Summit Creek Advisors LLC reduced its stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 0.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,572 shares of the biotechnology company’s stock after selling 80 shares during the quarter. Summit Creek Advisors LLC’s holdings in Ligand Pharmaceuticals were worth $5,980,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LGND. Virtu Financial LLC boosted its stake in Ligand Pharmaceuticals by 119.1% during the first quarter. Virtu Financial LLC now owns 3,429 shares of the biotechnology company’s stock worth $431,000 after buying an additional 1,864 shares during the last quarter. Woodstock Corp boosted its stake in Ligand Pharmaceuticals by 1.4% during the first quarter. Woodstock Corp now owns 70,753 shares of the biotechnology company’s stock worth $8,894,000 after buying an additional 994 shares during the last quarter. American Century Companies Inc. boosted its stake in Ligand Pharmaceuticals by 8.5% during the fourth quarter. American Century Companies Inc. now owns 28,684 shares of the biotechnology company’s stock worth $3,892,000 after buying an additional 2,235 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ligand Pharmaceuticals by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 248,460 shares of the biotechnology company’s stock worth $33,716,000 after buying an additional 20,769 shares during the last quarter. Finally, Norges Bank acquired a new position in Ligand Pharmaceuticals during the fourth quarter worth $31,990,000.

Shares of LGND stock traded down $0.25 on Monday, hitting $127.59. The stock had a trading volume of 3,790 shares, compared to its average volume of 444,946. The company has a current ratio of 10.58, a quick ratio of 10.50 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $2.61 billion, a PE ratio of 20.58, a P/E/G ratio of 1.97 and a beta of 1.37. Ligand Pharmaceuticals Inc. has a 1 year low of $98.56 and a 1 year high of $278.62.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, February 7th. The biotechnology company reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.48. The firm had revenue of $59.59 million for the quarter, compared to the consensus estimate of $52.58 million. Ligand Pharmaceuticals had a return on equity of 26.00% and a net margin of 57.00%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 EPS. Research analysts predict that Ligand Pharmaceuticals Inc. will post 3.24 EPS for the current fiscal year.

LGND has been the topic of a number of recent research reports. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Zacks Investment Research lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. TheStreet lowered Ligand Pharmaceuticals from a “b-” rating to a “c+” rating in a research note on Wednesday, January 2nd. Argus restated a “buy” rating and issued a $150.00 target price (down previously from $200.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, February 13th. Finally, BidaskClub upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $212.29.

In other news, CEO John L. Higgins acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average price of $114.29 per share, for a total transaction of $285,725.00. Following the acquisition, the chief executive officer now owns 141,399 shares of the company’s stock, valued at $16,160,491.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.80% of the stock is currently owned by insiders.

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Ligand Pharmaceuticals Profile

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

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