US Bancorp DE trimmed its holdings in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 65.4% during the first quarter, HoldingsChannel.com reports. The firm owned 3,444 shares of the biotechnology company’s stock after selling 6,522 shares during the quarter. US Bancorp DE’s holdings in Ligand Pharmaceuticals were worth $433,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in LGND. Vanguard Group Inc increased its position in Ligand Pharmaceuticals by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 2,090,137 shares of the biotechnology company’s stock valued at $573,721,000 after buying an additional 66,789 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Ligand Pharmaceuticals by 40.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,385,066 shares of the biotechnology company’s stock worth $174,117,000 after purchasing an additional 396,166 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Ligand Pharmaceuticals by 39.6% during the 1st quarter. Victory Capital Management Inc. now owns 655,690 shares of the biotechnology company’s stock worth $82,428,000 after purchasing an additional 186,090 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in Ligand Pharmaceuticals by 27.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 621,006 shares of the biotechnology company’s stock worth $78,067,000 after purchasing an additional 134,173 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Ligand Pharmaceuticals by 468.8% during the 4th quarter. Millennium Management LLC now owns 546,957 shares of the biotechnology company’s stock worth $74,222,000 after purchasing an additional 450,791 shares in the last quarter.
In other news, Director Jason Aryeh acquired 250 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average price of $112.01 per share, for a total transaction of $28,002.50. Following the completion of the purchase, the director now owns 59,618 shares in the company, valued at $6,677,812.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John L. Higgins acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $113.50 per share, for a total transaction of $283,750.00. Following the purchase, the chief executive officer now owns 28,042 shares of the company’s stock, valued at approximately $3,182,767. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 4,500 shares of company stock valued at $503,895. 7.80% of the stock is currently owned by corporate insiders.
Shares of LGND stock traded down $3.66 during trading on Friday, hitting $110.12. The company’s stock had a trading volume of 9,860 shares, compared to its average volume of 263,324. The firm has a market cap of $2.17 billion, a PE ratio of 17.51, a P/E/G ratio of 2.36 and a beta of 1.40. The company has a quick ratio of 8.33, a current ratio of 8.39 and a debt-to-equity ratio of 0.57. Ligand Pharmaceuticals Inc. has a 52 week low of $98.56 and a 52 week high of $278.62.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, May 2nd. The biotechnology company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.28. The company had revenue of $43.48 million during the quarter, compared to analyst estimates of $38.28 million. Ligand Pharmaceuticals had a return on equity of 19.21% and a net margin of 320.12%. Ligand Pharmaceuticals’s quarterly revenue was down 22.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. On average, research analysts expect that Ligand Pharmaceuticals Inc. will post 2.34 earnings per share for the current year.
A number of analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $254.00 price objective (down from $281.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, March 6th. Zacks Investment Research raised Ligand Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $138.00 target price for the company in a report on Tuesday, March 26th. BidaskClub raised Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. Argus set a $140.00 target price on Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Monday. Finally, ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $195.88.
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Ligand Pharmaceuticals Company 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; Aziyo portfolio of 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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