Coe Capital Management LLC bought a new position in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,965 shares of the biotechnology company’s stock, valued at approximately $948,000.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Ligand Pharmaceuticals by 2.6% during the second quarter. BlackRock Inc. now owns 2,683,880 shares of the biotechnology company’s stock worth $325,822,000 after purchasing an additional 68,887 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Ligand Pharmaceuticals by 2.6% during the second quarter. William Blair Investment Management LLC now owns 1,773,434 shares of the biotechnology company’s stock worth $215,295,000 after purchasing an additional 45,256 shares in the last quarter. Vanguard Group Inc. raised its holdings in Ligand Pharmaceuticals by 3.2% during the second quarter. Vanguard Group Inc. now owns 1,741,818 shares of the biotechnology company’s stock worth $211,457,000 after purchasing an additional 54,200 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Ligand Pharmaceuticals by 26.7% during the third 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. Finally, Eagle Asset Management Inc. raised its holdings in Ligand Pharmaceuticals by 7.7% during the second quarter. Eagle Asset Management Inc. now owns 490,841 shares of the biotechnology company’s stock worth $59,588,000 after purchasing an additional 35,289 shares in the last quarter.
In related news, CEO John L. Higgins sold 5,269 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $142.53, for a total value of $750,990.57. Following the sale, the chief executive officer now directly owns 143,542 shares in the company, valued at approximately $20,459,041.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Matthew E. Korenberg sold 6,559 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $142.63, for a total transaction of $935,510.17. Following the completion of the sale, the vice president now owns 8,147 shares in the company, valued at $1,162,006.61. The disclosure for this sale can be found here. Insiders have sold a total of 16,828 shares of company stock worth $2,395,051 over the last 90 days. Insiders own 8.30% of the company’s stock.
Shares of Ligand Pharmaceuticals Inc. (NASDAQ LGND) opened at $135.06 on Tuesday. The company has a market cap of $2,842.70, a price-to-earnings ratio of 101.27, a price-to-earnings-growth ratio of 2.07 and a beta of 0.91. Ligand Pharmaceuticals Inc. has a 1 year low of $95.08 and a 1 year high of $149.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.37 by $0.32. The company had revenue of $33.38 million for the quarter, compared to analyst estimates of $31.04 million. Ligand Pharmaceuticals had a net margin of 25.25% and a return on equity of 8.57%. The business’s revenue was up 54.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. sell-side analysts predict that Ligand Pharmaceuticals Inc. will post 2.37 earnings per share for the current fiscal year.
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Ligand Pharmaceuticals 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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