Quantamental Technologies LLC acquired a new position in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 446 shares of the biotechnology company’s stock, valued at approximately $51,000.

Several other hedge funds have also recently added to or reduced their stakes in LGND. Janus Henderson Group PLC increased its holdings in shares of Ligand Pharmaceuticals by 11.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,542,670 shares of the biotechnology company’s stock worth $176,096,000 after buying an additional 157,604 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Ligand Pharmaceuticals by 37.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 557,512 shares of the biotechnology company’s stock worth $70,085,000 after buying an additional 152,649 shares during the last quarter. Elk Creek Partners LLC increased its holdings in shares of Ligand Pharmaceuticals by 128.1% during the 1st quarter. Elk Creek Partners LLC now owns 209,823 shares of the biotechnology company’s stock worth $26,377,000 after buying an additional 117,839 shares during the last quarter. Marshall Wace North America L.P. increased its holdings in shares of Ligand Pharmaceuticals by 520.3% during the 1st quarter. Marshall Wace North America L.P. now owns 71,055 shares of the biotechnology company’s stock worth $8,932,000 after buying an additional 59,600 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Ligand Pharmaceuticals by 278.4% during the 2nd quarter. Acadian Asset Management LLC now owns 78,591 shares of the biotechnology company’s stock worth $8,971,000 after buying an additional 57,821 shares during the last quarter.

NASDAQ:LGND traded up $3.92 on Friday, reaching $101.47. The stock had a trading volume of 22,942 shares, compared to its average volume of 330,722. The company has a current ratio of 13.23, a quick ratio of 13.15 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $94.26 and a 200 day moving average of $112.17. The stock has a market cap of $1.71 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.98 and a beta of 1.30. Ligand Pharmaceuticals Inc. has a 12-month low of $84.45 and a 12-month high of $278.62.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.30. The company had revenue of $24.99 million during the quarter, compared to analysts’ expectations of $21.01 million. Ligand Pharmaceuticals had a net margin of 389.58% and a return on equity of 11.24%. The firm’s revenue for the quarter was down 72.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.59 EPS. On average, equities analysts predict that Ligand Pharmaceuticals Inc. will post 2.28 EPS for the current year.

In other news, Director Jason Aryeh acquired 4,004 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was bought at an average cost of $99.22 per share, with a total value of $397,276.88. Following the transaction, the director now directly owns 61,953 shares in the company, valued at approximately $6,146,976.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sunil Patel acquired 1,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $95.98 per share, with a total value of $95,980.00. Following the completion of the transaction, the director now owns 26,359 shares in the company, valued at $2,529,936.82. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 8,600 shares of company stock valued at $828,747. 8.40% of the stock is currently owned by corporate insiders.

A number of analysts have recently commented on the company. Argus set a $140.00 price objective on Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, June 10th. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. Barclays lowered their price target on Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. ValuEngine downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, BidaskClub upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $147.80.

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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