Rice Hall James & Associates LLC reduced its position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 322,245 shares of the biotechnology company’s stock after selling 19,896 shares during the quarter. Ligand Pharmaceuticals makes up about 1.2% of Rice Hall James & Associates LLC’s portfolio, making the stock its 17th largest position. Rice Hall James & Associates LLC’s holdings in Ligand Pharmaceuticals were worth $36,784,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Ligand Pharmaceuticals by 18.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 207,306 shares of the biotechnology company’s stock worth $28,132,000 after purchasing an additional 32,096 shares in the last quarter. Norges Bank bought a new position in Ligand Pharmaceuticals in the fourth quarter valued at approximately $31,990,000. Geode Capital Management LLC boosted its stake in Ligand Pharmaceuticals by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 248,460 shares of the biotechnology company’s stock valued at $33,716,000 after acquiring an additional 20,769 shares during the last quarter. Virtu Financial LLC boosted its stake in Ligand Pharmaceuticals by 119.1% in the first quarter. Virtu Financial LLC now owns 3,429 shares of the biotechnology company’s stock valued at $431,000 after acquiring an additional 1,864 shares during the last quarter. Finally, Harvest Investment Services LLC bought a new position in Ligand Pharmaceuticals in the first quarter valued at approximately $665,000.
In related news, Director Jason Aryeh acquired 250 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average cost of $112.01 per share, for a total transaction of $28,002.50. Following the completion of the acquisition, the director now directly owns 59,618 shares in the company, valued at approximately $6,677,812.18. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sunil Patel acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $95.98 per share, for a total transaction of $95,980.00. Following the completion of the acquisition, the director now owns 26,359 shares of the company’s stock, valued at $2,529,936.82. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 9,600 shares of company stock worth $955,507. 8.40% of the stock is currently owned by company insiders.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.30. The company had revenue of $24.99 million for the quarter, compared to analyst estimates of $21.01 million. Ligand Pharmaceuticals had a net margin of 389.58% and a return on equity of 11.24%. The business’s revenue for the quarter was down 72.2% compared to the same quarter last year. During the same period last year, the business posted $2.59 earnings per share. As a group, analysts forecast that Ligand Pharmaceuticals Inc. will post 2.28 earnings per share for the current year.
Several research firms have weighed in on LGND. ValuEngine lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 target price on the stock. in a report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $214.00 target price (down from $254.00) on shares of Ligand Pharmaceuticals in a report on Friday, May 3rd. Barclays cut their target price on shares of Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Finally, Argus set a $140.00 target price on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, June 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Ligand Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $165.83.
Ligand Pharmaceuticals Company 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; Aziyo portfolio of 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.
Featured Article: Investing in Growth Stocks
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).
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.