Dana Investment Advisors Inc. grew its holdings in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,427 shares of the biotechnology company’s stock after buying an additional 1,180 shares during the quarter. Dana Investment Advisors Inc. owned 0.06% of Ligand Pharmaceuticals worth $1,686,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Ligand Pharmaceuticals by 3.3% during the third quarter. Vanguard Group Inc. now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after buying an additional 66,789 shares during the period. Fisher Asset Management LLC grew its stake in Ligand Pharmaceuticals by 55.1% during the fourth quarter. Fisher Asset Management LLC now owns 66,105 shares of the biotechnology company’s stock worth $8,970,000 after buying an additional 23,486 shares during the period. Woodstock Corp grew its stake in Ligand Pharmaceuticals by 4.6% during the fourth quarter. Woodstock Corp now owns 69,759 shares of the biotechnology company’s stock worth $9,466,000 after buying an additional 3,051 shares during the period. Tygh Capital Management Inc. grew its stake in Ligand Pharmaceuticals by 108.0% during the fourth quarter. Tygh Capital Management Inc. now owns 80,183 shares of the biotechnology company’s stock worth $10,881,000 after buying an additional 41,626 shares during the period. Finally, Stevens Capital Management LP purchased a new stake in Ligand Pharmaceuticals during the fourth quarter worth approximately $1,336,000.
Several research firms have issued reports on LGND. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research note on Wednesday, January 23rd. HC Wainwright set a $281.00 price objective on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, November 19th. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. Argus reiterated a “buy” rating and set a $150.00 price objective (down from $200.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, February 13th. Finally, ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $210.57.
Shares of LGND stock opened at $119.03 on Friday. The firm has a market capitalization of $2.42 billion, a PE ratio of 18.95, a PEG ratio of 0.18 and a beta of 1.37. The company has a quick ratio of 10.50, a current ratio of 10.58 and a debt-to-equity ratio of 1.09. Ligand Pharmaceuticals Inc. has a twelve month low of $98.56 and a twelve month high of $278.62.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, February 7th. The biotechnology company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.48. The business had revenue of $59.59 million during the quarter, compared to the consensus estimate of $52.58 million. Ligand Pharmaceuticals had a net margin of 57.00% and a return on equity of 26.00%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 earnings per share. On average, research analysts predict that Ligand Pharmaceuticals Inc. will post 32.16 EPS for the current year.
In other news, CEO John L. Higgins bought 2,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average cost of $114.29 per share, for a total transaction of $285,725.00. Following the completion of the purchase, the chief executive officer now owns 141,399 shares of the company’s stock, valued at $16,160,491.71. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 7.80% of the stock is currently owned by corporate 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; Aziyo portfolio of 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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