Element Capital Management LLC acquired a new stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,780 shares of the biotechnology company’s stock, valued at approximately $294,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of LGND. Carillon Tower Advisers Inc. purchased a new stake in Ligand Pharmaceuticals during the 4th quarter valued at approximately $30,730,000. OppenheimerFunds Inc. raised its stake in Ligand Pharmaceuticals by 74.0% during the 4th quarter. OppenheimerFunds Inc. now owns 252,961 shares of the biotechnology company’s stock valued at $34,638,000 after acquiring an additional 107,580 shares during the last quarter. William Blair Investment Management LLC raised its stake in Ligand Pharmaceuticals by 8.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,240,071 shares of the biotechnology company’s stock valued at $169,803,000 after acquiring an additional 92,695 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Ligand Pharmaceuticals by 25.6% during the 4th quarter. Glenmede Trust Co. NA now owns 392,932 shares of the biotechnology company’s stock valued at $53,801,000 after acquiring an additional 80,040 shares during the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in Ligand Pharmaceuticals during the 4th quarter valued at approximately $7,134,000.
Several equities analysts have issued reports on the company. BidaskClub cut Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 13th. HC Wainwright reiterated a “buy” rating and set a $182.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday, May 9th. Zacks Investment Research cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Argus assumed coverage on Ligand Pharmaceuticals in a research report on Thursday. They set a “buy” rating on the stock. Finally, TheStreet upgraded Ligand Pharmaceuticals from a “c+” rating to an “a-” rating in a research report on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Ligand Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $161.00.
NASDAQ LGND opened at $198.40 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.41. Ligand Pharmaceuticals Inc. has a 12-month low of $115.40 and a 12-month high of $202.64. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 77.20, a price-to-earnings-growth ratio of 1.84 and a beta of 0.96.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Tuesday, May 8th. The biotechnology company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.26. The company had revenue of $56.16 million for the quarter, compared to analysts’ expectations of $43.02 million. Ligand Pharmaceuticals had a return on equity of 19.10% and a net margin of 31.40%. The firm’s quarterly revenue was up 91.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. equities research analysts forecast that Ligand Pharmaceuticals Inc. will post 4.33 EPS for the current year.
In related news, insider Matthew W. Foehr sold 8,881 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $167.63, for a total value of $1,488,722.03. Following the sale, the insider now owns 110,082 shares in the company, valued at approximately $18,453,045.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John L. Higgins sold 12,405 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $179.97, for a total value of $2,232,527.85. Following the completion of the sale, the chief executive officer now owns 119,824 shares in the company, valued at approximately $21,564,725.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,786 shares of company stock worth $4,900,365. 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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