Harvest Investment Services LLC acquired a new position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,365 shares of the biotechnology company’s stock, valued at approximately $665,000.
A number of other large investors have also modified their holdings of the stock. Exane Derivatives bought a new stake in Ligand Pharmaceuticals during the fourth quarter valued at about $36,000. Pearl River Capital LLC bought a new stake in Ligand Pharmaceuticals during the fourth quarter valued at about $41,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Ligand Pharmaceuticals during the fourth quarter valued at about $68,000. Quantamental Technologies LLC acquired a new position in shares of Ligand Pharmaceuticals during the fourth quarter valued at about $68,000. Finally, First Hawaiian Bank raised its position in shares of Ligand Pharmaceuticals by 22.7% during the fourth quarter. First Hawaiian Bank now owns 584 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 108 shares during the last quarter.
In related news, CEO John L. Higgins purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average cost of $114.29 per share, with a total value of $285,725.00. Following the completion of the purchase, the chief executive officer now directly owns 141,399 shares of the company’s stock, valued at $16,160,491.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.80% of the stock is owned by corporate insiders.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.28. The company had revenue of $43.48 million during the quarter, compared to analyst estimates of $38.28 million. Ligand Pharmaceuticals had a net margin of 320.12% and a return on equity of 19.21%. The company’s revenue was down 22.6% on a year-over-year basis. During the same quarter last year, the business posted $1.55 earnings per share. Equities analysts predict that Ligand Pharmaceuticals Inc. will post 3.24 earnings per share for the current year.
A number of brokerages have recently commented on LGND. ValuEngine raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. HC Wainwright reaffirmed a “buy” rating and set a $214.00 price objective (down previously from $254.00) on shares of Ligand Pharmaceuticals in a research report on Friday, May 3rd. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “strong sell” rating in a research report on Tuesday, March 19th. BidaskClub raised shares of Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. Finally, Argus reissued a “buy” rating and issued a $150.00 price target (down previously from $200.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $206.57.
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Ligand Pharmaceuticals Company 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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