13,502 Shares in Ligand Pharmaceuticals Incorporated (LGND) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC purchased a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,502 shares of the biotechnology company’s stock, valued at approximately $1,838,000. Convergence Investment Partners LLC owned approximately 0.06% of Ligand Pharmaceuticals at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LGND. Cornerstone Capital Inc. raised its holdings in shares of Ligand Pharmaceuticals by 5.5% in the 3rd quarter. Cornerstone Capital Inc. now owns 71,413 shares of the biotechnology company’s stock valued at $9,723,000 after purchasing an additional 3,744 shares during the period. Stifel Financial Corp raised its holdings in shares of Ligand Pharmaceuticals by 1,447.2% in the 3rd quarter. Stifel Financial Corp now owns 109,124 shares of the biotechnology company’s stock valued at $14,839,000 after purchasing an additional 102,071 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Ligand Pharmaceuticals by 15.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 127,792 shares of the biotechnology company’s stock valued at $17,399,000 after purchasing an additional 17,071 shares during the period. Legal & General Group Plc raised its holdings in shares of Ligand Pharmaceuticals by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 41,023 shares of the biotechnology company’s stock valued at $5,583,000 after purchasing an additional 3,596 shares during the period. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Ligand Pharmaceuticals by 2.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 28,265 shares of the biotechnology company’s stock valued at $3,805,000 after purchasing an additional 599 shares during the period.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 5,269 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $142.53, for a total transaction of $750,990.57. Following the transaction, the chief executive officer now owns 143,542 shares in the company, valued at approximately $20,459,041.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Matthew E. Korenberg sold 6,559 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $142.63, for a total transaction of $935,510.17. Following the transaction, the vice president now owns 8,147 shares in the company, valued at approximately $1,162,006.61. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,828 shares of company stock worth $2,395,051. Insiders own 8.30% of the company’s stock.

LGND has been the topic of a number of research analyst reports. Roth Capital upped their target price on shares of Ligand Pharmaceuticals from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. Deutsche Bank upped their target price on shares of Ligand Pharmaceuticals from $103.00 to $104.00 and gave the company a “hold” rating in a report on Tuesday, August 8th. Stephens reaffirmed an “overweight” rating and issued a $137.00 target price (up from $125.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, August 9th. ValuEngine raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $150.00 price target on shares of Ligand Pharmaceuticals in a report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $149.67.

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) opened at $128.36 on Wednesday. The firm has a market cap of $2,728.94, a PE ratio of 97.22, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $95.08 and a fifty-two week high of $149.31.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.32. The firm had revenue of $33.38 million for the quarter, compared to analysts’ expectations of $31.04 million. Ligand Pharmaceuticals had a net margin of 12.76% and a return on equity of 7.83%. The business’s revenue was up 54.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. equities research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 2.37 earnings per share for the current year.

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Ligand Pharmaceuticals 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.

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

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