Today: Parsons Capital Management Inc. RI decides to keep it stake in Ligand Pharmaceuticals Inc. (LGND) to the level of $502,000

Today: Parsons Capital Management Inc. RI decides to keep it stake in Ligand Pharmaceuticals Inc. (LGND) to the level of $502,000

Parsons Capital Management Inc. RI increased its stake in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 166.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,917 shares of the biotechnology company’s stock after buying an additional 3,072 shares during the period. Parsons Capital Management Inc. RI’s holdings in Ligand Pharmaceuticals were worth $502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LGND. Icon Advisers Inc. Co. raised its position in Ligand Pharmaceuticals by 265.1% in the third quarter. Icon Advisers Inc. Co. now owns 7,575 shares of the biotechnology company’s stock valued at $773,000 after buying an additional 5,500 shares in the last quarter. US Bancorp DE raised its stake in shares of Ligand Pharmaceuticals by 100.2% in the third quarter. US Bancorp DE now owns 2,819 shares of the biotechnology company’s stock valued at $287,000 after buying an additional 1,411 shares during the period. Granite Investment Partners LLC raised its stake in shares of Ligand Pharmaceuticals by 18.5% in the third quarter. Granite Investment Partners LLC now owns 84,627 shares of the biotechnology company’s stock valued at $8,637,000 after buying an additional 13,204 shares during the period. Redwood Investments LLC raised its stake in shares of Ligand Pharmaceuticals by 115.3% in the third quarter. Redwood Investments LLC now owns 63,399 shares of the biotechnology company’s stock valued at $6,471,000 after buying an additional 33,955 shares during the period. Finally, Van Hulzen Asset Management LLC bought a new stake in shares of Ligand Pharmaceuticals during the third quarter valued at about $113,000.

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) traded down 1.78% during trading on Monday, reaching $104.87. The company’s stock had a trading volume of 116,311 shares. Ligand Pharmaceuticals Inc. has a 1-year low of $82.06 and a 1-year high of $139.79. The company has a market capitalization of $2.19 billion, a P/E ratio of 300.49 and a beta of 1.43. The company’s 50-day moving average is $98.82 and its 200-day moving average is $112.37.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, November 3rd. The biotechnology company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $21.62 million for the quarter, compared to analyst estimates of $23.64 million. Ligand Pharmaceuticals had a return on equity of 9.98% and a net margin of 8.51%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. Equities analysts anticipate that Ligand Pharmaceuticals Inc. will post $3.40 EPS for the current year.

Several analysts recently issued reports on the stock. CJS Securities reduced their price objective on shares of Ligand Pharmaceuticals from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, September 28th. Roth Capital set a $154.00 price objective on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Monday, November 21st. TheStreet lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, October 7th. Craig Hallum boosted their price objective on shares of Ligand Pharmaceuticals from $150.00 to $160.00 in a report on Wednesday, October 5th. Finally, Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, November 9th. Three 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’s stock. Ligand Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $139.70.

In related news, Director Jason Aryeh sold 18,479 shares of the stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $107.31, for a total transaction of $1,982,981.49. Following the transaction, the director now directly owns 58,959 shares in the company, valued at $6,326,890.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John L. Higgins sold 3,000 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $117.34, for a total value of $352,020.00. Following the transaction, the chief executive officer now owns 122,664 shares in the company, valued at $14,393,393.76. 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.

Related posts

Leave a Comment