Next Century Growth Investors LLC Has $9.26 Million Stake in Ligand Pharmaceuticals (LGND)

Next Century Growth Investors LLC lowered its position in shares of Ligand Pharmaceuticals (NASDAQ:LGND) by 33.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,039 shares of the biotechnology company’s stock after selling 27,573 shares during the quarter. Next Century Growth Investors LLC owned 0.26% of Ligand Pharmaceuticals worth $9,255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LGND. Carillon Tower Advisers Inc. acquired a new position in Ligand Pharmaceuticals during the fourth quarter valued at approximately $30,730,000. OppenheimerFunds Inc. grew its holdings in Ligand Pharmaceuticals by 74.0% during the fourth quarter. OppenheimerFunds Inc. now owns 252,961 shares of the biotechnology company’s stock valued at $34,638,000 after purchasing an additional 107,580 shares during the period. William Blair Investment Management LLC grew its holdings in Ligand Pharmaceuticals by 8.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,240,071 shares of the biotechnology company’s stock valued at $169,803,000 after purchasing an additional 92,695 shares during the period. Glenmede Trust Co. NA grew its holdings in Ligand Pharmaceuticals by 25.6% during the fourth quarter. Glenmede Trust Co. NA now owns 392,932 shares of the biotechnology company’s stock valued at $53,801,000 after purchasing an additional 80,040 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in Ligand Pharmaceuticals during the fourth quarter valued at approximately $7,134,000.

Shares of Ligand Pharmaceuticals stock traded up $1.12 on Thursday, hitting $198.51. The company had a trading volume of 1,047 shares, compared to its average volume of 430,095. The stock has a market capitalization of $4.25 billion, a PE ratio of 76.81, a price-to-earnings-growth ratio of 1.84 and a beta of 0.96. Ligand Pharmaceuticals has a twelve month low of $111.86 and a twelve month high of $201.30. The company has a quick ratio of 1.37, a current ratio of 1.41 and a debt-to-equity ratio of 0.03.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Tuesday, May 8th. The biotechnology company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.26. The company had revenue of $56.16 million during the quarter, compared to analysts’ expectations of $43.02 million. Ligand Pharmaceuticals had a net margin of 31.40% and a return on equity of 19.10%. The business’s quarterly revenue was up 91.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. equities analysts anticipate that Ligand Pharmaceuticals will post 4.33 EPS for the current fiscal year.

A number of research analysts recently issued reports on LGND shares. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 20th. Craig Hallum boosted their price objective on shares of Ligand Pharmaceuticals from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Roth Capital boosted their price objective on shares of Ligand Pharmaceuticals from $158.00 to $171.00 and gave the company a “buy” rating in a report on Monday, February 26th. BidaskClub cut shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 27th. Finally, TheStreet cut shares of Ligand Pharmaceuticals from a “b” rating to a “c+” rating in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Ligand Pharmaceuticals presently has an average rating of “Buy” and an average price target of $161.00.

In other news, Director Stephen L. Sabba sold 622 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $180.73, for a total value of $112,414.06. Following the sale, the director now owns 26,363 shares of the company’s stock, valued at $4,764,584.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John L. Lamattina sold 4,000 shares of the business’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $194.51, for a total transaction of $778,040.00. Following the completion of the sale, the director now directly owns 24,956 shares in the company, valued at approximately $4,854,191.56. The disclosure for this sale can be found here. Insiders sold 35,908 shares of company stock valued at $6,330,754 in the last quarter. Corporate insiders own 7.80% of the company’s stock.

Ligand Pharmaceuticals Profile

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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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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