Brown Advisory Inc. cut its position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 28.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,279 shares of the biotechnology company’s stock after selling 1,280 shares during the period. Brown Advisory Inc.’s holdings in Ligand Pharmaceuticals were worth $391,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in Ligand Pharmaceuticals by 165.1% in the first quarter. BlackRock Inc. now owns 1,381 shares of the biotechnology company’s stock worth $147,000 after buying an additional 860 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in shares of Ligand Pharmaceuticals by 1,410.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,510 shares of the biotechnology company’s stock worth $180,000 after buying an additional 1,410 shares in the last quarter. Strs Ohio boosted its stake in shares of Ligand Pharmaceuticals by 166.7% in the second quarter. Strs Ohio now owns 1,600 shares of the biotechnology company’s stock worth $190,000 after buying an additional 1,000 shares in the last quarter. Pinnacle Financial Partners Inc. acquired a new stake in shares of Ligand Pharmaceuticals during the second quarter worth about $205,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Ligand Pharmaceuticals during the first quarter worth about $207,000.
Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) traded down 1.112% on Monday, hitting $100.925. 55,567 shares of the stock were exchanged. The company has a 50-day moving average price of $109.47 and a 200-day moving average price of $116.89. The firm has a market capitalization of $2.10 billion, a PE ratio of 9.517 and a beta of 1.23. Ligand Pharmaceuticals Inc. has a one year low of $81.79 and a one year high of $139.79.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.10. Ligand Pharmaceuticals had a net margin of 263.14% and a return on equity of 11.64%. The company had revenue of $19.50 million for the quarter, compared to analyst estimates of $18.12 million. During the same period in the prior year, the firm posted $1.81 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that Ligand Pharmaceuticals Inc. will post $3.45 earnings per share for the current year.
A number of equities research analysts recently issued reports on LGND shares. Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Roth Capital reiterated a “buy” rating and issued a $147.00 price objective on shares of Ligand Pharmaceuticals in a report on Saturday, July 9th. Deutsche Bank AG cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and upped their price objective for the stock from $104.00 to $110.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Finally, Vetr upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 price target for the company in a report on Wednesday, August 10th. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $136.33.
In related news, Director John W. Kozarich sold 1,666 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $105.40, for a total transaction of $175,596.40. Following the transaction, the director now directly owns 40,783 shares of the company’s stock, valued at $4,298,528.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Kozarich sold 1,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $137.57, for a total transaction of $137,570.00. Following the transaction, the director now directly owns 41,783 shares in the company, valued at $5,748,087.31. The disclosure for this sale can be found here. Corporate insiders own 14.70% of the company’s stock.
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 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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