Alps Advisors Inc. boosted its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,883 shares of the biotechnology company’s stock after buying an additional 942 shares during the period. Alps Advisors Inc. owned 0.09% of Ligand Pharmaceuticals worth $2,292,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. State of Wisconsin Investment Board purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at about $1,821,000. Trillium Asset Management LLC increased its stake in shares of Ligand Pharmaceuticals by 4.7% in the second quarter. Trillium Asset Management LLC now owns 4,511 shares of the biotechnology company’s stock valued at $548,000 after buying an additional 202 shares during the period. Rhumbline Advisers increased its stake in shares of Ligand Pharmaceuticals by 1.5% in the second quarter. Rhumbline Advisers now owns 40,559 shares of the biotechnology company’s stock valued at $4,924,000 after buying an additional 580 shares during the period. First Mercantile Trust Co. increased its stake in Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after buying an additional 20 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Ligand Pharmaceuticals during the second quarter worth $203,000.
Shares of Ligand Pharmaceuticals Incorporated (LGND) opened at 126.62 on Friday. The firm has a market cap of $2.67 billion, a P/E ratio of 308.83 and a beta of 0.96. Ligand Pharmaceuticals Incorporated has a 52-week low of $87.50 and a 52-week high of $129.94. The stock’s 50 day moving average is $122.04 and its 200-day moving average is $112.50.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.42. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. The company had revenue of $28 million during the quarter, compared to analyst estimates of $24.40 million. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 43.6% compared to the same quarter last year. Equities analysts anticipate that Ligand Pharmaceuticals Incorporated will post $2.95 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. ValuEngine raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Stephens reissued an “overweight” rating and set a $137.00 price target (up previously from $125.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 9th. TheStreet raised shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Monday, August 7th. Deutsche Bank AG raised their price target on shares of Ligand Pharmaceuticals from $103.00 to $104.00 and gave the stock a “hold” rating in a research report on Tuesday, August 8th. Finally, Roth Capital raised their price target on shares of Ligand Pharmaceuticals from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $133.71.
In other news, CEO John L. Higgins sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $114.87, for a total transaction of $1,378,440.00. Following the sale, the chief executive officer now directly owns 151,171 shares in the company, valued at $17,365,012.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John L. Higgins sold 5,483 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $125.00, for a total value of $685,375.00. Following the sale, the chief executive officer now owns 144,654 shares in the company, valued at $18,081,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,874 shares of company stock valued at $5,766,176. Corporate insiders own 14.70% of the company’s stock.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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