Victory Capital Management Inc. Has $2.91 Million Stock Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Victory Capital Management Inc. lifted its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 94.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,678 shares of the biotechnology company’s stock after acquiring an additional 13,456 shares during the period. Victory Capital Management Inc. owned approximately 0.14% of Ligand Pharmaceuticals worth $2,910,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Ligand Pharmaceuticals by 0.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 277,791 shares of the biotechnology company’s stock valued at $29,207,000 after acquiring an additional 1,060 shares during the period. New York State Common Retirement Fund raised its position in shares of Ligand Pharmaceuticals by 7.7% in the 1st quarter. New York State Common Retirement Fund now owns 99,537 shares of the biotechnology company’s stock valued at $10,465,000 after acquiring an additional 7,119 shares during the period. Arizona State Retirement System raised its position in shares of Ligand Pharmaceuticals by 2.1% in the 1st quarter. Arizona State Retirement System now owns 5,407 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 110 shares during the period. Calamos Advisors LLC raised its position in shares of Ligand Pharmaceuticals by 38.3% in the 1st quarter. Calamos Advisors LLC now owns 19,934 shares of the biotechnology company’s stock valued at $2,096,000 after acquiring an additional 5,519 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Ligand Pharmaceuticals by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 102,874 shares of the biotechnology company’s stock worth $10,816,000 after buying an additional 3,284 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CEO Todd C. Davis acquired 9,510 shares of the stock in a transaction dated Friday, May 9th. The shares were bought at an average cost of $105.20 per share, for a total transaction of $1,000,452.00. Following the completion of the acquisition, the chief executive officer directly owned 161,234 shares of the company’s stock, valued at approximately $16,961,816.80. This trade represents a 6.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Reardon sold 500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $114.08, for a total transaction of $57,040.00. Following the completion of the sale, the insider owned 31,903 shares in the company, valued at $3,639,494.24. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,934 shares of company stock valued at $335,060 over the last ninety days. 7.00% of the stock is currently owned by company insiders.

Ligand Pharmaceuticals Stock Down 0.7%

NASDAQ LGND opened at $134.92 on Tuesday. Ligand Pharmaceuticals Incorporated has a 12-month low of $90.29 and a 12-month high of $143.13. The company has a market capitalization of $2.60 billion, a PE ratio of -18.95 and a beta of 0.84. The firm’s 50 day moving average is $115.76 and its 200-day moving average is $112.14.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, May 8th. The biotechnology company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.10. Ligand Pharmaceuticals had a negative net margin of 73.07% and a negative return on equity of 7.83%. The company had revenue of $45.33 million for the quarter, compared to the consensus estimate of $37.84 million. During the same period last year, the company earned $3.84 earnings per share. As a group, sell-side analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on LGND shares. Wall Street Zen downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, May 12th. Oppenheimer raised their target price on shares of Ligand Pharmaceuticals from $142.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Finally, Stifel Nicolaus started coverage on shares of Ligand Pharmaceuticals in a report on Thursday, April 10th. They set a “buy” rating and a $143.00 target price on the stock. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.17.

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.