Capital Fund Management S.A. acquired a new position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,647 shares of the biotechnology company’s stock, valued at approximately $554,000.
A number of other hedge funds also recently bought and sold shares of LGND. BlackRock Inc. boosted its stake in Ligand Pharmaceuticals by 165.1% in the first quarter. BlackRock Inc. now owns 1,381 shares of the biotechnology company’s stock worth $147,000 after buying an additional 860 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Ligand Pharmaceuticals by 1,410.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,510 shares of the biotechnology company’s stock valued at $180,000 after buying an additional 1,410 shares in the last quarter. Strs Ohio boosted its stake in Ligand Pharmaceuticals by 166.7% in the second quarter. Strs Ohio now owns 1,600 shares of the biotechnology company’s stock valued at $190,000 after buying an additional 1,000 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Ligand Pharmaceuticals during the first quarter valued at approximately $207,000. Finally, Miles Capital Inc. acquired a new stake in Ligand Pharmaceuticals during the first quarter valued at approximately $252,000.
Ligand Pharmaceuticals Inc. (NASDAQ:LGND) traded down 2.70% during trading on Wednesday, reaching $95.67. The company’s stock had a trading volume of 419,864 shares. The firm has a market capitalization of $2.00 billion, a P/E ratio of 9.02 and a beta of 1.23. The firm has a 50-day moving average price of $107.51 and a 200-day moving average price of $117.01. Ligand Pharmaceuticals Inc. has a 52 week low of $82.06 and a 52 week high of $139.79.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The firm earned $19.50 million during the quarter, compared to the consensus estimate of $18.12 million. Ligand Pharmaceuticals had a return on equity of 11.64% and a net margin of 263.14%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.81 earnings per share. On average, equities analysts anticipate that Ligand Pharmaceuticals Inc. will post $3.44 EPS for the current fiscal year.
LGND has been the subject of several recent analyst reports. Craig Hallum raised their price target on Ligand Pharmaceuticals from $150.00 to $160.00 in a report on Wednesday, October 5th. Roth Capital reissued a “buy” rating and issued a $149.00 price target on shares of Ligand Pharmaceuticals in a report on Sunday, August 14th. HC Wainwright reissued a “buy” rating and issued a $160.00 price target (up from $146.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 5th. Deutsche Bank AG raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and reduced their price target for the company from $110.00 to $105.00 in a report on Wednesday, September 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $139.25.
In other news, Director John W. Kozarich sold 1,666 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $105.40, for a total value of $175,596.40. Following the completion of the sale, the director now owns 40,783 shares in the company, valued at $4,298,528.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John L. Higgins sold 3,000 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $117.34, for a total value of $352,020.00. Following the completion of the sale, the chief executive officer now owns 122,664 shares of the company’s stock, valued at approximately $14,393,393.76. The disclosure for this sale can be found here. 14.70% of the stock is owned by company insiders.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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