Alps Advisors Inc. reduced its position in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 14.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,928 shares of the biotechnology company’s stock after selling 6,304 shares during the period. Alps Advisors Inc. owned 0.20% of Ligand Pharmaceuticals worth $3,775,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in LGND. FTB Advisors Inc. acquired a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter worth about $26,000. Tower Research Capital LLC TRC boosted its stake in shares of Ligand Pharmaceuticals by 188.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 228 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Quest Capital Management Inc. ADV acquired a new stake in shares of Ligand Pharmaceuticals during the 3rd quarter worth about $27,000. Valeo Financial Advisors LLC acquired a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter worth about $46,000. Finally, Quantamental Technologies LLC acquired a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter worth about $51,000.
In related news, Director Jason Aryeh acquired 750 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $87.01 per share, for a total transaction of $65,257.50. Following the acquisition, the director now directly owns 67,203 shares in the company, valued at approximately $5,847,333.03. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.40% of the company’s stock.
Shares of LGND stock opened at $108.80 on Friday. The firm has a market cap of $2.12 billion, a P/E ratio of 17.32, a PEG 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 $169.21. The company has a debt-to-equity ratio of 0.61, a current ratio of 13.23 and a quick ratio of 13.15. The firm’s 50-day simple moving average is $105.58 and its 200-day simple moving average is $107.20.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.12). The company had revenue of $24.81 million for the quarter, compared to analysts’ expectations of $22.49 million. Ligand Pharmaceuticals had a return on equity of 7.38% and a net margin of 388.69%. The company’s revenue was down 45.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. Analysts expect that Ligand Pharmaceuticals Inc. will post 2.28 earnings per share for the current fiscal year.
Several research firms have issued reports on LGND. BidaskClub raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 price objective on the stock. in a report on Thursday, August 8th. Barclays upgraded shares of Ligand Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $110.00 to $132.00 in a report on Thursday, September 19th. Finally, ValuEngine upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Ligand Pharmaceuticals has an average rating of “Buy” and an average target price of $152.20.
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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