BlackRock Inc. trimmed its holdings in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 0.8% in the first quarter, HoldingsChannel.com reports. The fund owned 2,739,255 shares of the biotechnology company’s stock after selling 22,606 shares during the period. BlackRock Inc. owned 0.14% of Ligand Pharmaceuticals worth $344,350,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of LGND. Manchester Capital Management LLC acquired a new position in shares of Ligand Pharmaceuticals in the first quarter valued at approximately $26,000. Pearl River Capital LLC bought a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth approximately $41,000. FinTrust Capital Advisors LLC raised its holdings in shares of Ligand Pharmaceuticals by 64.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 337 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 132 shares during the period. Financial Gravity Wealth Inc. bought a new stake in shares of Ligand Pharmaceuticals in the 1st quarter worth approximately $51,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Ligand Pharmaceuticals by 33.8% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 713 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 180 shares during the period.
A number of equities research analysts have issued reports on LGND shares. HC Wainwright reissued a “buy” rating and set a $254.00 target price (down previously from $281.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, March 6th. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $138.00 target price on the stock in a report on Tuesday, March 26th. BidaskClub raised shares of 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 shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Monday. Finally, ValuEngine raised shares of 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 given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $195.88.
Shares of LGND stock opened at $110.33 on Thursday. The company has a current ratio of 8.39, a quick ratio of 8.33 and a debt-to-equity ratio of 0.57. Ligand Pharmaceuticals Inc. has a 1 year low of $98.56 and a 1 year high of $278.62. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 2.43 and a beta of 1.40.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, May 2nd. The biotechnology company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.28. Ligand Pharmaceuticals had a net margin of 320.12% and a return on equity of 19.21%. The business had revenue of $43.48 million for the quarter, compared to analysts’ expectations of $38.28 million. During the same quarter in the previous year, the firm posted $1.55 EPS. The business’s revenue for the quarter was down 22.6% compared to the same quarter last year. As a group, sell-side analysts expect that Ligand Pharmaceuticals Inc. will post 2.34 EPS for the current fiscal year.
In other news, CEO John L. Higgins purchased 2,500 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average cost of $113.50 per share, for a total transaction of $283,750.00. Following the transaction, the chief executive officer now directly owns 28,042 shares of the company’s stock, valued at $3,182,767. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jason Aryeh purchased 250 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average price of $107.01 per share, with a total value of $26,752.50. Following the completion of the transaction, the director now directly owns 61,703 shares in the company, valued at $6,602,838.03. The disclosure for this purchase can be found here. Insiders have bought a total of 4,500 shares of company stock valued at $503,895 over the last 90 days. Company insiders own 7.80% of the company’s stock.
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.
Featured Article: Percentage Decliners
Want to see what other hedge funds are holding LGND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ligand Pharmaceuticals Inc. (NASDAQ:LGND).
Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.