Ligand Pharmaceuticals Inc. (LGND) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its position in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,100 shares of the biotechnology company’s stock after acquiring an additional 8,823 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Ligand Pharmaceuticals were worth $9,377,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LGND. Renaissance Technologies LLC increased its stake in Ligand Pharmaceuticals by 44.1% during the third quarter. Renaissance Technologies LLC now owns 754,219 shares of the biotechnology company’s stock worth $207,026,000 after acquiring an additional 230,725 shares during the last quarter. FMR LLC increased its stake in Ligand Pharmaceuticals by 21.8% during the third quarter. FMR LLC now owns 536,632 shares of the biotechnology company’s stock worth $147,300,000 after acquiring an additional 96,048 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in Ligand Pharmaceuticals by 26,645.0% during the third quarter. Rehmann Capital Advisory Group now owns 93,875 shares of the biotechnology company’s stock worth $342,000 after acquiring an additional 93,524 shares during the last quarter. BlackRock Inc. increased its stake in Ligand Pharmaceuticals by 2.5% during the third quarter. BlackRock Inc. now owns 3,346,406 shares of the biotechnology company’s stock worth $918,554,000 after acquiring an additional 81,432 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in Ligand Pharmaceuticals by 3.3% during the third quarter. Vanguard Group Inc now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after acquiring an additional 66,789 shares during the last quarter.

LGND stock opened at $120.44 on Thursday. The company has a quick ratio of 10.50, a current ratio of 10.59 and a debt-to-equity ratio of 1.09. Ligand Pharmaceuticals Inc. has a 1 year low of $98.56 and a 1 year high of $278.62. The stock has a market capitalization of $2.56 billion, a PE ratio of 19.18, a P/E/G ratio of 1.17 and a beta of 1.40.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Thursday, February 7th. The biotechnology company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.48. Ligand Pharmaceuticals had a return on equity of 26.00% and a net margin of 57.00%. The business had revenue of $59.59 million during the quarter, compared to analyst estimates of $52.58 million. During the same quarter last year, the firm earned $1.31 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Equities analysts predict that Ligand Pharmaceuticals Inc. will post 4.88 earnings per share for the current year.

A number of research firms have recently issued reports on LGND. HC Wainwright set a $280.00 target price on Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, October 18th. BidaskClub lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Roth Capital upgraded Ligand Pharmaceuticals from a “neutral” rating to a “buy” rating and lowered their target price for the company from $250.00 to $195.00 in a research note on Monday, October 29th. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Finally, ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Ligand Pharmaceuticals has a consensus rating of “Hold” and an average target price of $216.57.

ILLEGAL ACTIVITY WARNING: This news story was originally published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.chaffeybreeze.com/2019/02/14/ligand-pharmaceuticals-inc-lgnd-shares-bought-by-cibc-private-wealth-group-llc.html.

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.

Further Reading: What are catch-up contributions?

Want to see what other hedge funds are holding LGND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ligand Pharmaceuticals Inc. (NASDAQ:LGND).

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

Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply