Ligand Pharmaceuticals Incorporated (LGND) Shares Bought by Granite Investment Partners LLC

Granite Investment Partners LLC increased its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,396 shares of the biotechnology company’s stock after acquiring an additional 5,970 shares during the period. Ligand Pharmaceuticals makes up about 1.0% of Granite Investment Partners LLC’s portfolio, making the stock its 27th biggest holding. Granite Investment Partners LLC owned about 0.60% of Ligand Pharmaceuticals worth $15,983,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. First Mercantile Trust Co. raised its stake in Ligand Pharmaceuticals by 1.6% in the 2nd quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 20 shares during the last quarter. Pinebridge Investments L.P. raised its stake in Ligand Pharmaceuticals by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,508 shares of the biotechnology company’s stock worth $304,000 after acquiring an additional 32 shares during the last quarter. Capstone Asset Management Co. raised its stake in Ligand Pharmaceuticals by 3.7% in the 2nd quarter. Capstone Asset Management Co. now owns 2,813 shares of the biotechnology company’s stock worth $341,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Ligand Pharmaceuticals by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the biotechnology company’s stock worth $947,000 after acquiring an additional 100 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Ligand Pharmaceuticals by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 9,975 shares of the biotechnology company’s stock worth $1,211,000 after acquiring an additional 100 shares during the last quarter.

A number of equities analysts recently issued reports on LGND shares. HC Wainwright set a $157.00 target price on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Roth Capital restated a “buy” rating and issued a $158.00 target price (up previously from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. BidaskClub lowered Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. TheStreet upgraded Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Finally, Deutsche Bank AG lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price for the company. in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $149.00.

In other news, CEO John L. Higgins sold 5,269 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $142.53, for a total transaction of $750,990.57. Following the sale, the chief executive officer now directly owns 143,542 shares in the company, valued at approximately $20,459,041.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Matthew E. Korenberg sold 6,559 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $142.63, for a total value of $935,510.17. Following the sale, the vice president now owns 8,147 shares in the company, valued at $1,162,006.61. The disclosure for this sale can be found here. Insiders have sold a total of 23,828 shares of company stock valued at $3,301,031 in the last quarter. Company insiders own 8.30% of the company’s stock.

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Ligand Pharmaceuticals Incorporated (NASDAQ LGND) traded down $1.40 during midday trading on Monday, hitting $140.31. The company’s stock had a trading volume of 251,700 shares, compared to its average volume of 248,087. The stock has a market cap of $2,961.31, a price-to-earnings ratio of 105.50, a P/E/G ratio of 2.17 and a beta of 0.94. Ligand Pharmaceuticals Incorporated has a twelve month low of $95.08 and a twelve month high of $149.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.32. The business had revenue of $33.38 million during the quarter, compared to analyst estimates of $31.04 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The company’s revenue was up 54.4% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. sell-side analysts expect that Ligand Pharmaceuticals Incorporated will post 2.35 earnings per share for the current year.

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

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