Raymond James & Associates Increases Stake in Ligand Pharmaceuticals (LGND)

Raymond James & Associates grew its position in shares of Ligand Pharmaceuticals (NASDAQ:LGND) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,471 shares of the biotechnology company’s stock after acquiring an additional 719 shares during the quarter. Raymond James & Associates’ holdings in Ligand Pharmaceuticals were worth $1,297,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LGND. Assetmark Inc. boosted its position in shares of Ligand Pharmaceuticals by 336.4% in the fourth quarter. Assetmark Inc. now owns 1,056 shares of the biotechnology company’s stock worth $145,000 after buying an additional 814 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ligand Pharmaceuticals by 48.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock worth $151,000 after buying an additional 359 shares during the period. Capital One National Association purchased a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth about $252,000. M&T Bank Corp boosted its position in shares of Ligand Pharmaceuticals by 22.9% in the fourth quarter. M&T Bank Corp now owns 1,947 shares of the biotechnology company’s stock worth $267,000 after buying an additional 363 shares during the period. Finally, Barbara Oil Co. purchased a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth about $342,000.

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Shares of LGND opened at $161.77 on Wednesday. The stock has a market capitalization of $3,545.78, a P/E ratio of 62.95, a price-to-earnings-growth ratio of 1.44 and a beta of 0.91. Ligand Pharmaceuticals has a one year low of $104.25 and a one year high of $184.79. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.05.



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 return on equity of 14.44% and a net margin of 8.90%. The firm had revenue of $50.50 million during the quarter, compared to the consensus estimate of $49.39 million. During the same quarter in the prior year, the business posted $1.25 earnings per share. Ligand Pharmaceuticals’s revenue for the quarter was up 32.2% on a year-over-year basis. research analysts anticipate that Ligand Pharmaceuticals will post 4.23 EPS for the current year.

Several equities research analysts have recently weighed in on LGND shares. HC Wainwright set a $169.00 target price on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, December 27th. Craig Hallum upped their target price on Ligand Pharmaceuticals from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. BidaskClub raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Finally, TheStreet downgraded Ligand Pharmaceuticals from a “b” rating to a “c+” rating in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $161.00.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $157.03, for a total transaction of $1,413,270.00. Following the sale, the chief executive officer now owns 102,700 shares in the company, valued at $16,126,981. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen L. Sabba sold 622 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $180.73, for a total value of $112,414.06. Following the sale, the director now owns 26,363 shares in the company, valued at $4,764,584.99. The disclosure for this sale can be found here. Insiders have sold 48,988 shares of company stock worth $7,759,987 in the last 90 days. 8.30% of the stock is currently owned by insiders.

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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.

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

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