Wealth Enhancement Advisory Services LLC Takes $286,000 Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Wealth Enhancement Advisory Services LLC acquired a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,665 shares of the biotechnology company’s stock, valued at approximately $286,000.

Several other institutional investors have also bought and sold shares of LGND. Yousif Capital Management LLC lifted its holdings in Ligand Pharmaceuticals by 1.4% in the 4th quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock valued at $771,000 after acquiring an additional 96 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Ligand Pharmaceuticals by 3.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the biotechnology company’s stock worth $975,000 after purchasing an additional 300 shares in the last quarter. Congress Asset Management Co. lifted its position in shares of Ligand Pharmaceuticals by 2.9% in the fourth quarter. Congress Asset Management Co. now owns 621,482 shares of the biotechnology company’s stock worth $66,592,000 after purchasing an additional 17,444 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth approximately $2,012,000. Finally, Principal Financial Group Inc. lifted its position in shares of Ligand Pharmaceuticals by 6.8% in the fourth quarter. Principal Financial Group Inc. now owns 99,590 shares of the biotechnology company’s stock worth $10,671,000 after purchasing an additional 6,382 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LGND. Wall Street Zen lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. Oppenheimer raised their price objective on shares of Ligand Pharmaceuticals from $142.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Finally, Stifel Nicolaus began coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, April 10th. They set a “buy” rating and a $143.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Ligand Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $146.14.

Ligand Pharmaceuticals Stock Down 1.7%

Ligand Pharmaceuticals stock opened at $112.50 on Monday. The stock has a 50-day simple moving average of $105.48 and a 200 day simple moving average of $110.51. Ligand Pharmaceuticals Incorporated has a 12-month low of $77.53 and a 12-month high of $129.90. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 44.82 and a beta of 0.83.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.10. The firm had revenue of $45.33 million during the quarter, compared to analyst estimates of $37.84 million. Ligand Pharmaceuticals had a return on equity of 4.95% and a net margin of 29.68%. During the same period last year, the company earned $3.84 earnings per share. As a group, sell-side analysts anticipate that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current year.

Insider Activity at Ligand Pharmaceuticals

In related news, insider Andrew Reardon sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $104.00, for a total value of $104,000.00. Following the completion of the transaction, the insider now directly owns 32,903 shares in the company, valued at approximately $3,421,912. The trade was a 2.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd C. Davis acquired 9,510 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $105.20 per share, with a total value of $1,000,452.00. Following the completion of the transaction, the chief executive officer now directly owns 161,234 shares in the company, valued at $16,961,816.80. This trade represents a 6.27% increase in their position. The disclosure for this purchase can be found here. 7.00% of the stock is owned by 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.