Hood River Capital Management LLC Has $24.38 Million Stake in Ligand Pharmaceuticals Inc. (LGND)
Hood River Capital Management LLC increased its stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 7.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 178,039 shares of the biotechnology company’s stock after acquiring an additional 12,937 shares during the period. Ligand Pharmaceuticals accounts for about 1.4% of Hood River Capital Management LLC’s holdings, making the stock its 22nd largest position. Hood River Capital Management LLC’s holdings in Ligand Pharmaceuticals were worth $24,379,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. 361 Capital LLC acquired a new position in shares of Ligand Pharmaceuticals during the 3rd quarter valued at about $2,099,000. Janus Henderson Group PLC increased its holdings in shares of Ligand Pharmaceuticals by 26.7% during the 3rd quarter. Janus Henderson Group PLC now owns 754,692 shares of the biotechnology company’s stock valued at $102,751,000 after acquiring an additional 159,201 shares during the last quarter. Round Table Services LLC acquired a new position in shares of Ligand Pharmaceuticals during the 3rd quarter valued at about $205,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Ligand Pharmaceuticals by 15.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 127,792 shares of the biotechnology company’s stock valued at $17,399,000 after acquiring an additional 17,071 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Ligand Pharmaceuticals by 48.7% during the 3rd quarter. Prudential Financial Inc. now owns 72,150 shares of the biotechnology company’s stock valued at $9,823,000 after acquiring an additional 23,643 shares during the last quarter.
LGND has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $159.00 price objective on shares of Ligand Pharmaceuticals in a report on Wednesday, November 22nd. Zacks Investment Research lowered Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Roth Capital set a $158.00 target price on Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Monday, November 13th. Finally, Deutsche Bank lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a report on Monday, November 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $150.83.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.32. The firm had revenue of $33.38 million for the quarter, compared to analyst estimates of $31.04 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The company’s revenue was up 54.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. equities research analysts forecast that Ligand Pharmaceuticals Inc. will post 3.15 earnings per share for the current fiscal year.
In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $165.00, for a total value of $3,712,500.00. Following the sale, the chief executive officer now owns 111,700 shares of the company’s stock, valued at approximately $18,430,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John L. Higgins sold 28,099 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $153.70, for a total value of $4,318,816.30. Following the completion of the sale, the chief executive officer now directly owns 162,299 shares in the company, valued at approximately $24,945,356.30. The disclosure for this sale can be found here. Insiders sold a total of 70,852 shares of company stock worth $10,915,823 in the last ninety days. Insiders own 8.30% of the company’s stock.
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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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