Elk Creek Partners LLC lowered its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 9.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,782 shares of the biotechnology company’s stock after selling 13,655 shares during the quarter. Elk Creek Partners LLC owned approximately 0.64% of Ligand Pharmaceuticals worth $16,241,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in LGND. Capstone Asset Management Co. boosted its position in Ligand Pharmaceuticals by 4.6% during the 1st quarter. Capstone Asset Management Co. now owns 2,713 shares of the biotechnology company’s stock valued at $287,000 after purchasing an additional 120 shares during the period. Great West Life Assurance Co. Can boosted its position in Ligand Pharmaceuticals by 6.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 26,716 shares of the biotechnology company’s stock valued at $2,827,000 after purchasing an additional 1,547 shares during the period. Tyers Asset Management LLC boosted its position in Ligand Pharmaceuticals by 23.3% during the 1st quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock valued at $110,000 after purchasing an additional 196 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Ligand Pharmaceuticals by 1.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,910 shares of the biotechnology company’s stock valued at $1,261,000 after purchasing an additional 120 shares during the period. Finally, American Century Companies Inc. boosted its position in Ligand Pharmaceuticals by 14.5% during the 1st quarter. American Century Companies Inc. now owns 16,894 shares of the biotechnology company’s stock valued at $1,788,000 after purchasing an additional 2,136 shares during the period.
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Several analysts have weighed in on LGND shares. Roth Capital set a $120.00 target price on Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, May 22nd. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. BidaskClub raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Zacks Investment Research raised Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $103.00 target price (up previously from $100.00) on shares of Ligand Pharmaceuticals in a research note on Monday, July 17th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $132.29.
In related news, CEO John L. Higgins sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the sale, the chief executive officer now owns 144,171 shares of the company’s stock, valued at approximately $18,742,230. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Charles S. Berkman sold 18,625 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $126.96, for a total value of $2,364,630.00. Following the sale, the vice president now directly owns 24,423 shares in the company, valued at approximately $3,100,744.08. The disclosure for this sale can be found here. In the last three months, insiders sold 41,874 shares of company stock worth $5,293,716. 14.70% of the stock is currently owned by company insiders.
Ligand Pharmaceuticals Incorporated (NASDAQ LGND) traded down 0.44% during mid-day trading on Friday, hitting $134.70. The stock had a trading volume of 612,203 shares. The firm has a market cap of $2.84 billion, a P/E ratio of 328.54 and a beta of 0.99. Ligand Pharmaceuticals Incorporated has a 1-year low of $87.50 and a 1-year high of $138.49. The stock has a 50 day moving average of $127.95 and a 200-day moving average of $116.09.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.42. The company had revenue of $28.00 million for the quarter, compared to the consensus estimate of $24.40 million. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. The firm’s quarterly revenue was up 43.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS. Analysts predict that Ligand Pharmaceuticals Incorporated will post $2.95 EPS for the current fiscal year.
Ligand Pharmaceuticals Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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