SG Americas Securities LLC reduced its holdings in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 54.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,734 shares of the biotechnology company’s stock after selling 5,582 shares during the period. SG Americas Securities LLC’s holdings in Ligand Pharmaceuticals were worth $1,299,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. First Hawaiian Bank bought a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at about $131,000. CIBC Asset Management Inc bought a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at about $210,000. Pennsylvania Trust Co bought a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at about $210,000. NewSquare Capital LLC bought a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at about $236,000. Finally, Sawtooth Solutions LLC bought a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at about $248,000.
A number of brokerages have recently commented on LGND. HC Wainwright lifted their price objective on shares of Ligand Pharmaceuticals from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, October 2nd. BidaskClub downgraded shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Argus set a $300.00 price objective on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. 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 objective for the company. Finally, ValuEngine downgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Ligand Pharmaceuticals presently has an average rating of “Hold” and an average target price of $244.43.
Shares of LGND stock opened at $145.61 on Friday. The stock has a market cap of $3.26 billion, a P/E ratio of 24.97, a P/E/G ratio of 1.30 and a beta of 1.49. The company has a quick ratio of 2.19, a current ratio of 2.20 and a debt-to-equity ratio of 0.86. Ligand Pharmaceuticals Inc. has a 52 week low of $131.42 and a 52 week high of $278.62.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, November 8th. The biotechnology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.03 by $0.29. The business had revenue of $45.66 million during the quarter, compared to the consensus estimate of $41.99 million. Ligand Pharmaceuticals had a net margin of 73.78% and a return on equity of 26.17%. Ligand Pharmaceuticals’s revenue was up 36.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. On average, research analysts forecast that Ligand Pharmaceuticals Inc. will post 5.91 EPS for the current year.
In related news, Director John W. Kozarich sold 2,500 shares of Ligand Pharmaceuticals stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $275.04, for a total transaction of $687,600.00. Following the completion of the sale, the director now owns 26,142 shares of the company’s stock, valued at approximately $7,190,095.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Charles S. Berkman sold 2,813 shares of Ligand Pharmaceuticals stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $250.69, for a total transaction of $705,190.97. Following the sale, the senior vice president now directly 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. Insiders have sold a total of 19,813 shares of company stock valued at $5,314,326 in the last ninety days. 7.80% of the stock is currently owned by insiders.
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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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