Advisors Asset Management Inc. acquired a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,404 shares of the biotechnology company’s stock, valued at approximately $327,000.
Several other large investors also recently bought and sold shares of the stock. Strs Ohio lifted its holdings in Ligand Pharmaceuticals by 225.0% during the 2nd quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock worth $157,000 after buying an additional 900 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in Ligand Pharmaceuticals by 1.6% during the 2nd quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after buying an additional 20 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Ligand Pharmaceuticals during the 2nd quarter worth approximately $203,000. Harbor Advisors LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter valued at $204,000. Finally, Round Table Services LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter valued at $205,000.
A number of equities research analysts have recently weighed in on LGND shares. HC Wainwright restated a “buy” rating and issued a $159.00 price objective on shares of Ligand Pharmaceuticals in a report on Wednesday, November 22nd. Roth Capital restated a “buy” rating and issued a $158.00 price objective (up from $135.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 11th. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Deutsche Bank lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price objective on the stock. in a report on Monday, November 20th. Finally, ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Ligand Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $149.67.
Ligand Pharmaceuticals Incorporated (LGND) opened at $129.55 on Thursday. Ligand Pharmaceuticals Incorporated has a 52-week low of $95.08 and a 52-week high of $149.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97. The stock has a market cap of $2,709.10, a price-to-earnings ratio of 96.51, a price-to-earnings-growth ratio of 1.97 and a beta of 0.91.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a net margin of 12.76% and a return on equity of 7.83%. The company had revenue of $33.38 million for the quarter, compared to the consensus estimate of $31.04 million. During the same period last year, the firm posted $0.62 EPS. Ligand Pharmaceuticals’s revenue for the quarter was up 54.4% on a year-over-year basis. equities analysts anticipate that Ligand Pharmaceuticals Incorporated will post 2.37 earnings per share for the current fiscal year.
In other news, Director John W. Kozarich sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $141.71, for a total value of $708,550.00. Following the sale, the director now owns 35,649 shares of the company’s stock, valued at $5,051,819.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John L. Higgins sold 5,269 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $142.53, for a total transaction of $750,990.57. Following the completion of the sale, the chief executive officer now directly owns 143,542 shares in the company, valued at approximately $20,459,041.26. The disclosure for this sale can be found here. Insiders have sold a total of 16,828 shares of company stock worth $2,395,051 over the last three months. 8.30% of the stock is currently owned by insiders.
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About Ligand Pharmaceuticals
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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