Timpani Capital Management Lowers stake in Ligand Pharmaceuticals (LGND)

Ligand Pharmaceuticals (LGND) : Timpani Capital Management reduced its stake in Ligand Pharmaceuticals by 1.14% during the most recent quarter end. The investment management company now holds a total of 67,383 shares of Ligand Pharmaceuticals which is valued at $7.9 Million after selling 777 shares in Ligand Pharmaceuticals , the firm said in a disclosure report filed with the SEC on May 13, 2016.Ligand Pharmaceuticals makes up approximately 3.40% of Timpani Capital Management’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in LGND in the latest quarter, The investment management firm added 2,653 additional shares and now holds a total of 131,624 shares of Ligand Pharmaceuticals which is valued at $15.5 Million. Ligand Pharmaceuticals makes up approx 0.01% of Geode Capital Management’s portfolio.Neuberger Berman Group boosted its stake in LGND in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 10,500 shares of Ligand Pharmaceuticals which is valued at $1.3 Million.New Jersey Better Educational Savings Trust boosted its stake in LGND in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 7,000 shares of Ligand Pharmaceuticals which is valued at $846,090. Ligand Pharmaceuticals makes up approx 0.58% of New Jersey Better Educational Savings Trust’s portfolio.

Ligand Pharmaceuticals opened for trading at $121.29 and hit $124.07 on the upside on Wednesday, eventually ending the session at $122.56, with a gain of 1.50% or 1.81 points. The heightened volatility saw the trading volume jump to 3,73,600 shares. Company has a market cap of $2,552 M.

On the company’s financial health, Ligand Pharmaceuticals reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.65. The company had revenue of $29.60 million for the quarter, compared to analysts expectations of $26.58 million. The company’s revenue was up 102.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Ligand Pharmaceuticals. Ligand Pharmaceuticals was Initiated by Sidoti to “Buy” on Mar 11, 2016. H.C. Wainwright Initiated Ligand Pharmaceuticals on Mar 3, 2016 to “Buy”, Price Target of the shares are set at $146.

Ligand Pharmaceuticals Incorporated (Ligand) is a biotechnology company that operates with a business model focused on developing or acquiring revenue generating assets and coupling them with a lean corporate cost structure. The Company’s technology CAPTISOL is a formulation technology that has enabled seven United States Food and Drug Administration (FDA) approved products including Kyprolis and Noxafil-IV and is being developed in several clinical-stage partner programs. The Company is engaged in the development of product candidates indicated for the treatment of diseases such as hepatitis multiple myeloma muscle wasting Alzheimer’s disease dyslipidemia diabetes anemia epilepsy focal segmental glomerulosclerosis (FSGS) and osteoporosis.

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