SG Americas Securities LLC Has $1.30 Million Stake in Ligand Pharmaceuticals Inc. (LGND)
SG Americas Securities LLC cut its position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 54.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,734 shares of the biotechnology company’s stock after selling 5,582 shares during the quarter. SG Americas Securities LLC’s holdings in Ligand Pharmaceuticals were worth $1,299,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Ligand Pharmaceuticals by 8.3% in the 2nd quarter. BlackRock Inc. now owns 3,264,974 shares of the biotechnology company’s stock valued at $676,405,000 after buying an additional 251,145 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Ligand Pharmaceuticals by 6.3% in the 2nd quarter. Janus Henderson Group PLC now owns 927,101 shares of the biotechnology company’s stock valued at $192,068,000 after buying an additional 54,990 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Ligand Pharmaceuticals by 12.8% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 566,223 shares of the biotechnology company’s stock valued at $155,423,000 after buying an additional 64,329 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Ligand Pharmaceuticals by 43.7% in the 2nd quarter. Renaissance Technologies LLC now owns 523,494 shares of the biotechnology company’s stock valued at $108,452,000 after buying an additional 159,100 shares in the last quarter. Finally, FMR LLC raised its position in shares of Ligand Pharmaceuticals by 3.3% in the 2nd quarter. FMR LLC now owns 440,584 shares of the biotechnology company’s stock valued at $91,276,000 after buying an additional 14,017 shares in the last quarter.
In related news, Director Todd C. Davis sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $253.99, for a total transaction of $634,975.00. Following the completion of the transaction, the director now directly owns 42,556 shares in the company, valued at approximately $10,808,798.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Charles S. Berkman sold 2,813 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $250.69, for a total transaction of $705,190.97. Following the sale, the senior vice president now directly owns 30,576 shares in the company, valued at $7,665,097.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,813 shares of company stock valued at $5,314,326. 7.80% of the stock is owned by corporate insiders.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Thursday, November 8th. The biotechnology company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.29. The business had revenue of $45.66 million during the quarter, compared to analysts’ expectations of $41.99 million. Ligand Pharmaceuticals had a net margin of 73.78% and a return on equity of 26.17%. The firm’s quarterly revenue was up 36.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. As a group, research analysts expect that Ligand Pharmaceuticals Inc. will post 5.91 earnings per share for the current fiscal year.
Several brokerages have recently commented on LGND. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. BidaskClub cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. HC Wainwright set a $281.00 price objective on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, November 19th. ValuEngine cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Goldman Sachs Group started coverage on shares of Ligand Pharmaceuticals in a research report on Friday, August 17th. They set a “neutral” rating and a $256.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $244.43.
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About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.
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