Ligand Pharmaceuticals (LGND) Position Raised by Raymond James & Associates

Raymond James & Associates boosted its stake in Ligand Pharmaceuticals (NASDAQ:LGND) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,471 shares of the biotechnology company’s stock after purchasing an additional 719 shares during the quarter. Raymond James & Associates’ holdings in Ligand Pharmaceuticals were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Ligand Pharmaceuticals by 1.7% in the fourth quarter. BlackRock Inc. now owns 2,996,960 shares of the biotechnology company’s stock valued at $410,374,000 after purchasing an additional 51,259 shares in the last quarter. Cardinal Capital Management LLC CT raised its stake in Ligand Pharmaceuticals by 5.0% in the fourth quarter. Cardinal Capital Management LLC CT now owns 654,346 shares of the biotechnology company’s stock valued at $89,599,000 after purchasing an additional 31,005 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in Ligand Pharmaceuticals by 13.1% in the fourth quarter. Conestoga Capital Advisors LLC now owns 489,830 shares of the biotechnology company’s stock valued at $67,072,000 after purchasing an additional 56,705 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in Ligand Pharmaceuticals by 14.5% in the fourth quarter. Rice Hall James & Associates LLC now owns 306,858 shares of the biotechnology company’s stock valued at $42,018,000 after purchasing an additional 38,844 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its stake in Ligand Pharmaceuticals by 74.0% in the fourth quarter. OppenheimerFunds Inc. now owns 252,961 shares of the biotechnology company’s stock valued at $34,638,000 after purchasing an additional 107,580 shares in the last quarter.

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Shares of NASDAQ LGND opened at $171.05 on Wednesday. Ligand Pharmaceuticals has a one year low of $103.22 and a one year high of $184.79. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The company has a market cap of $3,512.91, a price-to-earnings ratio of 66.56, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90.



Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.12. Ligand Pharmaceuticals had a net margin of 8.90% and a return on equity of 14.44%. The business had revenue of $50.50 million for the quarter, compared to analysts’ expectations of $49.39 million. During the same period last year, the business earned $1.25 earnings per share. The business’s quarterly revenue was up 32.2% on a year-over-year basis. sell-side analysts predict that Ligand Pharmaceuticals will post 4.23 EPS for the current fiscal year.

In other news, Director Stephen L. Sabba sold 622 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $180.73, for a total value of $112,414.06. Following the transaction, the director now owns 26,363 shares in the company, valued at $4,764,584.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John L. Higgins sold 28,099 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $153.70, for a total transaction of $4,318,816.30. Following the completion of the transaction, the chief executive officer now owns 162,299 shares in the company, valued at approximately $24,945,356.30. The disclosure for this sale can be found here. Insiders have sold 99,587 shares of company stock worth $15,791,303 over the last quarter. Company insiders own 8.30% of the company’s stock.

A number of research analysts have commented on the stock. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. HC Wainwright reiterated a “buy” rating and set a $169.00 price target on shares of Ligand Pharmaceuticals in a research report on Thursday, January 18th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $171.00 price target on the stock in a research report on Wednesday, February 28th. Craig Hallum reiterated a “buy” rating and set a $200.00 price target (up from $190.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, March 7th. Finally, Roth Capital increased their price target on shares of Ligand Pharmaceuticals from $158.00 to $171.00 and gave the company a “buy” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $161.00.

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Ligand Pharmaceuticals Profile

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

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