Neuburgh Advisers LLC Has $314,000 Position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND)

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Neuburgh Advisers LLC raised its holdings in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 10.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,750 shares of the biotechnology company’s stock after acquiring an additional 264 shares during the quarter. Neuburgh Advisers LLC’s holdings in Ligand Pharmaceuticals were worth $314,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Janus Henderson Group PLC increased its stake in Ligand Pharmaceuticals by 11.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,542,670 shares of the biotechnology company’s stock valued at $176,096,000 after buying an additional 157,604 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Ligand Pharmaceuticals by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 897,370 shares of the biotechnology company’s stock worth $102,435,000 after purchasing an additional 9,728 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of Ligand Pharmaceuticals by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 636,699 shares of the biotechnology company’s stock worth $72,679,000 after purchasing an additional 15,693 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Ligand Pharmaceuticals by 37.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 557,512 shares of the biotechnology company’s stock worth $70,085,000 after purchasing an additional 152,649 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in shares of Ligand Pharmaceuticals by 3.9% during the 2nd quarter. Stephens Investment Management Group LLC now owns 442,187 shares of the biotechnology company’s stock worth $50,476,000 after purchasing an additional 16,543 shares during the last quarter.

Shares of LGND stock traded up $7.32 during midday trading on Thursday, hitting $99.12. 49,887 shares of the company were exchanged, compared to its average volume of 498,553. The firm has a market capitalization of $1.75 billion, a P/E ratio of 15.84, a PEG ratio of 1.89 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a quick ratio of 13.15 and a current ratio of 13.23. The firm’s 50 day moving average price is $94.26 and its two-hundred day moving average price is $112.17. Ligand Pharmaceuticals Inc. has a 52 week low of $84.45 and a 52 week high of $278.62.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.38 by $0.30. The business had revenue of $24.99 million during the quarter, compared to the consensus estimate of $21.01 million. Ligand Pharmaceuticals had a net margin of 389.58% and a return on equity of 11.24%. Ligand Pharmaceuticals’s revenue was down 72.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.59 EPS. Analysts expect that Ligand Pharmaceuticals Inc. will post 2.28 EPS for the current year.

Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. ValuEngine lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Barclays lowered their price objective on shares of Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. BidaskClub lowered shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, August 30th. Finally, Argus set a $140.00 price objective on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, June 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $147.80.

In other Ligand Pharmaceuticals news, CEO John L. Higgins acquired 1,850 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was purchased at an average price of $95.45 per share, with a total value of $176,582.50. Following the acquisition, the chief executive officer now directly owns 146,749 shares of the company’s stock, valued at approximately $14,007,192.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jason Aryeh acquired 4,004 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average cost of $99.22 per share, with a total value of $397,276.88. Following the acquisition, the director now directly owns 61,953 shares in the company, valued at $6,146,976.66. The disclosure for this purchase can be found here. Insiders have purchased a total of 8,600 shares of company stock valued at $828,747 in the last ninety days. 8.40% of the stock is currently owned by insiders.

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

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