Virtus ETF Advisers LLC boosted its holdings in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 36.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,536 shares of the biotechnology company’s stock after purchasing an additional 2,033 shares during the period. Virtus ETF Advisers LLC’s holdings in Ligand Pharmaceuticals were worth $860,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. First Mercantile Trust Co. raised its stake in shares of Ligand Pharmaceuticals by 12.6% in the 1st quarter. First Mercantile Trust Co. now owns 805 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 90 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Ligand Pharmaceuticals by 1.1% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,503 shares of the biotechnology company’s stock valued at $1,069,000 after purchasing an additional 92 shares during the period. FinTrust Capital Advisors LLC raised its stake in shares of Ligand Pharmaceuticals by 64.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 337 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 132 shares during the period. Meadow Creek Investment Management LLC raised its stake in shares of Ligand Pharmaceuticals by 10.6% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 2,000 shares of the biotechnology company’s stock valued at $228,000 after purchasing an additional 192 shares during the period. Finally, Manchester Capital Management LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 1st quarter valued at about $26,000.
Shares of NASDAQ:LGND traded down $0.11 during midday trading on Friday, reaching $97.44. The company had a trading volume of 828,300 shares, compared to its average volume of 329,970. The company has a quick ratio of 13.15, a current ratio of 13.23 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $94.03 and its 200 day moving average price is $112.07. The stock has a market cap of $1.75 billion, a PE ratio of 15.52, a P/E/G ratio of 2.01 and a beta of 1.30. Ligand Pharmaceuticals Inc. has a 1-year low of $84.45 and a 1-year high of $278.62.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.30. The business had revenue of $24.99 million for the quarter, compared to the consensus estimate of $21.01 million. Ligand Pharmaceuticals had a return on equity of 11.24% and a net margin of 389.58%. Ligand Pharmaceuticals’s quarterly revenue was down 72.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.59 earnings per share. On average, research analysts expect that Ligand Pharmaceuticals Inc. will post 2.28 earnings per share for the current fiscal year.
LGND has been the topic of several recent research reports. ValuEngine downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. BidaskClub raised Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday. Argus set a $140.00 price target on Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, June 10th. Barclays dropped their price target on Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Zacks Investment Research downgraded Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 price target on the stock. in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $147.80.
In related news, Director Jason Aryeh bought 750 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $87.01 per share, with a total value of $65,257.50. Following the completion of the transaction, the director now owns 67,203 shares in the company, valued at $5,847,333.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sunil Patel bought 1,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $95.98 per share, for a total transaction of $95,980.00. Following the transaction, the director now owns 26,359 shares of the company’s stock, valued at approximately $2,529,936.82. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 8,600 shares of company stock worth $828,747. 8.40% of the stock is owned by company insiders.
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; 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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