Hedge Funds Are Crazy About Ligand Pharmaceuticals Inc. (LGND)

Page 1 of 2

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) shareholders have witnessed an increase in hedge fund interest of late.

At the moment, there are dozens of methods investors can use to monitor the equity markets. Some of the most useful are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the top hedge fund managers can outclass the S&P 500 by a significant margin (see just how much).

Equally as key, bullish insider trading activity is another way to break down the marketplace. Just as you’d expect, there are a number of stimuli for a bullish insider to cut shares of his or her company, but only one, very simple reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the useful potential of this tactic if piggybackers understand where to look (learn more here).

With all of this in mind, it’s important to take a look at the key action encompassing Ligand Pharmaceuticals Inc. (NASDAQ:LGND).

What does the smart money think about Ligand Pharmaceuticals Inc. (NASDAQ:LGND)?

At Q1′s end, a total of 7 of the hedge funds we track were bullish in this stock, a change of 17% from the first quarter. With hedge funds’ capital changing hands, there exists a few notable hedge fund managers who were upping their stakes substantially.

When looking at the hedgies we track, Peter S. Park’s Park West Asset Management had the biggest position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND), worth close to $40.1 million, comprising 4.5% of its total 13F portfolio. On Park West Asset Management’s heels is Julian Baker and Felix Baker of Baker Bros. Advisors, with a $2 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other hedgies with similar optimism include Thomas Bailard’s Bailard Inc, David Moradi’s Anthion Management and John Overdeck and David Siegel’s Two Sigma Advisors.

As industrywide interest jumped, some big names were breaking ground themselves. Anthion Management, managed by David Moradi, initiated the most outsized position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND). Anthion Management had 0.8 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also initiated a $0.4 million position during the quarter.

What have insiders been doing with Ligand Pharmaceuticals Inc. (NASDAQ:LGND)?

Bullish insider trading is particularly usable when the company we’re looking at has experienced transactions within the past 180 days. Over the latest half-year time frame, Ligand Pharmaceuticals Inc. (NASDAQ:LGND) has experienced 4 unique insiders buying, and 2 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Ligand Pharmaceuticals Inc. (NASDAQ:LGND). These stocks are Akorn, Inc. (NASDAQ:AKRX), Avanir Pharmaceuticals, Inc. (NASDAQ:AVNR), Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA), Hi-Tech Pharmacal Co. (NASDAQ:HITK), and Sagent Pharmaceuticals Inc (NASDAQ:SGNT). This group of stocks belong to the drugs – generic industry and their market caps match LGND’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!