Alpine Woods Capital Investors LLC Has $399,000 Stake in Ligand Pharmaceuticals Incorporated (LGND)
Alpine Woods Capital Investors LLC held its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the second quarter, Holdings Channel reports. The firm owned 3,284 shares of the biotechnology company’s stock at the end of the second quarter. Alpine Woods Capital Investors LLC’s holdings in Ligand Pharmaceuticals were worth $399,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Ligand Pharmaceuticals by 166,566.2% in the first quarter. BlackRock Inc. now owns 2,614,993 shares of the biotechnology company’s stock valued at $276,770,000 after buying an additional 2,613,424 shares during the period. William Blair Investment Management LLC boosted its position in shares of Ligand Pharmaceuticals by 42.3% in the first quarter. William Blair Investment Management LLC now owns 1,728,178 shares of the biotechnology company’s stock valued at $182,910,000 after buying an additional 513,531 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Ligand Pharmaceuticals by 38.2% in the second quarter. Russell Investments Group Ltd. now owns 372,465 shares of the biotechnology company’s stock valued at $45,217,000 after buying an additional 102,892 shares during the period. Renaissance Technologies LLC bought a new position in shares of Ligand Pharmaceuticals during the first quarter valued at $10,702,000. Finally, Gotham Asset Management LLC boosted its position in shares of Ligand Pharmaceuticals by 246.7% in the first quarter. Gotham Asset Management LLC now owns 117,749 shares of the biotechnology company’s stock valued at $12,463,000 after buying an additional 83,784 shares during the period.
Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) opened at 126.26 on Friday. The stock’s 50 day moving average price is $122.18 and its 200-day moving average price is $112.68. Ligand Pharmaceuticals Incorporated has a 1-year low of $87.50 and a 1-year high of $129.94. The company has a market capitalization of $2.66 billion, a PE ratio of 307.95 and a beta of 0.96.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share 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 company had revenue of $28 million for the quarter, compared to the consensus estimate of $24.40 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. Ligand Pharmaceuticals’s revenue was up 43.6% on a year-over-year basis. On average, equities analysts predict that Ligand Pharmaceuticals Incorporated will post $2.95 EPS for the current year.
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LGND has been the topic of several recent analyst reports. Zacks Investment Research cut Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Monday, May 15th. BidaskClub cut Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG restated a “hold” rating and set a $103.00 price objective (up from $100.00) on shares of Ligand Pharmaceuticals in a research note on Monday, July 17th. Roth Capital set a $120.00 price objective on Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, May 22nd. Finally, ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $133.71.
In other news, insider Matthew W. Foehr sold 6,100 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $127.51, for a total value of $777,811.00. Following the transaction, the insider now owns 101,020 shares of the company’s stock, valued at $12,881,060.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Charles S. Berkman sold 18,625 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $126.96, for a total value of $2,364,630.00. Following the completion of the transaction, the vice president now directly owns 24,423 shares in the company, valued at approximately $3,100,744.08. The disclosure for this sale can be found here. In the last three months, insiders sold 46,874 shares of company stock worth $5,766,176. 14.70% of the stock is owned by corporate insiders.
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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