Timpani Capital Management LLC increased its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 108.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,434 shares of the biotechnology company’s stock after acquiring an additional 16,346 shares during the period. Ligand Pharmaceuticals comprises approximately 1.4% of Timpani Capital Management LLC’s portfolio, making the stock its 26th largest position. Timpani Capital Management LLC owned about 0.15% of Ligand Pharmaceuticals worth $3,816,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. grew its position in Ligand Pharmaceuticals by 166,566.2% in the first quarter. BlackRock Inc. now owns 2,614,993 shares of the biotechnology company’s stock worth $276,770,000 after acquiring an additional 2,613,424 shares in the last quarter. William Blair Investment Management LLC grew its position in Ligand Pharmaceuticals by 2.6% in the second quarter. William Blair Investment Management LLC now owns 1,773,434 shares of the biotechnology company’s stock worth $215,295,000 after acquiring an additional 45,256 shares in the last quarter. Vanguard Group Inc. grew its position in Ligand Pharmaceuticals by 4.6% in the first quarter. Vanguard Group Inc. now owns 1,687,618 shares of the biotechnology company’s stock worth $178,618,000 after acquiring an additional 74,193 shares in the last quarter. Eagle Asset Management Inc. grew its position in Ligand Pharmaceuticals by 7.7% in the second quarter. Eagle Asset Management Inc. now owns 490,841 shares of the biotechnology company’s stock worth $59,588,000 after acquiring an additional 35,289 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its position in Ligand Pharmaceuticals by 8.0% in the first quarter. Stephens Investment Management Group LLC now owns 448,479 shares of the biotechnology company’s stock worth $47,467,000 after acquiring an additional 33,144 shares in the last quarter.
Ligand Pharmaceuticals Incorporated (LGND) traded down 0.44% during mid-day trading on Friday, hitting $134.70. 612,203 shares of the stock were exchanged. Ligand Pharmaceuticals Incorporated has a 52 week low of $87.50 and a 52 week high of $138.49. The company’s 50-day moving average price is $127.95 and its 200 day moving average price is $116.09. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 328.54 and a beta of 0.99.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.42. The company had revenue of $28.00 million during the quarter, compared to the consensus estimate of $24.40 million. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The firm’s quarterly revenue was up 43.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Equities research analysts expect that Ligand Pharmaceuticals Incorporated will post $2.95 EPS for the current year.
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Several research analysts recently issued reports on the stock. ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. TheStreet upgraded shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Monday, August 7th. Roth Capital upped their price target on shares of Ligand Pharmaceuticals from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Finally, Stephens restated an “overweight” rating and set a $137.00 price target (up from $125.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Ligand Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $132.29.
In other news, Director Jason Aryeh sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $127.99, for a total transaction of $255,980.00. Following the completion of the sale, the director now owns 59,625 shares in the company, valued at approximately $7,631,403.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John L. Higgins sold 4,666 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $120.00, for a total transaction of $559,920.00. Following the sale, the chief executive officer now owns 143,837 shares of the company’s stock, valued at approximately $17,260,440. The disclosure for this sale can be found here. Insiders have sold a total of 41,874 shares of company stock valued at $5,293,716 in the last 90 days. Insiders own 14.70% of the company’s stock.
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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