Calamos Advisors LLC Has $2.10 Million Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Calamos Advisors LLC increased its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 38.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,934 shares of the biotechnology company’s stock after purchasing an additional 5,519 shares during the quarter. Calamos Advisors LLC owned approximately 0.10% of Ligand Pharmaceuticals worth $2,096,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Opal Wealth Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals during the first quarter worth $32,000. GF Fund Management CO. LTD. acquired a new position in Ligand Pharmaceuticals in the 4th quarter worth about $43,000. Smartleaf Asset Management LLC raised its position in Ligand Pharmaceuticals by 119.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 221 shares during the last quarter. Redwood Park Advisors LLC bought a new position in Ligand Pharmaceuticals in the fourth quarter valued at about $48,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Ligand Pharmaceuticals by 825.4% during the fourth quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 487 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Performance

Ligand Pharmaceuticals stock opened at $114.39 on Friday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -16.07 and a beta of 0.84. Ligand Pharmaceuticals Incorporated has a 52-week low of $85.18 and a 52-week high of $129.90. The firm has a 50 day moving average price of $108.41 and a two-hundred day moving average price of $110.03.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, May 8th. The biotechnology company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.10. The business had revenue of $45.33 million during the quarter, compared to the consensus estimate of $37.84 million. Ligand Pharmaceuticals had a negative net margin of 73.07% and a negative return on equity of 7.83%. During the same quarter last year, the firm earned $3.84 earnings per share. As a group, equities research analysts predict that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current fiscal year.

Analyst Ratings Changes

LGND has been the subject of several recent research reports. Stifel Nicolaus began coverage on Ligand Pharmaceuticals in a research note on Thursday, April 10th. They issued a “buy” rating and a $143.00 price objective for the company. Wall Street Zen cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. Finally, Oppenheimer lifted their price target 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. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $146.14.

Insider Buying and Selling

In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 500 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $114.08, for a total value of $57,040.00. Following the completion of the sale, the insider directly owned 31,903 shares in the company, valued at approximately $3,639,494.24. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd C. Davis purchased 9,510 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $105.20 per share, with a total value of $1,000,452.00. Following the completion of the purchase, the chief executive officer owned 161,234 shares of the company’s stock, valued at approximately $16,961,816.80. This represents a 6.27% increase in their position. The disclosure for this purchase can be found here. Insiders sold 2,000 shares of company stock valued at $218,310 over the last 90 days. Company insiders own 7.00% of the company’s stock.

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.