Kornitzer Capital Management Inc. KS grew its stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,763 shares of the biotechnology company’s stock after purchasing an additional 7,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.62% of Ligand Pharmaceuticals worth $11,722,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in shares of Ligand Pharmaceuticals by 11.4% in the second quarter. Janus Henderson Group PLC now owns 1,542,670 shares of the biotechnology company’s stock valued at $176,096,000 after acquiring an additional 157,604 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Ligand Pharmaceuticals by 1.1% during the second quarter. William Blair Investment Management LLC now owns 897,370 shares of the biotechnology company’s stock worth $102,435,000 after acquiring an additional 9,728 shares in the last quarter. Cardinal Capital Management LLC CT raised its holdings in shares of Ligand Pharmaceuticals by 1.6% during the second quarter. Cardinal Capital Management LLC CT now owns 896,609 shares of the biotechnology company’s stock worth $102,348,000 after acquiring an additional 14,094 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Ligand Pharmaceuticals by 2.5% during the second quarter. Conestoga Capital Advisors LLC now owns 636,699 shares of the biotechnology company’s stock worth $72,679,000 after acquiring an additional 15,693 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Ligand Pharmaceuticals by 15.6% during the third quarter. Stephens Investment Management Group LLC now owns 511,280 shares of the biotechnology company’s stock worth $50,893,000 after acquiring an additional 69,093 shares in the last quarter.
In other Ligand Pharmaceuticals news, Director Jason Aryeh bought 750 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $87.01 per share, with a total value of $65,257.50. Following the acquisition, the director now owns 67,203 shares of the company’s stock, valued at $5,847,333.03. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 8.40% of the stock is currently owned by insiders.
A number of equities research analysts have recently issued reports on LGND shares. Barclays raised shares of Ligand Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $110.00 to $132.00 in a report on Thursday, September 19th. ValuEngine raised Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. Finally, BidaskClub raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $152.20.
Ligand Pharmaceuticals stock traded up $6.47 during mid-day trading on Friday, hitting $108.10. 35,854 shares of the company’s stock were exchanged, compared to its average volume of 244,977. The company has a current ratio of 13.23, a quick ratio of 13.15 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.12 billion, a P/E ratio of 17.21, a P/E/G ratio of 2.45 and a beta of 1.26. Ligand Pharmaceuticals Inc. has a 1-year low of $84.45 and a 1-year high of $183.67. The stock has a 50 day moving average of $105.51 and a two-hundred day moving average of $107.27.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Tuesday, November 5th. The biotechnology company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.12). Ligand Pharmaceuticals had a return on equity of 7.38% and a net margin of 388.69%. The business had revenue of $24.81 million for the quarter, compared to analyst estimates of $22.49 million. During the same period in the previous year, the company earned $1.32 earnings per share. The company’s quarterly revenue was down 45.7% compared to the same quarter last year. As a group, research analysts predict that Ligand Pharmaceuticals Inc. will post 2.28 EPS for the current fiscal year.
Ligand Pharmaceuticals 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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