Sei Investments Co. Has $4.05 Million Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Sei Investments Co. grew its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 34.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,065 shares of the biotechnology company’s stock after buying an additional 12,224 shares during the quarter. Sei Investments Co. owned approximately 0.27% of Ligand Pharmaceuticals worth $4,050,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in LGND. Innealta Capital LLC bought a new stake in Ligand Pharmaceuticals during the 2nd quarter worth about $31,000. Rothschild Investment LLC bought a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at approximately $34,000. Headlands Technologies LLC increased its holdings in shares of Ligand Pharmaceuticals by 21.7% in the second quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 135 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Ligand Pharmaceuticals in the 2nd quarter worth approximately $67,000. Finally, Scarborough Advisors LLC acquired a new position in Ligand Pharmaceuticals during the 4th quarter worth $107,000. 91.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $130.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $144.00 target price on shares of Ligand Pharmaceuticals in a research report on Thursday, August 8th. Craig Hallum raised their target price on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Benchmark increased their price objective on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.00.

Insiders Place Their Bets

In other news, insider Andrew Reardon sold 2,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $99.60, for a total value of $199,200.00. Following the completion of the transaction, the insider now owns 22,534 shares of the company’s stock, valued at approximately $2,244,386.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Todd C. Davis purchased 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $97.39 per share, with a total value of $243,475.00. Following the completion of the purchase, the chief executive officer now owns 123,010 shares in the company, valued at approximately $11,979,943.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Reardon sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $99.60, for a total transaction of $199,200.00. Following the completion of the transaction, the insider now owns 22,534 shares of the company’s stock, valued at approximately $2,244,386.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,613 shares of company stock worth $5,255,692. Company insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals Trading Down 1.4 %

NASDAQ:LGND opened at $99.95 on Thursday. Ligand Pharmaceuticals Incorporated has a 1-year low of $49.24 and a 1-year high of $112.13. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 19.33 and a beta of 1.01. The business’s 50-day moving average price is $102.83 and its two-hundred day moving average price is $88.94.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.34. Ligand Pharmaceuticals had a net margin of 29.69% and a return on equity of 7.91%. The business had revenue of $41.50 million for the quarter, compared to the consensus estimate of $33.04 million. During the same period last year, the company posted $1.10 EPS. Ligand Pharmaceuticals’s revenue for the quarter was up 57.2% on a year-over-year basis. Sell-side analysts predict that Ligand Pharmaceuticals Incorporated will post 3.54 earnings per share for the current year.

Ligand Pharmaceuticals 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.