceuticals Price Performance

NASDAQ LGND opened at $86.40 on Monday. Ligand Pharmaceuticals Incorporated has a 12 month low of $49.24 and a 12 month high of $94.57. The company has a 50-day moving average of $76.98 and a 200-day moving average of $72.13. The company has a market cap of $1.56 billion, a P/E ratio of 16.71 and a beta of 1.01.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $3.01. Ligand Pharmaceuticals had a net margin of 79.30% and a return on equity of 8.52%. The company had revenue of $30.90 million during the quarter, compared to the consensus estimate of $27.92 million. During the same quarter in the prior year, the company posted $1.96 EPS. The company’s quarterly revenue was down 29.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.41 EPS for the current year.

Ligand Pharmaceuticals Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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