Rhumbline Advisers Has $5.93 Million Holdings in Ligand Pharmaceuticals Incorporated (LGND)
Rhumbline Advisers raised its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,518 shares of the biotechnology company’s stock after purchasing an additional 2,959 shares during the quarter. Rhumbline Advisers owned 0.22% of Ligand Pharmaceuticals worth $5,925,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in LGND. Teachers Advisors LLC boosted its stake in shares of Ligand Pharmaceuticals by 5.3% during the 1st quarter. Teachers Advisors LLC now owns 32,825 shares of the biotechnology company’s stock worth $3,474,000 after acquiring an additional 1,657 shares in the last quarter. Capstone Asset Management Co. boosted its stake in shares of Ligand Pharmaceuticals by 3.7% during the 2nd quarter. Capstone Asset Management Co. now owns 2,813 shares of the biotechnology company’s stock worth $341,000 after acquiring an additional 100 shares in the last quarter. Aperio Group LLC boosted its stake in shares of Ligand Pharmaceuticals by 111.2% during the 2nd quarter. Aperio Group LLC now owns 19,485 shares of the biotechnology company’s stock worth $2,365,000 after acquiring an additional 10,260 shares in the last quarter. US Bancorp DE boosted its stake in shares of Ligand Pharmaceuticals by 7.8% during the 2nd quarter. US Bancorp DE now owns 4,144 shares of the biotechnology company’s stock worth $503,000 after acquiring an additional 299 shares in the last quarter. Finally, Strs Ohio boosted its stake in shares of Ligand Pharmaceuticals by 225.0% during the 2nd quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock worth $157,000 after acquiring an additional 900 shares in the last quarter.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) opened at $130.57 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2,782.76, a price-to-earnings ratio of 99.14, a price-to-earnings-growth ratio of 2.03 and a beta of 0.92. Ligand Pharmaceuticals Incorporated has a twelve month low of $95.08 and a twelve month high of $149.31.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.32. The company had revenue of $33.38 million during the quarter, compared to the consensus estimate of $31.04 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. Ligand Pharmaceuticals’s revenue was up 54.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. equities research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 2.37 earnings per share for the current fiscal year.
In other news, Director John W. Kozarich sold 5,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $141.71, for a total transaction of $708,550.00. Following the completion of the sale, the director now directly owns 35,649 shares in the company, valued at approximately $5,051,819.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Matthew E. Korenberg sold 6,559 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $142.63, for a total value of $935,510.17. Following the sale, the vice president now owns 8,147 shares of the company’s stock, valued at $1,162,006.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,828 shares of company stock valued at $3,045,051. Insiders own 8.30% of the company’s stock.
Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday. HC Wainwright set a $163.00 price objective on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank downgraded Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price objective for the company. in a research report on Monday, November 20th. Craig Hallum restated a “buy” rating and set a $170.00 price objective (up from $160.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 15th. Finally, Roth Capital set a $158.00 price objective on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Ligand Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $149.67.
Ligand Pharmaceuticals 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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