Jefferies Group LLC lessened its stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 59.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,306 shares of the biotechnology company’s stock after selling 26,936 shares during the quarter. Jefferies Group LLC owned about 0.09% of Ligand Pharmaceuticals worth $5,025,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new position in Ligand Pharmaceuticals in the 3rd quarter valued at about $131,000. Advisor Partners LLC bought a new position in Ligand Pharmaceuticals in the 3rd quarter valued at about $207,000. Dynasty Wealth Management LLC bought a new position in Ligand Pharmaceuticals in the 3rd quarter valued at about $209,000. Pennsylvania Trust Co bought a new position in Ligand Pharmaceuticals in the 3rd quarter valued at about $210,000. Finally, CIBC Asset Management Inc bought a new position in Ligand Pharmaceuticals in the 3rd quarter valued at about $210,000.
NASDAQ:LGND opened at $145.61 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.20 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.30 and a beta of 1.49. Ligand Pharmaceuticals Inc. has a 52 week low of $131.42 and a 52 week high of $278.62.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, November 8th. The biotechnology company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.29. The firm had revenue of $45.66 million during the quarter, compared to analyst estimates of $41.99 million. Ligand Pharmaceuticals had a net margin of 73.78% and a return on equity of 26.17%. The company’s revenue for the quarter was up 36.8% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Equities analysts forecast that Ligand Pharmaceuticals Inc. will post 5.91 earnings per share for the current year.
Several brokerages recently weighed in on LGND. HC Wainwright set a $281.00 price target on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, November 19th. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. Roth Capital raised shares of Ligand Pharmaceuticals from a “neutral” rating to a “buy” rating and dropped their price target for the company from $250.00 to $195.00 in a research report on Monday, October 29th. BidaskClub cut shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. Finally, ValuEngine cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Ligand Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $244.43.
In other Ligand Pharmaceuticals news, COO Matthew W. Foehr sold 12,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $273.88, for a total value of $3,286,560.00. Following the completion of the sale, the chief operating officer now owns 105,388 shares in the company, valued at approximately $28,863,665.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Charles S. Berkman sold 2,813 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $250.69, for a total transaction of $705,190.97. Following the completion of the sale, the senior vice president now owns 30,576 shares of the company’s stock, valued at approximately $7,665,097.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,813 shares of company stock valued at $5,314,326. Company insiders own 7.80% of the company’s stock.
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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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