BlackRock Advisors LLC boosted its position in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 3.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 37,627 shares of the biotechnology company’s stock after buying an additional 1,111 shares during the period. BlackRock Advisors LLC owned approximately 0.18% of Ligand Pharmaceuticals worth $4,488,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Ligand Pharmaceuticals by 8.0% in the second quarter. Vanguard Group Inc. now owns 1,515,814 shares of the biotechnology company’s stock worth $180,790,000 after buying an additional 111,807 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Ligand Pharmaceuticals by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,377,004 shares of the biotechnology company’s stock worth $147,463,000 after buying an additional 23,969 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Ligand Pharmaceuticals by 2.1% in the second quarter. William Blair Investment Management LLC now owns 1,255,277 shares of the biotechnology company’s stock worth $149,717,000 after buying an additional 25,825 shares during the period. State Street Corp boosted its stake in shares of Ligand Pharmaceuticals by 10.1% in the first quarter. State Street Corp now owns 699,788 shares of the biotechnology company’s stock worth $74,940,000 after buying an additional 64,410 shares during the period. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Ligand Pharmaceuticals during the first quarter worth approximately $80,340,000.
Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) opened at 94.54 on Wednesday. Ligand Pharmaceuticals Inc. has a 1-year low of $82.06 and a 1-year high of $139.79. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 8.91 and a beta of 1.23. The firm has a 50-day moving average of $106.05 and a 200 day moving average of $116.56.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $19.50 million for the quarter, compared to analyst estimates of $18.12 million. Ligand Pharmaceuticals had a net margin of 263.14% and a return on equity of 11.64%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.81 EPS. Equities research analysts forecast that Ligand Pharmaceuticals Inc. will post $3.44 earnings per share for the current year.
A number of analysts have commented on LGND shares. Roth Capital reaffirmed a “buy” rating and set a $149.00 price target on shares of Ligand Pharmaceuticals in a research report on Sunday, August 14th. Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, October 4th. CJS Securities cut their price objective on shares of Ligand Pharmaceuticals from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 28th. Vetr upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 target price on the stock in a report on Wednesday, August 10th. Finally, Deutsche Bank AG upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and lowered their target price for the stock from $110.00 to $105.00 in a report on Wednesday, September 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $139.25.
In other news, CEO John L. Higgins sold 3,000 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $117.34, for a total transaction of $352,020.00. Following the sale, the chief executive officer now owns 122,664 shares of the company’s stock, valued at approximately $14,393,393.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Kozarich sold 1,000 shares of Ligand Pharmaceuticals stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $137.57, for a total transaction of $137,570.00. Following the sale, the director now directly owns 41,783 shares in the company, valued at approximately $5,748,087.31. The disclosure for this sale can be found here. Insiders own 14.70% of the company’s stock.
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 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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