Brown Advisory Inc. lessened its stake in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 11.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,601 shares of the biotechnology company’s stock after selling 1,060 shares during the quarter. Brown Advisory Inc.’s holdings in Ligand Pharmaceuticals were worth $2,361,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Ligand Pharmaceuticals by 2.5% in the third quarter. BlackRock Inc. now owns 3,346,406 shares of the biotechnology company’s stock worth $918,554,000 after buying an additional 81,432 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Ligand Pharmaceuticals by 6.3% in the second quarter. Janus Henderson Group PLC now owns 927,101 shares of the biotechnology company’s stock worth $192,068,000 after buying an additional 54,990 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Ligand Pharmaceuticals by 12.8% in the third quarter. Conestoga Capital Advisors LLC now owns 566,223 shares of the biotechnology company’s stock worth $155,423,000 after buying an additional 64,329 shares in the last quarter. FMR LLC increased its position in Ligand Pharmaceuticals by 21.8% in the third quarter. FMR LLC now owns 536,632 shares of the biotechnology company’s stock worth $147,300,000 after purchasing an additional 96,048 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Ligand Pharmaceuticals by 43.7% in the second quarter. Renaissance Technologies LLC now owns 523,494 shares of the biotechnology company’s stock worth $108,452,000 after purchasing an additional 159,100 shares during the last quarter.
Shares of LGND opened at $145.61 on Friday. Ligand Pharmaceuticals Inc. has a fifty-two week low of $131.42 and a fifty-two week high of $278.62. The firm has a market capitalization of $3.25 billion, a P/E ratio of 56.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.49. The company has a current ratio of 2.20, a quick ratio of 2.19 and a debt-to-equity ratio of 0.86.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Thursday, November 8th. The biotechnology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.29. Ligand Pharmaceuticals had a net margin of 73.78% and a return on equity of 26.17%. The company had revenue of $45.66 million for the quarter, compared to analysts’ expectations of $41.99 million. During the same quarter in the previous year, the business posted $0.69 earnings per share. Ligand Pharmaceuticals’s quarterly revenue was up 36.8% on a year-over-year basis. As a group, analysts anticipate that Ligand Pharmaceuticals Inc. will post 5.91 EPS for the current year.
In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 2,500 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $275.04, for a total transaction of $687,600.00. Following the transaction, the director now owns 26,142 shares in the company, valued at $7,190,095.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Charles S. Berkman sold 2,813 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $250.69, for a total transaction of $705,190.97. Following the transaction, the senior vice president now owns 30,576 shares in the company, valued at approximately $7,665,097.44. The disclosure for this sale can be found here. Insiders have sold 19,813 shares of company stock worth $5,314,326 in the last quarter. Company insiders own 7.80% of the company’s stock.
Several brokerages recently weighed in on LGND. HC Wainwright restated a “buy” rating and issued a $281.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, November 5th. BidaskClub cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. ValuEngine cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Goldman Sachs Group began coverage on shares of Ligand Pharmaceuticals in a research report on Friday, August 17th. They issued a “neutral” rating and a $256.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Ligand Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $244.43.
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; 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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