Geode Capital Management LLC Has $26.04 Million Stake in Ligand Pharmaceuticals (LGND)

Geode Capital Management LLC lifted its position in Ligand Pharmaceuticals (NASDAQ:LGND) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 190,186 shares of the biotechnology company’s stock after buying an additional 10,006 shares during the period. Geode Capital Management LLC owned approximately 0.90% of Ligand Pharmaceuticals worth $26,042,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Ligand Pharmaceuticals by 1.7% in the 4th quarter. BlackRock Inc. now owns 2,996,960 shares of the biotechnology company’s stock worth $410,374,000 after buying an additional 51,259 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Ligand Pharmaceuticals by 26.7% in the 3rd quarter. Janus Henderson Group PLC now owns 754,692 shares of the biotechnology company’s stock worth $102,751,000 after purchasing an additional 159,201 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in Ligand Pharmaceuticals by 13.1% in the 4th quarter. Conestoga Capital Advisors LLC now owns 489,830 shares of the biotechnology company’s stock worth $67,072,000 after purchasing an additional 56,705 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Ligand Pharmaceuticals by 8.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 383,919 shares of the biotechnology company’s stock worth $52,272,000 after purchasing an additional 29,620 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Ligand Pharmaceuticals by 14.5% in the 4th quarter. Rice Hall James & Associates LLC now owns 306,858 shares of the biotechnology company’s stock worth $42,018,000 after purchasing an additional 38,844 shares in the last quarter.

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Shares of Ligand Pharmaceuticals (NASDAQ LGND) opened at $161.27 on Monday. The company has a market cap of $3,419.57, a P/E ratio of 316.22, a P/E/G ratio of 1.63 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.97. Ligand Pharmaceuticals has a 12 month low of $102.56 and a 12 month high of $184.79.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Wednesday, February 21st. The biotechnology company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.19 by $0.12. Ligand Pharmaceuticals had a net margin of 8.90% and a return on equity of 14.44%. The business had revenue of $50.50 million during the quarter, compared to analysts’ expectations of $49.39 million. During the same period in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was up 32.2% compared to the same quarter last year. analysts anticipate that Ligand Pharmaceuticals will post 3.59 earnings per share for the current fiscal year.

In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 2,500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $145.00, for a total transaction of $362,500.00. Following the completion of the sale, the director now directly owns 33,149 shares in the company, valued at approximately $4,806,605. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen L. Sabba sold 622 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $180.73, for a total transaction of $112,414.06. Following the sale, the director now owns 26,363 shares of the company’s stock, valued at $4,764,584.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,587 shares of company stock valued at $15,752,728. Company insiders own 8.30% of the company’s stock.

A number of analysts recently commented on LGND shares. HC Wainwright set a $169.00 target price on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, December 27th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a research note on Wednesday, February 28th. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 8th. Craig Hallum lifted their target price on shares of Ligand Pharmaceuticals from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, TheStreet cut shares of Ligand Pharmaceuticals from a “b” rating to a “c+” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $161.00.

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Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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