First Trust Advisors LP lifted its position in shares of Ligand Pharmaceuticals (NASDAQ:LGND) by 5.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,513 shares of the biotechnology company’s stock after buying an additional 609 shares during the quarter. First Trust Advisors LP owned about 0.06% of Ligand Pharmaceuticals worth $1,713,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ligand Pharmaceuticals by 48.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock worth $151,000 after purchasing an additional 359 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Ligand Pharmaceuticals in the third quarter worth $230,000. Sawgrass Asset Management LLC bought a new position in shares of Ligand Pharmaceuticals in the third quarter worth $246,000. Capital One National Association bought a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth $252,000. Finally, M&T Bank Corp increased its position in shares of Ligand Pharmaceuticals by 22.9% in the fourth quarter. M&T Bank Corp now owns 1,947 shares of the biotechnology company’s stock worth $267,000 after purchasing an additional 363 shares during the period.
A number of research analysts have issued reports on LGND shares. Craig Hallum lifted their target price on Ligand Pharmaceuticals from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 20th. HC Wainwright lifted their target price on Ligand Pharmaceuticals from $170.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, March 7th. TheStreet cut Ligand Pharmaceuticals from a “b” rating to a “c+” rating in a research report on Thursday, March 1st. Finally, Roth Capital lifted their target price on Ligand Pharmaceuticals from $158.00 to $171.00 and gave the company a “buy” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $161.00.
Ligand Pharmaceuticals (LGND) opened at $161.87 on Friday. Ligand Pharmaceuticals has a 12-month low of $102.56 and a 12-month high of $184.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.97. The stock has a market capitalization of $3,539.84, a PE ratio of 66.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.10.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Wednesday, February 21st. The biotechnology company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.12. The firm had revenue of $50.50 million for the quarter, compared to analysts’ expectations of $49.39 million. Ligand Pharmaceuticals had a return on equity of 14.44% and a net margin of 8.90%. The business’s revenue for the quarter was up 32.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 earnings per share. equities research analysts forecast that Ligand Pharmaceuticals will post 3.59 EPS for the current year.
In other news, Director Stephen L. Sabba sold 622 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $180.73, for a total transaction of $112,414.06. Following the sale, the director now directly owns 26,363 shares in the company, valued at $4,764,584.99. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Todd C. Davis sold 17,170 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $152.37, for a total value of $2,616,192.90. Following the sale, the director now owns 65,898 shares in the company, valued at $10,040,878.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,587 shares of company stock worth $15,752,728. Company insiders own 8.30% of the company’s stock.
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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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