Today, Nordea Investment Management AB Increases Position in Ligand Pharmaceuticals Inc. (LGND)

Today, Nordea Investment Management AB Increases Position in Ligand Pharmaceuticals Inc. (LGND)

Nordea Investment Management AB raised its position in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 105.2% during the third quarter, Holdings Channel reports. The firm owned 10,552 shares of the biotechnology company’s stock after buying an additional 5,410 shares during the period. Nordea Investment Management AB owned approximately 0.05% of Ligand Pharmaceuticals worth $1,077,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Willingdon Wealth Management raised its stake in shares of Ligand Pharmaceuticals by 51.8% in the third quarter. Willingdon Wealth Management now owns 12,896 shares of the biotechnology company’s stock worth $1,316,000 after buying an additional 4,398 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Ligand Pharmaceuticals during the third quarter worth $467,000. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Ligand Pharmaceuticals during the third quarter worth $6,926,000. Tocqueville Asset Management L.P. raised its stake in shares of Ligand Pharmaceuticals by 5.9% in the third quarter. Tocqueville Asset Management L.P. now owns 14,430 shares of the biotechnology company’s stock worth $1,473,000 after buying an additional 805 shares during the period. Finally, Isthmus Partners LLC raised its stake in shares of Ligand Pharmaceuticals by 0.9% in the third quarter. Isthmus Partners LLC now owns 6,807 shares of the biotechnology company’s stock worth $651,000 after buying an additional 61 shares during the period.

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) traded down 0.06% during trading on Friday, hitting $106.77. The stock had a trading volume of 144,372 shares. The firm has a market capitalization of $2.23 billion, a P/E ratio of 305.93 and a beta of 1.43. Ligand Pharmaceuticals Inc. has a one year low of $82.06 and a one year high of $139.79. The stock has a 50 day moving average of $98.82 and a 200 day moving average of $112.37.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, November 3rd. The biotechnology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. Ligand Pharmaceuticals had a return on equity of 9.98% and a net margin of 8.51%. The business earned $21.62 million during the quarter, compared to the consensus estimate of $23.64 million. During the same period in the prior year, the company earned $0.57 EPS. Ligand Pharmaceuticals’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts expect that Ligand Pharmaceuticals Inc. will post $3.40 earnings per share for the current fiscal year.

A number of brokerages recently commented on LGND. Roth Capital set a $154.00 price objective on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, November 21st. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, November 9th. TheStreet lowered Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. CJS Securities lowered their price objective on Ligand Pharmaceuticals from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, September 28th. Finally, Craig Hallum lifted their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 in a research report on Wednesday, October 5th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $139.70.

In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the completion of the transaction, the director now owns 39,983 shares of the company’s stock, valued at approximately $4,598,045. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John W. Kozarich sold 1,666 shares of the company’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $105.40, for a total value of $175,596.40. Following the completion of the transaction, the director now directly owns 40,783 shares of the company’s stock, valued at approximately $4,298,528.20. The disclosure for this sale can be found here. Corporate insiders own 14.70% of the company’s stock.

About Ligand Pharmaceuticals

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 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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