Suffolk Capital Management LLC Has $800,000 Holdings in Ligand Pharmaceuticals Incorporated (LGND)
Suffolk Capital Management LLC reduced its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 57.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,879 shares of the biotechnology company’s stock after selling 7,798 shares during the period. Suffolk Capital Management LLC’s holdings in Ligand Pharmaceuticals were worth $800,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of LGND. Schwab Charles Investment Management Inc. raised its stake in shares of Ligand Pharmaceuticals by 19.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 102,959 shares of the biotechnology company’s stock valued at $10,898,000 after purchasing an additional 16,899 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Ligand Pharmaceuticals by 7.7% in the 2nd quarter. Eagle Asset Management Inc. now owns 490,841 shares of the biotechnology company’s stock valued at $59,588,000 after purchasing an additional 35,289 shares in the last quarter. Round Table Services LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter valued at about $205,000. Teacher Retirement System of Texas acquired a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $203,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $1,078,000.
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LGND has been the topic of several research reports. HC Wainwright reiterated a “buy” rating and set a $150.00 price objective on shares of Ligand Pharmaceuticals in a research note on Tuesday, September 5th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 price objective on the stock in a research note on Thursday, October 12th. BidaskClub lowered shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG reiterated a “hold” rating and set a $103.00 price objective (up previously from $100.00) on shares of Ligand Pharmaceuticals in a research note on Monday, July 17th. Finally, Roth Capital reiterated a “buy” rating and set a $158.00 price objective (up previously from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Ligand Pharmaceuticals has a consensus rating of “Buy” and an average target price of $144.20.
In related news, CEO John L. Higgins sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $130.00, for a total transaction of $650,000.00. Following the completion of the sale, the chief executive officer now directly owns 144,171 shares in the company, 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, Director Jason Aryeh sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $127.99, for a total transaction of $255,980.00. Following the sale, the director now owns 59,625 shares of the company’s stock, valued at $7,631,403.75. The disclosure for this sale can be found here. Company insiders own 14.70% of the company’s stock.
Ligand Pharmaceuticals Incorporated (LGND) traded down $4.96 during trading on Friday, hitting $139.90. 702,000 shares of the stock traded hands, compared to its average volume of 246,937. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $3,057.34, a PE ratio of 108.92, a PEG ratio of 2.24 and a beta of 0.94. Ligand Pharmaceuticals Incorporated has a twelve month low of $95.08 and a twelve month high of $149.31.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.32. The business had revenue of $33.38 million during the quarter, compared to analysts’ expectations of $31.04 million. Ligand Pharmaceuticals had a net margin of 12.76% and a return on equity of 8.03%. The business’s revenue was up 54.4% on a year-over-year basis. During the same period last year, the firm posted $0.62 earnings per share. equities research analysts forecast that Ligand Pharmaceuticals Incorporated will post 2.35 earnings per share for the current year.
About Ligand Pharmaceuticals
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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