Elkfork Partners LLC purchased a new position in Ligand Pharmaceuticals (NASDAQ:LGND) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,080 shares of the biotechnology company’s stock, valued at approximately $422,000.
Several other large investors also recently modified their holdings of LGND. Nationwide Fund Advisors raised its stake in Ligand Pharmaceuticals by 308.7% in the 3rd quarter. Nationwide Fund Advisors now owns 88,095 shares of the biotechnology company’s stock valued at $11,994,000 after acquiring an additional 66,542 shares during the period. First Trust Advisors LP raised its stake in Ligand Pharmaceuticals by 175.6% in the 3rd quarter. First Trust Advisors LP now owns 11,904 shares of the biotechnology company’s stock valued at $1,621,000 after acquiring an additional 7,584 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at about $425,000. Prudential Financial Inc. raised its stake in Ligand Pharmaceuticals by 48.7% in the 3rd quarter. Prudential Financial Inc. now owns 72,150 shares of the biotechnology company’s stock valued at $9,823,000 after acquiring an additional 23,643 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Ligand Pharmaceuticals by 8.3% in the 3rd quarter. Principal Financial Group Inc. now owns 161,597 shares of the biotechnology company’s stock valued at $22,001,000 after acquiring an additional 12,401 shares during the period.
Shares of Ligand Pharmaceuticals stock opened at $166.94 on Thursday. Ligand Pharmaceuticals has a 52-week low of $102.56 and a 52-week high of $184.79. The firm has a market capitalization of $3,570.58, a PE ratio of 327.34, a PEG ratio of 1.71 and a beta of 1.10. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.12. Ligand Pharmaceuticals had a return on equity of 14.44% and a net margin of 8.90%. The firm had revenue of $50.50 million for the quarter, compared to analysts’ expectations of $49.39 million. During the same period in the prior year, the business posted $1.25 earnings per share. The company’s revenue was up 32.2% on a year-over-year basis. sell-side analysts predict that Ligand Pharmaceuticals will post 3.59 EPS for the current year.
A number of equities research analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $170.00 price objective on shares of Ligand Pharmaceuticals in a research note on Friday, February 2nd. Zacks Investment Research cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Craig Hallum restated a “buy” rating and issued a $200.00 price objective (up from $190.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, March 7th. Roth Capital boosted their price objective on Ligand Pharmaceuticals from $158.00 to $171.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, BidaskClub upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ligand Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $161.00.
In other news, Director Jason Aryeh sold 3,417 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $155.00, for a total transaction of $529,635.00. Following the sale, the director now directly owns 58,625 shares in the company, valued at $9,086,875. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stephen L. Sabba sold 622 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $180.73, for a total value of $112,414.06. Following the sale, the director now owns 26,363 shares in the company, valued at $4,764,584.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,587 shares of company stock worth $15,752,728. Company insiders own 8.30% of the company’s stock.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.
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