Tyers Asset Management LLC lifted its holdings in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 10.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,500 shares of the biotechnology company’s stock after purchasing an additional 336 shares during the period. Tyers Asset Management LLC’s holdings in Ligand Pharmaceuticals were worth $400,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Flinton Capital Management LLC increased its stake in shares of Ligand Pharmaceuticals by 10.6% during the 2nd quarter. Flinton Capital Management LLC now owns 4,250 shares of the biotechnology company’s stock worth $485,000 after purchasing an additional 408 shares in the last quarter. Neuburgh Advisers LLC grew its stake in Ligand Pharmaceuticals by 10.6% in the 2nd quarter. Neuburgh Advisers LLC now owns 2,750 shares of the biotechnology company’s stock worth $314,000 after acquiring an additional 264 shares during the period. Riverhead Capital Management LLC grew its stake in Ligand Pharmaceuticals by 10.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,134 shares of the biotechnology company’s stock worth $358,000 after acquiring an additional 300 shares during the period. Pacer Advisors Inc. purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth approximately $937,000. Finally, Quantamental Technologies LLC purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth approximately $51,000.
In other news, Director Jason Aryeh acquired 250 shares of the business’s stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $106.01 per share, for a total transaction of $26,502.50. Following the acquisition, the director now directly owns 61,953 shares of the company’s stock, valued at approximately $6,567,637.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John L. Higgins acquired 1,850 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was purchased at an average price of $95.45 per share, for a total transaction of $176,582.50. Following the acquisition, the chief executive officer now directly owns 146,749 shares in the company, valued at $14,007,192.05. The disclosure for this purchase can be found here. Insiders acquired a total of 8,600 shares of company stock worth $828,747 in the last quarter. 8.40% of the stock is currently owned by company insiders.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.30. Ligand Pharmaceuticals had a net margin of 389.58% and a return on equity of 11.24%. The firm had revenue of $24.99 million for the quarter, compared to analyst estimates of $21.01 million. During the same quarter in the previous year, the business posted $2.59 EPS. The firm’s revenue was down 72.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Ligand Pharmaceuticals Inc. will post 2.28 EPS for the current fiscal year.
LGND has been the subject of several recent analyst reports. BidaskClub raised shares of Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday. Argus set a $140.00 target price on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, June 10th. Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. Barclays lowered their price objective on shares of Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Finally, ValuEngine cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $147.80.
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; Aziyo portfolio of 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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