Ligand Pharmaceuticals Incorporated (LGND) Position Increased by Alps Advisors Inc.
Alps Advisors Inc. boosted its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,603 shares of the biotechnology company’s stock after buying an additional 1,720 shares during the quarter. Alps Advisors Inc. owned approximately 0.10% of Ligand Pharmaceuticals worth $2,805,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Strs Ohio boosted its stake in Ligand Pharmaceuticals by 225.0% in the 2nd quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock valued at $157,000 after buying an additional 900 shares in the last quarter. First Mercantile Trust Co. boosted its stake in Ligand Pharmaceuticals by 1.6% in the 2nd quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 20 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at $203,000. Harbor Advisors LLC acquired a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at $204,000. Finally, Round Table Services LLC acquired a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at $205,000.
Several analysts recently commented on LGND shares. HC Wainwright reaffirmed a “buy” rating and issued a $150.00 price target on shares of Ligand Pharmaceuticals in a research note on Tuesday, September 5th. Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 price target on the stock in a research note on Thursday, October 12th. BidaskClub lowered Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG reissued a “hold” rating and issued a $103.00 price objective (up previously from $100.00) on shares of Ligand Pharmaceuticals in a research note on Monday, July 17th. Finally, Roth Capital reissued a “buy” rating and issued a $158.00 price objective (up previously from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $144.20.
In other news, Director Jason Aryeh sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $127.99, for a total transaction of $255,980.00. Following the completion of the sale, the director now owns 59,625 shares in the company, valued at $7,631,403.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John L. Higgins sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total value of $650,000.00. Following the sale, the chief executive officer now owns 144,171 shares of the company’s stock, valued at approximately $18,742,230. The disclosure for this sale can be found here. Insiders own 14.70% of the company’s stock.
Ligand Pharmaceuticals Incorporated (LGND) traded down $4.96 during trading on Friday, reaching $139.90. The company’s stock had a trading volume of 702,000 shares, compared to its average volume of 179,531. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2,952.59, a price-to-earnings ratio of 105.19, a P/E/G ratio of 2.16 and a beta of 0.94. Ligand Pharmaceuticals Incorporated has a one year low of $95.08 and a one year high of $149.31.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.32. The company had revenue of $33.38 million during the quarter, compared to the consensus estimate of $31.04 million. Ligand Pharmaceuticals had a return on equity of 8.03% and a net margin of 12.76%. The firm’s quarterly revenue was up 54.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 earnings per share. equities analysts forecast that Ligand Pharmaceuticals Incorporated will post 2.35 EPS for the current year.
Ligand Pharmaceuticals 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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