Advisor Partners LLC Acquires New Holdings in Ligand Pharmaceuticals Inc. (LGND)

Advisor Partners LLC acquired a new position in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 754 shares of the biotechnology company’s stock, valued at approximately $207,000.

Several other large investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Ligand Pharmaceuticals by 8.3% during the second quarter. BlackRock Inc. now owns 3,264,974 shares of the biotechnology company’s stock worth $676,405,000 after acquiring an additional 251,145 shares in the last quarter. Janus Henderson Group PLC increased its position in Ligand Pharmaceuticals by 6.3% during the second quarter. Janus Henderson Group PLC now owns 927,101 shares of the biotechnology company’s stock worth $192,068,000 after buying an additional 54,990 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in Ligand Pharmaceuticals by 12.8% during the third quarter. Conestoga Capital Advisors LLC now owns 566,223 shares of the biotechnology company’s stock worth $155,423,000 after buying an additional 64,329 shares during the last quarter. Victory Capital Management Inc. increased its position in Ligand Pharmaceuticals by 5.3% during the second quarter. Victory Capital Management Inc. now owns 537,355 shares of the biotechnology company’s stock worth $111,324,000 after buying an additional 27,075 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Ligand Pharmaceuticals by 43.7% during the second quarter. Renaissance Technologies LLC now owns 523,494 shares of the biotechnology company’s stock worth $108,452,000 after buying an additional 159,100 shares during the last quarter.

Several equities analysts have commented on the stock. BidaskClub downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. HC Wainwright reissued a “buy” rating and set a $281.00 target price on shares of Ligand Pharmaceuticals in a research report on Monday, November 5th. Craig Hallum increased their target price on shares of Ligand Pharmaceuticals from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. ValuEngine downgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Stephens reissued a “buy” rating and set a $248.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Ligand Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $227.00.

In other news, SVP Charles S. Berkman sold 2,813 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $250.69, for a total value of $705,190.97. Following the sale, the senior vice president now directly owns 30,576 shares of the company’s stock, valued at $7,665,097.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Charles S. Berkman sold 19,417 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $254.99, for a total value of $4,951,140.83. Following the completion of the sale, the senior vice president now directly owns 28,232 shares in the company, valued at $7,198,877.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,422 shares of company stock worth $19,791,812. 7.80% of the stock is currently owned by company insiders.

Shares of NASDAQ:LGND opened at $151.91 on Friday. The stock has a market capitalization of $3.28 billion, a PE ratio of 59.11, a price-to-earnings-growth ratio of 1.36 and a beta of 1.52. Ligand Pharmaceuticals Inc. has a 52-week low of $126.50 and a 52-week high of $278.62. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.19 and a current ratio of 2.20.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, November 8th. The biotechnology company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.29. The company had revenue of $45.66 million for the quarter, compared to the consensus estimate of $41.99 million. Ligand Pharmaceuticals had a return on equity of 26.17% and a net margin of 73.78%. The firm’s revenue was up 36.8% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. On average, sell-side analysts predict that Ligand Pharmaceuticals Inc. will post 5.71 earnings per share for the current year.

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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.

Further Reading: How are the companies in the S&P 500 selected?

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

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