Crossmark Global Holdings Inc. Acquires Shares of 3,123 Ligand Pharmaceuticals Incorporated (LGND)
Crossmark Global Holdings Inc. acquired a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,123 shares of the biotechnology company’s stock, valued at approximately $425,000.
A number of other institutional investors also recently made changes to their positions in the stock. Harbor Advisors LLC purchased a new position in Ligand Pharmaceuticals during the third quarter worth approximately $204,000. Aperio Group LLC lifted its position in Ligand Pharmaceuticals by 3.1% during the third quarter. Aperio Group LLC now owns 20,080 shares of the biotechnology company’s stock worth $2,734,000 after buying an additional 595 shares in the last quarter. First Trust Advisors LP lifted its position in Ligand Pharmaceuticals by 175.6% during the third quarter. First Trust Advisors LP now owns 11,904 shares of the biotechnology company’s stock worth $1,621,000 after buying an additional 7,584 shares in the last quarter. Nationwide Fund Advisors lifted its position in Ligand Pharmaceuticals by 308.7% during the third quarter. Nationwide Fund Advisors now owns 88,095 shares of the biotechnology company’s stock worth $11,994,000 after buying an additional 66,542 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Ligand Pharmaceuticals during the third quarter worth approximately $259,000.
A number of equities analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $159.00 price objective on shares of Ligand Pharmaceuticals in a research report on Wednesday. Deutsche Bank AG cut Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price for the company. in a research note on Monday. Craig Hallum reissued a “buy” rating and set a $170.00 target price (up previously from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. Roth Capital set a $158.00 target price on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 target price for the company in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $149.00.
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In other news, CEO John L. Higgins sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total value of $650,000.00. Following the completion of the sale, the chief executive officer now directly owns 144,171 shares of the company’s stock, valued at $18,742,230. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Matthew E. Korenberg sold 6,559 shares of Ligand Pharmaceuticals stock in a transaction on Friday, November 17th. The shares were sold at an average price of $142.63, for a total value of $935,510.17. Following the completion of the sale, the vice president now directly owns 8,147 shares of the company’s stock, valued at $1,162,006.61. The disclosure for this sale can be found here. Insiders sold 21,828 shares of company stock valued at $3,045,051 over the last ninety days. Insiders own 8.30% of the company’s stock.
Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) opened at $133.06 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97. The stock has a market capitalization of $2,744.34, a price-to-earnings ratio of 97.77, a price-to-earnings-growth ratio of 2.01 and a beta of 0.94. Ligand Pharmaceuticals Incorporated has a one year low of $95.08 and a one year high of $149.31.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The business had revenue of $33.38 million during the quarter, compared to analysts’ expectations of $31.04 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 54.4% on a year-over-year basis. equities analysts expect that Ligand Pharmaceuticals Incorporated will post 2.35 EPS for the current year.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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