Tocqueville Asset Management L.P. reduced its position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 70.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,216 shares of the biotechnology company’s stock after selling 19,550 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Ligand Pharmaceuticals were worth $1,125,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Ligand Pharmaceuticals by 336.4% during the fourth quarter. Assetmark Inc. now owns 1,056 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 814 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ligand Pharmaceuticals by 48.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock worth $151,000 after acquiring an additional 359 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Ligand Pharmaceuticals during the third quarter worth approximately $230,000. Sawgrass Asset Management LLC purchased a new position in shares of Ligand Pharmaceuticals during the third quarter worth approximately $246,000. Finally, Capital One National Association purchased a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth approximately $252,000.
In other news, Director Jason Aryeh sold 7,500 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $175.73, for a total transaction of $1,317,975.00. Following the sale, the director now owns 58,625 shares in the company, valued at approximately $10,302,171.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen L. Sabba sold 925 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $137.25, for a total transaction of $126,956.25. Following the sale, the director now owns 26,985 shares in the company, valued at approximately $3,703,691.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,890 shares of company stock worth $15,767,270. Company insiders own 8.30% of the company’s stock.
Ligand Pharmaceuticals Inc. (NASDAQ LGND) opened at $176.04 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3,732.80, a price-to-earnings ratio of 345.18, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. Ligand Pharmaceuticals Inc. has a 1 year low of $102.56 and a 1 year high of $177.78.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Wednesday, February 21st. The biotechnology company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.12. The business had revenue of $50.50 million for the quarter, compared to the consensus estimate of $49.39 million. Ligand Pharmaceuticals had a net margin of 8.90% and a return on equity of 14.44%. The company’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. equities research analysts predict that Ligand Pharmaceuticals Inc. will post 3.59 earnings per share for the current year.
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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 is involved in the development and licensing of biopharmaceutical assets. 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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