Summit Creek Advisors LLC lessened its stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 0.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 47,572 shares of the biotechnology company’s stock after selling 80 shares during the period. Summit Creek Advisors LLC owned approximately 0.23% of Ligand Pharmaceuticals worth $5,980,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. First Hawaiian Bank raised its holdings in Ligand Pharmaceuticals by 22.7% during the 4th quarter. First Hawaiian Bank now owns 584 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 108 shares during the period. Trillium Asset Management LLC increased its stake in Ligand Pharmaceuticals by 4.1% in the fourth quarter. Trillium Asset Management LLC now owns 4,386 shares of the biotechnology company’s stock worth $595,000 after purchasing an additional 171 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Ligand Pharmaceuticals by 33.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 713 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 180 shares during the period. Tocqueville Asset Management L.P. increased its stake in Ligand Pharmaceuticals by 4.4% in the fourth quarter. Tocqueville Asset Management L.P. now owns 4,571 shares of the biotechnology company’s stock worth $620,000 after purchasing an additional 193 shares during the period. Finally, LS Investment Advisors LLC increased its stake in Ligand Pharmaceuticals by 17.4% in the fourth quarter. LS Investment Advisors LLC now owns 1,606 shares of the biotechnology company’s stock worth $218,000 after purchasing an additional 238 shares during the period.
In related news, CEO John L. Higgins acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average price of $114.29 per share, with a total value of $285,725.00. Following the completion of the transaction, the chief executive officer now directly owns 141,399 shares in the company, valued at $16,160,491.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.80% of the stock is owned by company insiders.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a research note on Wednesday, January 23rd. HC Wainwright reiterated a “buy” rating and issued a $254.00 target price (down previously from $281.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, March 6th. BidaskClub upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. Argus reiterated a “buy” rating and issued a $150.00 target price (down previously from $200.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, February 13th. Finally, ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $212.29.
LGND stock traded down $0.25 during trading on Monday, reaching $127.59. 3,790 shares of the company traded hands, compared to its average volume of 444,946. Ligand Pharmaceuticals Inc. has a 12 month low of $98.56 and a 12 month high of $278.62. The company has a market cap of $2.61 billion, a P/E ratio of 20.58, a PEG ratio of 1.97 and a beta of 1.37. The company has a debt-to-equity ratio of 1.09, a current ratio of 10.58 and a quick ratio of 10.50.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Thursday, February 7th. The biotechnology company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.48. Ligand Pharmaceuticals had a return on equity of 26.00% and a net margin of 57.00%. The company had revenue of $59.59 million for the quarter, compared to the consensus estimate of $52.58 million. During the same quarter last year, the company earned $1.31 earnings per share. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, analysts anticipate that Ligand Pharmaceuticals Inc. will post 3.24 EPS for the current year.
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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; Aziyo portfolio of 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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