Virginia Retirement Systems ET AL reduced its stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 11.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,600 shares of the biotechnology company’s stock after selling 1,000 shares during the period. Virginia Retirement Systems ET AL’s holdings in Ligand Pharmaceuticals were worth $2,086,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of LGND. BlackRock Inc. lifted its stake 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 buying an additional 251,145 shares during the period. Renaissance Technologies LLC lifted its stake in shares of 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 period. Conestoga Capital Advisors LLC lifted its stake in shares of 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 period. Janus Henderson Group PLC lifted its stake in shares of 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 period. Finally, Federated Investors Inc. PA lifted its position in Ligand Pharmaceuticals by 293.4% during the second quarter. Federated Investors Inc. PA now owns 65,639 shares of the biotechnology company’s stock valued at $13,598,000 after purchasing an additional 48,953 shares during the period.
LGND has been the subject of a number of research reports. BidaskClub downgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. HC Wainwright set a $270.00 target price on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, September 19th. Argus set a $300.00 target price on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Roth Capital upgraded shares of Ligand Pharmaceuticals from a “neutral” rating to a “buy” rating and decreased their target price for the company from $250.00 to $195.00 in a research report on Monday, October 29th. Finally, Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $244.43.
Shares of Ligand Pharmaceuticals stock traded down $9.39 during trading hours on Wednesday, reaching $152.77. The stock had a trading volume of 584,870 shares, compared to its average volume of 800,440. The company has a market cap of $3.35 billion, a P/E ratio of 59.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.49. Ligand Pharmaceuticals Inc. has a twelve month low of $127.65 and a twelve month 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 data on Thursday, November 8th. The biotechnology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.29. The business had revenue of $45.66 million during the quarter, compared to the consensus estimate of $41.99 million. Ligand Pharmaceuticals had a net margin of 73.78% and a return on equity of 26.17%. The company’s revenue was up 36.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Equities research analysts forecast that Ligand Pharmaceuticals Inc. will post 5.91 EPS for the current year.
In other news, COO Matthew W. Foehr sold 12,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $273.88, for a total transaction of $3,286,560.00. Following the completion of the sale, the chief operating officer now owns 105,388 shares of the company’s stock, valued at $28,863,665.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Charles S. Berkman sold 2,813 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $250.69, for a total transaction of $705,190.97. Following the sale, the senior vice president now directly owns 30,576 shares of the company’s stock, valued at approximately $7,665,097.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,813 shares of company stock valued at $5,314,326. Insiders own 7.80% of the company’s stock.
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.
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