First Hawaiian Bank Takes $131,000 Position in Ligand Pharmaceuticals Inc. (LGND)

First Hawaiian Bank purchased a new stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 476 shares of the biotechnology company’s stock, valued at approximately $131,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Ligand Pharmaceuticals by 8.3% in the second quarter. BlackRock Inc. now owns 3,264,974 shares of the biotechnology company’s stock valued at $676,405,000 after buying an additional 251,145 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Ligand Pharmaceuticals by 43.7% in the second quarter. Renaissance Technologies LLC now owns 523,494 shares of the biotechnology company’s stock valued at $108,452,000 after buying an additional 159,100 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Ligand Pharmaceuticals by 6.3% in the second quarter. Janus Henderson Group PLC now owns 927,101 shares of the biotechnology company’s stock valued at $192,068,000 after buying an additional 54,990 shares during the period. Federated Investors Inc. PA lifted its stake in shares of Ligand Pharmaceuticals by 293.4% in the second quarter. Federated Investors Inc. PA now owns 65,639 shares of the biotechnology company’s stock valued at $13,598,000 after buying an additional 48,953 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of Ligand Pharmaceuticals by 6.7% in the second quarter. Conestoga Capital Advisors LLC now owns 501,894 shares of the biotechnology company’s stock valued at $103,977,000 after buying an additional 31,364 shares during the period.

Several equities research analysts recently weighed in on LGND shares. HC Wainwright set a $245.00 target price on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, July 18th. Craig Hallum increased their target price on shares of Ligand Pharmaceuticals from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Stephens reiterated a “buy” rating and issued a $248.00 target price on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 8th. Roth Capital reiterated a “neutral” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Finally, Goldman Sachs Group started coverage on shares of Ligand Pharmaceuticals in a research note on Friday, August 17th. They issued a “neutral” rating and a $256.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Ligand Pharmaceuticals has an average rating of “Hold” and a consensus target price of $226.88.

NASDAQ:LGND opened at $165.72 on Friday. Ligand Pharmaceuticals Inc. has a 12-month low of $126.50 and a 12-month high of $278.62. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.34 and a quick ratio of 2.32. The stock has a market capitalization of $3.50 billion, a P/E ratio of 64.48, a price-to-earnings-growth ratio of 1.45 and a beta of 1.52.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Monday, August 6th. The biotechnology company reported $2.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.34 by $0.25. Ligand Pharmaceuticals had a net margin of 52.10% and a return on equity of 25.95%. The firm had revenue of $90.00 million during the quarter, compared to analyst estimates of $82.20 million. During the same quarter in the prior year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 221.4% compared to the same quarter last year. Equities analysts predict that Ligand Pharmaceuticals Inc. will post 5.71 EPS for the current fiscal year.

In other news, Director Todd C. Davis sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $239.78, for a total transaction of $2,158,020.00. Following the completion of the sale, the director now owns 44,806 shares of the company’s stock, valued at $10,743,582.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Todd C. Davis sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $253.99, for a total transaction of $634,975.00. Following the sale, the director now directly owns 42,556 shares of the company’s stock, valued at approximately $10,808,798.44. The disclosure for this sale can be found here. Insiders sold 119,922 shares of company stock valued at $30,297,452 in the last three months. Company insiders own 7.80% of the company’s stock.

Ligand Pharmaceuticals Company Profile

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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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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