Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Purchased by Calamos Advisors LLC

Calamos Advisors LLC raised its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 20.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,847 shares of the biotechnology company’s stock after buying an additional 1,812 shares during the quarter. Calamos Advisors LLC owned about 0.06% of Ligand Pharmaceuticals worth $914,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in Ligand Pharmaceuticals during the 4th quarter valued at $53,000. Scarborough Advisors LLC purchased a new position in shares of Ligand Pharmaceuticals during the 4th quarter worth $107,000. PNC Financial Services Group Inc. lifted its stake in shares of Ligand Pharmaceuticals by 32.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,840 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 450 shares during the period. M&R Capital Management Inc. purchased a new position in shares of Ligand Pharmaceuticals during the 1st quarter worth $146,000. Finally, Portside Wealth Group LLC purchased a new position in shares of Ligand Pharmaceuticals during the 2nd quarter worth $229,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Trading Up 0.2 %

Shares of LGND opened at $103.82 on Monday. The firm has a market capitalization of $1.87 billion, a P/E ratio of 20.08 and a beta of 1.01. The stock’s fifty day simple moving average is $95.23 and its 200 day simple moving average is $83.65. Ligand Pharmaceuticals Incorporated has a twelve month low of $49.24 and a twelve month high of $112.13.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.34. The business had revenue of $41.50 million for the quarter, compared to analyst estimates of $33.04 million. Ligand Pharmaceuticals had a return on equity of 8.52% and a net margin of 79.30%. The business’s quarterly revenue was up 57.2% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. Sell-side analysts predict that Ligand Pharmaceuticals Incorporated will post 3.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on LGND shares. Benchmark increased their price target on Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. HC Wainwright reissued a “buy” rating and set a $144.00 price target on shares of Ligand Pharmaceuticals in a research note on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price target on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 7th. Finally, Craig Hallum increased 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Ligand Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $131.00.

Insider Activity at Ligand Pharmaceuticals

In related news, COO Matthew E. Korenberg sold 18,245 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $98.50, for a total value of $1,797,132.50. Following the completion of the sale, the chief operating officer now directly owns 68,368 shares in the company, valued at approximately $6,734,248. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Todd C. Davis purchased 2,500 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $97.39 per share, for a total transaction of $243,475.00. Following the acquisition, the chief executive officer now owns 123,010 shares in the company, valued at $11,979,943.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Matthew E. Korenberg sold 18,245 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $98.50, for a total value of $1,797,132.50. Following the sale, the chief operating officer now owns 68,368 shares of the company’s stock, valued at $6,734,248. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Ligand Pharmaceuticals Company Profile

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.