Janney Montgomery Scott LLC cut its holdings in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 2.9% during the 4th quarter, HoldingsChannel reports. The fund owned 29,168 shares of the biotechnology company’s stock after selling 873 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ligand Pharmaceuticals were worth $3,958,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Ligand Pharmaceuticals by 3.3% during the third quarter. Vanguard Group Inc. now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after buying an additional 66,789 shares in the last quarter. Woodstock Corp grew its stake in Ligand Pharmaceuticals by 4.6% during the fourth quarter. Woodstock Corp now owns 69,759 shares of the biotechnology company’s stock worth $9,466,000 after buying an additional 3,051 shares in the last quarter. Fisher Asset Management LLC grew its stake in Ligand Pharmaceuticals by 55.1% during the fourth quarter. Fisher Asset Management LLC now owns 66,105 shares of the biotechnology company’s stock worth $8,970,000 after buying an additional 23,486 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in Ligand Pharmaceuticals by 26,645.0% during the third quarter. Rehmann Capital Advisory Group now owns 93,875 shares of the biotechnology company’s stock worth $342,000 after buying an additional 93,524 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Ligand Pharmaceuticals during the third quarter worth about $368,000.

A number of research firms have recently commented on LGND. ValuEngine cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Roth Capital raised shares of Ligand Pharmaceuticals from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $250.00 to $195.00 in a report on Monday, October 29th. HC Wainwright reissued a “buy” rating and issued a $281.00 target price on shares of Ligand Pharmaceuticals in a report on Monday, November 5th. BidaskClub cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Finally, Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, November 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $238.00.

LGND stock opened at $114.48 on Monday. The stock has a market capitalization of $2.43 billion, a PE ratio of 18.23, a P/E/G ratio of 1.17 and a beta of 1.40. The company has a debt-to-equity ratio of 1.09, a current ratio of 10.59 and a quick ratio of 10.50. Ligand Pharmaceuticals Inc. has a 12 month low of $98.56 and a 12 month high of $278.62.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Thursday, February 7th. The biotechnology company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.48. The firm had revenue of $59.59 million during the quarter, compared to analysts’ expectations of $52.58 million. Ligand Pharmaceuticals had a net margin of 57.00% and a return on equity of 26.00%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, analysts anticipate that Ligand Pharmaceuticals Inc. will post 4.88 EPS for the current year.

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About Ligand Pharmaceuticals

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.

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

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