Ligand Pharmaceuticals Inc. (LGND) Stake Increased by Conestoga Capital Advisors LLC
Conestoga Capital Advisors LLC raised its stake in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 8.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 339,467 shares of the biotechnology company’s stock after buying an additional 25,220 shares during the period. Ligand Pharmaceuticals comprises about 2.4% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 16th largest position. Conestoga Capital Advisors LLC owned 1.63% of Ligand Pharmaceuticals worth $34,646,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Adams Diversified Equity Fund Inc. acquired a new position in Ligand Pharmaceuticals during the second quarter valued at about $310,000. New York State Teachers Retirement System raised its stake in shares of Ligand Pharmaceuticals by 8.2% in the second quarter. New York State Teachers Retirement System now owns 42,133 shares of the biotechnology company’s stock valued at $5,025,000 after buying an additional 3,200 shares during the period. Willingdon Wealth Management raised its stake in shares of Ligand Pharmaceuticals by 8.5% in the second quarter. Willingdon Wealth Management now owns 8,498 shares of the biotechnology company’s stock valued at $1,014,000 after buying an additional 666 shares during the period. Nordea Investment Management AB purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at approximately $613,000. Finally, Independent Portfolio Consultants Inc. raised 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 valued at $180,000 after buying an additional 1,410 shares during the period.
Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) traded up 1.48% on Monday, hitting $107.31. The company’s stock had a trading volume of 248,388 shares. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 307.48 and a beta of 1.43. Ligand Pharmaceuticals Inc. has a 52 week low of $82.06 and a 52 week high of $139.79. The stock’s 50 day moving average is $98.35 and its 200-day moving average is $112.60.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, November 3rd. The biotechnology company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm had revenue of $21.62 million for the quarter, compared to the consensus estimate of $23.64 million. Ligand Pharmaceuticals had a net margin of 8.51% and a return on equity of 9.98%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. On average, equities research analysts anticipate that Ligand Pharmaceuticals Inc. will post $3.40 earnings per share for the current year.
Several brokerages have recently commented on LGND. CJS Securities decreased their price target on Ligand Pharmaceuticals from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 28th. Roth Capital set a $154.00 price target on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $135.00 price target on the stock in a research note on Tuesday, August 9th. Vetr raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 price target on the stock in a research note on Wednesday, August 10th. Finally, Deutsche Bank AG lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and boosted their price target for the stock from $104.00 to $110.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Ligand Pharmaceuticals has an average rating of “Buy” and an average price target of $139.70.
In other news, Director Jason Aryeh sold 6,330 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $105.28, for a total transaction of $666,422.40. Following the transaction, the director now owns 58,959 shares in the company, valued at approximately $6,207,203.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John W. Kozarich sold 1,666 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $105.40, for a total transaction of $175,596.40. Following the transaction, the director now owns 40,783 shares in the company, valued at approximately $4,298,528.20. The disclosure for this sale can be found here. 14.70% of the stock is currently owned by corporate insiders.
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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