Fmr LLC lowered its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 401,213 shares of the biotechnology company’s stock after selling 22,850 shares during the quarter. Fmr LLC owned 1.91% of Ligand Pharmaceuticals worth $48,707,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Strs Ohio lifted its holdings in Ligand Pharmaceuticals by 225.0% during the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock valued at $157,000 after purchasing an additional 900 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in Ligand Pharmaceuticals by 1.6% during the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock valued at $159,000 after purchasing an additional 20 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Ligand Pharmaceuticals during the first quarter valued at approximately $174,000. Teacher Retirement System of Texas purchased a new position in Ligand Pharmaceuticals during the second quarter valued at approximately $203,000. Finally, Riverhead Capital Management LLC lifted its holdings in Ligand Pharmaceuticals by 99.8% during the second quarter. Riverhead Capital Management LLC now owns 1,798 shares of the biotechnology company’s stock valued at $218,000 after purchasing an additional 898 shares in the last quarter.
Shares of Ligand Pharmaceuticals Incorporated (NASDAQ LGND) opened at 141.74 on Tuesday. The company has a market cap of $2.98 billion, a PE ratio of 345.71 and a beta of 1.01. The stock’s 50 day moving average is $135.83 and its 200 day moving average is $120.88. Ligand Pharmaceuticals Incorporated has a 52-week low of $87.50 and a 52-week high of $144.34.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $24.40 million. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue was up 43.6% on a year-over-year basis. Equities analysts forecast that Ligand Pharmaceuticals Incorporated will post $2.95 EPS for the current year.
Several equities analysts have weighed in on LGND shares. TheStreet raised shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, August 7th. HC Wainwright reiterated a “buy” rating and set a $157.00 price objective on shares of Ligand Pharmaceuticals in a research report on Thursday, October 5th. BidaskClub cut shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Roth Capital lifted their price objective on shares of Ligand Pharmaceuticals from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Finally, Deutsche Bank AG lifted their price objective on shares of Ligand Pharmaceuticals from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Ligand Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $144.20.
In other news, insider Matthew W. Foehr sold 6,100 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $127.51, for a total transaction of $777,811.00. Following the transaction, the insider now owns 101,020 shares in the company, valued at approximately $12,881,060.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John L. Higgins sold 5,483 shares of the 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 transaction, the chief executive officer now owns 144,654 shares in the company, valued at approximately $18,081,750. The disclosure for this sale can be found here. Insiders have sold a total of 37,208 shares of company stock worth $4,733,796 in the last quarter. Insiders own 14.70% of the company’s stock.
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Ligand Pharmaceuticals Company Profile
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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