Ligand Pharmaceuticals Incorporated (LGND) Shares Sold by Victory Capital Management Inc.
Victory Capital Management Inc. lowered its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 0.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 678,945 shares of the biotechnology company’s stock after selling 3,265 shares during the period. Victory Capital Management Inc. owned approximately 3.23% of Ligand Pharmaceuticals worth $82,424,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of LGND. BlackRock Inc. boosted its position in Ligand Pharmaceuticals by 166,566.2% in the first quarter. BlackRock Inc. now owns 2,614,993 shares of the biotechnology company’s stock worth $276,770,000 after buying an additional 2,613,424 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Ligand Pharmaceuticals by 42.3% in the first quarter. William Blair Investment Management LLC now owns 1,728,178 shares of the biotechnology company’s stock worth $182,910,000 after buying an additional 513,531 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Ligand Pharmaceuticals by 38.2% in the second quarter. Russell Investments Group Ltd. now owns 372,465 shares of the biotechnology company’s stock worth $45,217,000 after buying an additional 102,892 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Ligand Pharmaceuticals during the first quarter worth about $10,702,000. Finally, Gotham Asset Management LLC boosted its position in shares of Ligand Pharmaceuticals by 246.7% in the first quarter. Gotham Asset Management LLC now owns 117,749 shares of the biotechnology company’s stock worth $12,463,000 after buying an additional 83,784 shares in the last quarter.
Ligand Pharmaceuticals Incorporated (NASDAQ LGND) opened at 124.05 on Friday. Ligand Pharmaceuticals Incorporated has a 52 week low of $87.50 and a 52 week high of $129.94. The company has a market capitalization of $2.61 billion, a PE ratio of 302.56 and a beta of 0.96. The firm’s 50-day moving average price is $122.91 and its 200 day moving average price is $113.41.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.42. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. The business had revenue of $28 million for the quarter, compared to the consensus estimate of $24.40 million. During the same period last year, the business posted $0.50 EPS. The business’s revenue was up 43.6% compared to the same quarter last year. Equities research analysts expect that Ligand Pharmaceuticals Incorporated will post $2.95 earnings per share for the current fiscal year.
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LGND has been the topic of a number of recent research reports. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. Roth Capital set a $120.00 target price on Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, May 22nd. ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. BidaskClub upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $103.00 target price (up from $100.00) on shares of Ligand Pharmaceuticals in a report on Monday, July 17th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $133.71.
In other news, insider Matthew W. Foehr sold 6,100 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $127.51, for a total value of $777,811.00. Following the transaction, the insider now directly owns 101,020 shares in the company, valued at approximately $12,881,060.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John L. Higgins sold 12,000 shares of Ligand Pharmaceuticals stock in a transaction on Friday, June 9th. The shares were sold at an average price of $114.87, for a total value of $1,378,440.00. Following the completion of the transaction, the chief executive officer now owns 151,171 shares in the company, valued at $17,365,012.77. The disclosure for this sale can be found here. Insiders sold a total of 48,874 shares of company stock worth $6,022,156 over the last quarter. Company 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 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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