Colony Group LLC Acquires 1,124 Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND)

Colony Group LLC lifted its position in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,410 shares of the biotechnology company’s stock after purchasing an additional 1,124 shares during the quarter. Colony Group LLC owned 0.06% of Ligand Pharmaceuticals worth $1,820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its position in Ligand Pharmaceuticals by 2.5% during the 3rd quarter. BlackRock Inc. now owns 3,346,406 shares of the biotechnology company’s stock worth $918,554,000 after buying an additional 81,432 shares in the last quarter. Vanguard Group Inc. lifted its position in Ligand Pharmaceuticals by 3.3% during the 3rd 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. Vanguard Group Inc lifted its position in Ligand Pharmaceuticals by 3.3% during the 3rd 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. Renaissance Technologies LLC lifted its position in Ligand Pharmaceuticals by 44.1% during the 3rd quarter. Renaissance Technologies LLC now owns 754,219 shares of the biotechnology company’s stock worth $207,026,000 after buying an additional 230,725 shares in the last quarter. Finally, FMR LLC lifted its position in Ligand Pharmaceuticals by 21.8% during the 3rd quarter. FMR LLC now owns 536,632 shares of the biotechnology company’s stock worth $147,300,000 after buying an additional 96,048 shares in the last quarter.

LGND traded down $2.05 on Monday, reaching $125.79. The company had a trading volume of 288,389 shares, compared to its average volume of 685,815. Ligand Pharmaceuticals Inc. has a fifty-two week low of $98.56 and a fifty-two week high of $278.62. The firm has a market cap of $2.61 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.37. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.50 and a current ratio of 10.58.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Thursday, February 7th. The biotechnology company reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.48. Ligand Pharmaceuticals had a net margin of 57.00% and a return on equity of 26.00%. The business had revenue of $59.59 million for the quarter, compared to analyst estimates of $52.58 million. During the same quarter in the prior year, the business earned $1.31 EPS. Ligand Pharmaceuticals’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, equities analysts forecast that Ligand Pharmaceuticals Inc. will post 3.24 earnings per share for the current year.

Several equities research analysts have commented on LGND shares. ValuEngine cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. BidaskClub raised shares of Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. HC Wainwright restated a “buy” rating and set a $254.00 price objective on shares of Ligand Pharmaceuticals in a research note on Wednesday, March 13th. Roth Capital lowered their price objective on shares of Ligand Pharmaceuticals from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Finally, Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “strong sell” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Ligand Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $212.29.

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

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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; 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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