Capstone Asset Management Co. Raises Stake in Ligand Pharmaceuticals Incorporated (LGND)
Capstone Asset Management Co. raised its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 2,813 shares of the biotechnology company’s stock after buying an additional 100 shares during the period. Capstone Asset Management Co.’s holdings in Ligand Pharmaceuticals were worth $341,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth $19,500,000. Campbell Newman Asset Management Inc. boosted its stake in shares of Ligand Pharmaceuticals by 13.6% in the first quarter. Campbell Newman Asset Management Inc. now owns 2,380 shares of the biotechnology company’s stock worth $252,000 after buying an additional 285 shares during the last quarter. Parametrica Management Ltd acquired a new stake in shares of Ligand Pharmaceuticals during the first quarter worth $205,000. Atria Investments LLC boosted its stake in shares of Ligand Pharmaceuticals by 19.5% in the first quarter. Atria Investments LLC now owns 2,455 shares of the biotechnology company’s stock worth $260,000 after buying an additional 401 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Ligand Pharmaceuticals by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,700 shares of the biotechnology company’s stock worth $815,000 after buying an additional 100 shares during the last quarter.
Ligand Pharmaceuticals Incorporated (NASDAQ LGND) traded down 0.343% during trading on Thursday, reaching $126.535. 66,420 shares of the company were exchanged. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 308.622 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 firm has a 50-day moving average of $121.23 and a 200-day moving average of $111.56.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.42. The company had revenue of $28 million during the quarter, compared to analysts’ expectations of $24.40 million. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The business’s quarterly revenue was up 43.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. On average, equities analysts forecast that Ligand Pharmaceuticals Incorporated will post $2.95 EPS for the current year.
A number of analysts recently weighed in on LGND shares. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. Roth Capital set a $120.00 target price on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, May 22nd. ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Finally, Deutsche Bank AG restated a “hold” rating and set a $103.00 target price (up from $100.00) on shares of Ligand Pharmaceuticals in a report on Monday, July 17th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Ligand Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $133.04.
In other news, CEO John L. Higgins sold 4,666 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $120.00, for a total value of $559,920.00. Following the sale, the chief executive officer now owns 143,837 shares of the company’s stock, valued at $17,260,440. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Matthew W. Foehr sold 5,621 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $112.20, for a total transaction of $630,676.20. Following the completion of the sale, the insider now directly owns 98,341 shares in the company, valued at approximately $11,033,860.20. The disclosure for this sale can be found here. Insiders sold 59,534 shares of company stock valued at $6,694,514 in the last quarter. 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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