Schwab Charles Investment Management Inc. grew its holdings in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 15.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,792 shares of the biotechnology company’s stock after purchasing an additional 17,071 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.61% of Ligand Pharmaceuticals worth $17,399,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of LGND. Strs Ohio grew its position 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 purchasing an additional 900 shares during the period. First Mercantile Trust Co. grew its position 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 purchasing an additional 20 shares during the period. Teacher Retirement System of Texas acquired a new stake in Ligand Pharmaceuticals during the 2nd quarter worth about $203,000. Harbor Advisors LLC acquired a new stake in Ligand Pharmaceuticals during the 3rd quarter worth about $204,000. Finally, Round Table Services LLC acquired a new stake in Ligand Pharmaceuticals during the 3rd quarter worth about $205,000.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 price target on the stock in a research report on Thursday, October 12th. BidaskClub upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Craig Hallum restated a “buy” rating and set a $170.00 target price (up from $160.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 15th. HC Wainwright set a $157.00 target price on Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Deutsche Bank cut 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. Two research analysts have rated the stock with a sell rating, one has assigned 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 $150.67.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.32. The business had revenue of $33.38 million for the quarter, compared to analyst estimates 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 last year, the company posted $0.62 EPS. sell-side analysts forecast that Ligand Pharmaceuticals Inc. will post 3.15 EPS for the current year.
In other Ligand Pharmaceuticals news, VP Matthew E. Korenberg sold 6,559 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was 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 of the company’s stock, valued at $1,162,006.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen L. Sabba sold 925 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $137.25, for a total transaction of $126,956.25. Following the completion of the transaction, the director now owns 26,985 shares of the company’s stock, valued at approximately $3,703,691.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,253 shares of company stock worth $2,884,507. Corporate insiders own 8.30% of the company’s stock.
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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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