Turner Investments LLC bought a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,000 shares of the biotechnology company’s stock, valued at approximately $272,000.
Several other institutional investors have also made changes to their positions in the company. Granite Investment Partners LLC increased its position in shares of Ligand Pharmaceuticals by 5.4% during the 3rd quarter. Granite Investment Partners LLC now owns 117,396 shares of the biotechnology company’s stock valued at $15,983,000 after purchasing an additional 5,970 shares during the last quarter. Stephens Investment Management Group LLC increased its position in shares of Ligand Pharmaceuticals by 0.7% during the 3rd quarter. Stephens Investment Management Group LLC now owns 451,228 shares of the biotechnology company’s stock valued at $61,435,000 after purchasing an additional 2,950 shares during the last quarter. Columbia Partners L L C Investment Management increased its holdings in Ligand Pharmaceuticals by 76.5% in the 3rd quarter. Columbia Partners L L C Investment Management now owns 10,385 shares of the biotechnology company’s stock worth $1,413,000 after acquiring an additional 4,502 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Ligand Pharmaceuticals by 8.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 383,919 shares of the biotechnology company’s stock worth $52,272,000 after acquiring an additional 29,620 shares during the last quarter. Finally, 361 Capital LLC purchased a new stake in Ligand Pharmaceuticals in the 3rd quarter worth about $2,099,000.
In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 2,000 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $127.99, for a total transaction of $255,980.00. Following the completion of the transaction, the director now owns 59,625 shares of the company’s stock, valued at approximately $7,631,403.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Matthew E. Korenberg sold 6,559 shares of Ligand Pharmaceuticals 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 transaction, the vice president now directly owns 8,147 shares of the company’s stock, valued at approximately $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 ninety days. Insiders own 8.30% of the company’s stock.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) traded down $9.81 during mid-day trading on Tuesday, reaching $130.50. The company’s stock had a trading volume of 899,400 shares, compared to its average volume of 250,994. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2,760.00, a price-to-earnings ratio of 105.50, a PEG ratio of 2.17 and a beta of 0.93. Ligand Pharmaceuticals Incorporated has a 1-year low of $95.08 and a 1-year high of $149.31.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results 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 quarterly revenue was up 54.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. sell-side analysts expect that Ligand Pharmaceuticals Incorporated will post 2.35 EPS for the current fiscal year.
LGND has been the subject of several recent research reports. HC Wainwright set a $157.00 price objective on Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, October 18th. Roth Capital reissued a “buy” rating and issued a $158.00 price objective (up previously from $135.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 11th. BidaskClub lowered Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. TheStreet raised Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, August 7th. Finally, Deutsche Bank AG lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price objective for the company. in a report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $149.00.
Ligand Pharmaceuticals Company Profile
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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