SG Americas Securities LLC lifted its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 95.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,404 shares of the biotechnology company’s stock after buying an additional 2,146 shares during the quarter. SG Americas Securities LLC’s holdings in Ligand Pharmaceuticals were worth $600,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of LGND. Strs Ohio raised its holdings in Ligand Pharmaceuticals by 225.0% during the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock worth $157,000 after purchasing an additional 900 shares during the last quarter. First Mercantile Trust Co. raised its holdings in Ligand Pharmaceuticals by 1.6% during the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 20 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Ligand Pharmaceuticals during the second quarter worth $203,000. Harbor Advisors LLC acquired a new position in Ligand Pharmaceuticals during the third quarter worth $204,000. Finally, Round Table Services LLC acquired a new position in Ligand Pharmaceuticals during the third quarter worth $205,000.
Several brokerages recently issued reports on LGND. Zacks Investment Research cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Roth Capital set a $158.00 price objective on Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, November 13th. Craig Hallum reaffirmed a “buy” rating and set a $170.00 price objective (up from $160.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, November 15th. Finally, HC Wainwright set a $159.00 price objective on Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $149.67.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) opened at $134.69 on Friday. Ligand Pharmaceuticals Incorporated has a 1-year low of $95.08 and a 1-year high of $149.31. The firm has a market capitalization of $2,734.22, a price-to-earnings ratio of 97.41, a PEG ratio of 1.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The company had revenue of $33.38 million during the quarter, compared to analysts’ expectations of $31.04 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The business’s revenue for the quarter was up 54.4% compared to the same quarter last year. equities research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 2.37 EPS for the current year.
In other news, CEO John L. Higgins sold 5,269 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $142.53, for a total value of $750,990.57. Following the completion of the transaction, the chief executive officer now directly owns 143,542 shares of the company’s stock, valued at $20,459,041.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Matthew E. Korenberg sold 6,559 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $142.63, for a total value of $935,510.17. Following the completion of the transaction, the vice president now directly owns 8,147 shares of the company’s stock, valued at $1,162,006.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,828 shares of company stock valued at $2,395,051. Insiders own 8.30% of the company’s stock.
About Ligand Pharmaceuticals
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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