Eagle Asset Management Inc. grew its stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 336,559 shares of the biotechnology company’s stock after acquiring an additional 9,914 shares during the period. Eagle Asset Management Inc. owned about 1.77% of Ligand Pharmaceuticals worth $33,501,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. FTB Advisors Inc. acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $26,000. Tower Research Capital LLC TRC boosted its holdings in shares of Ligand Pharmaceuticals by 188.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 228 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 149 shares during the period. Quest Capital Management Inc. ADV acquired a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at about $27,000. Valeo Financial Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $46,000. Finally, Quantamental Technologies LLC acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $51,000.
NASDAQ:LGND traded up $7.17 during mid-day trading on Friday, hitting $108.80. The stock had a trading volume of 502,000 shares, compared to its average volume of 480,836. The company has a 50 day simple moving average of $105.58 and a 200-day simple moving average of $107.20. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 2.45 and a beta of 1.26. The company has a current ratio of 13.23, a quick ratio of 13.15 and a debt-to-equity ratio of 0.61. Ligand Pharmaceuticals Inc. has a 52 week low of $84.45 and a 52 week high of $169.21.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Tuesday, November 5th. The biotechnology company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.12). The firm had revenue of $24.81 million during 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 business’s revenue was down 45.7% on a year-over-year basis. During the same period last year, the business earned $1.32 earnings per share. As a group, equities research analysts anticipate that Ligand Pharmaceuticals Inc. will post 2.28 earnings per share for the current year.
Several research analysts have recently commented on LGND shares. ValuEngine raised shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. BidaskClub raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Barclays raised shares of Ligand Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $110.00 to $132.00 in a report on Thursday, September 19th. Finally, Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Ligand Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $152.20.
In related news, Director Jason Aryeh acquired 750 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average cost of $87.01 per share, with a total value of $65,257.50. Following the completion of the transaction, the director now owns 67,203 shares of the company’s stock, valued at approximately $5,847,333.03. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.40% of the company’s stock.
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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