Prudential Financial Inc. decreased its position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 80.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,346 shares of the biotechnology company’s stock after selling 85,530 shares during the period. Prudential Financial Inc. owned about 0.10% of Ligand Pharmaceuticals worth $2,897,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Exane Derivatives purchased a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth about $36,000. Quantamental Technologies LLC purchased a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth about $68,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth about $68,000. First Hawaiian Bank increased its stake in shares of Ligand Pharmaceuticals by 22.7% during the fourth quarter. First Hawaiian Bank now owns 584 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 108 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Ligand Pharmaceuticals during the third quarter worth about $137,000.
A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Wednesday, January 23rd. HC Wainwright reissued a “buy” rating and set a $254.00 target price on shares of Ligand Pharmaceuticals in a research note on Wednesday. ValuEngine cut shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 6th. BidaskClub raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Roth Capital cut their target price on shares of Ligand Pharmaceuticals from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $210.57.
In other Ligand Pharmaceuticals news, CEO John L. Higgins purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average cost of $114.29 per share, for a total transaction of $285,725.00. Following the completion of the transaction, the chief executive officer now owns 141,399 shares of the company’s stock, valued at approximately $16,160,491.71. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.80% of the company’s stock.
LGND opened at $119.03 on Friday. The stock has a market cap of $2.42 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 0.18 and a beta of 1.37. Ligand Pharmaceuticals Inc. has a twelve month low of $98.56 and a twelve month high of $278.62. The company has a current ratio of 10.58, a quick ratio of 10.50 and a debt-to-equity ratio of 1.09.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Thursday, February 7th. The biotechnology company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.48. The firm had revenue of $59.59 million for the quarter, compared to analyst estimates of $52.58 million. Ligand Pharmaceuticals had a net margin of 57.00% and a return on equity of 26.00%. Ligand Pharmaceuticals’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 earnings per share. Equities analysts predict that Ligand Pharmaceuticals Inc. will post 32.16 EPS for the current year.
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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