Profund Advisors LLC reduced its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 0.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,289 shares of the biotechnology company’s stock after selling 11 shares during the period. Profund Advisors LLC’s holdings in Ligand Pharmaceuticals were worth $1,249,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LGND. BlackRock Inc. increased its stake in shares of Ligand Pharmaceuticals by 166,566.2% in the 1st 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. Russell Investments Group Ltd. increased its stake in shares of Ligand Pharmaceuticals by 38.2% in the 2nd 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 acquired a new stake in shares of Ligand Pharmaceuticals in the 1st quarter valued at $10,702,000. Gotham Asset Management LLC increased its stake in shares of Ligand Pharmaceuticals by 246.7% in the 1st 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. Finally, Vanguard Group Inc. increased its stake in shares of Ligand Pharmaceuticals by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 1,687,618 shares of the biotechnology company’s stock valued at $178,618,000 after buying an additional 74,193 shares during the period.
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Several research firms have recently commented on LGND. TheStreet raised Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, August 7th. HC Wainwright reissued a “buy” rating and issued a $150.00 target price on shares of Ligand Pharmaceuticals in a research note on Tuesday, September 5th. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Stephens reissued an “overweight” rating and issued a $137.00 target price (up from $125.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 9th. Finally, BidaskClub raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $132.29.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) opened at 136.38 on Thursday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 332.63 and a beta of 0.99. Ligand Pharmaceuticals Incorporated has a 52-week low of $87.50 and a 52-week high of $138.49. The stock has a 50 day moving average price of $128.78 and a 200 day moving average price of $116.74.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.42. The business had revenue of $28.00 million during the quarter, compared to the consensus estimate of $24.40 million. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. Ligand Pharmaceuticals’s quarterly revenue was up 43.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. Analysts anticipate that Ligand Pharmaceuticals Incorporated will post $2.95 EPS for the current fiscal year.
In related news, insider Matthew W. Foehr sold 6,100 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $127.51, for a total value of $777,811.00. Following the completion of the sale, the insider now directly owns 101,020 shares in the company, valued at $12,881,060.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles S. Berkman sold 18,625 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $126.96, for a total value of $2,364,630.00. Following the completion of the sale, the vice president now owns 24,423 shares of the company’s stock, valued at $3,100,744.08. The disclosure for this sale can be found here. Insiders sold 37,208 shares of company stock valued at $4,733,796 over the last 90 days. 14.70% of the stock is currently owned by company insiders.
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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