Lisanti Capital Growth LLC Has $8.27 Million Holdings in Ligand Pharmaceuticals Incorporated $LGND

Lisanti Capital Growth LLC increased its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 47.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,742 shares of the biotechnology company’s stock after acquiring an additional 14,065 shares during the quarter. Ligand Pharmaceuticals comprises about 2.0% of Lisanti Capital Growth LLC’s holdings, making the stock its 3rd biggest holding. Lisanti Capital Growth LLC’s holdings in Ligand Pharmaceuticals were worth $8,270,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fisher Asset Management LLC boosted its position in shares of Ligand Pharmaceuticals by 2.7% in the third quarter. Fisher Asset Management LLC now owns 108,926 shares of the biotechnology company’s stock valued at $19,295,000 after acquiring an additional 2,860 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Ligand Pharmaceuticals by 16.6% in the third quarter. Envestnet Asset Management Inc. now owns 31,915 shares of the biotechnology company’s stock valued at $5,653,000 after acquiring an additional 4,538 shares during the period. Cibc World Market Inc. raised its stake in Ligand Pharmaceuticals by 11.7% in the third quarter. Cibc World Market Inc. now owns 59,131 shares of the biotechnology company’s stock valued at $10,474,000 after purchasing an additional 6,209 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in Ligand Pharmaceuticals by 16.7% in the third quarter. Clark Capital Management Group Inc. now owns 82,991 shares of the biotechnology company’s stock valued at $14,701,000 after purchasing an additional 11,858 shares in the last quarter. Finally, Pier 88 Investment Partners LLC purchased a new stake in Ligand Pharmaceuticals in the third quarter valued at approximately $1,275,000. 91.28% of the stock is currently owned by institutional investors.

Ligand Pharmaceuticals Trading Up 3.2%

LGND stock opened at $229.33 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 20.95 and a current ratio of 21.28. Ligand Pharmaceuticals Incorporated has a one year low of $98.89 and a one year high of $247.38. The company has a market capitalization of $4.60 billion, a PE ratio of 31.12, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20. The company’s 50 day moving average price is $215.18 and its two-hundred day moving average price is $202.85.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, May 14th. The biotechnology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.21). Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The firm had revenue of $51.72 million during the quarter, compared to the consensus estimate of $59.10 million. During the same quarter in the prior year, the business posted $1.33 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts predict that Ligand Pharmaceuticals Incorporated will post 5.46 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Andrew Reardon sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $206.35, for a total value of $1,031,750.00. Following the transaction, the insider owned 36,869 shares in the company, valued at approximately $7,607,918.15. This trade represents a 11.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Kozarich sold 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $223.50, for a total transaction of $352,012.50. Following the completion of the transaction, the director owned 41,786 shares in the company, valued at $9,339,171. This represents a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,949 shares of company stock worth $8,014,056 over the last ninety days. Company insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

LGND has been the topic of a number of recent analyst reports. Oppenheimer raised their target price on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Bank of America initiated coverage on shares of Ligand Pharmaceuticals in a research note on Wednesday, March 11th. They issued a “buy” rating and a $244.00 target price on the stock. Royal Bank Of Canada raised their target price on shares of Ligand Pharmaceuticals from $252.00 to $262.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Citigroup raised their target price on shares of Ligand Pharmaceuticals from $276.00 to $282.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen downgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $257.71.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.