Catalyst Capital Advisors Lowers stake in Ligand Pharmaceuticals (LGND)

Ligand Pharmaceuticals (LGND) : Catalyst Capital Advisors reduced its stake in Ligand Pharmaceuticals by 10.45% during the most recent quarter end. The investment management company now holds a total of 60,000 shares of Ligand Pharmaceuticals which is valued at $6,836,400 after selling 7,000 shares in Ligand Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Ligand Pharmaceuticals makes up approximately 1.23% of Catalyst Capital Advisors’s portfolio.

Other Hedge Funds, Including , Castleark Management reduced its stake in LGND by selling 41,151 shares or 19.27% in the most recent quarter. The Hedge Fund company now holds 172,400 shares of LGND which is valued at $19,643,256. Ligand Pharmaceuticals makes up approx 0.60% of Castleark Management’s portfolio.Victory Capital Management Inc boosted its stake in LGND in the latest quarter, The investment management firm added 241 additional shares and now holds a total of 556 shares of Ligand Pharmaceuticals which is valued at $63,779.First Trust Advisors Lp reduced its stake in LGND by selling 3,245 shares or 16.14% in the most recent quarter. The Hedge Fund company now holds 16,865 shares of LGND which is valued at $2,079,455. Ligand Pharmaceuticals makes up approx 0.01% of First Trust Advisors Lp’s portfolio. Stanley-laman Group Ltd. sold out all of its stake in LGND during the most recent quarter. The investment firm sold 3,000 shares of LGND which is valued $369,900. Ipswich Investment Management sold out all of its stake in LGND during the most recent quarter. The investment firm sold 500 shares of LGND which is valued $66,570.

Ligand Pharmaceuticals closed down -1.11 points or -1.03% at $106.48 with 3,74,073 shares getting traded on Friday. Post opening the session at $107.08, the shares hit an intraday low of $106.08 and an intraday high of $107.45 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Ligand Pharmaceuticals reported $0.50 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.53. The company had revenue of $19.50 million for the quarter, compared to analysts expectations of $18.45 million. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 EPS.

Many Wall Street Analysts have commented on Ligand Pharmaceuticals. Company shares were Downgraded by Deutsche Bank on Aug 5, 2016 to ” Sell”, Firm has raised the Price Target to $ 110 from a previous price target of $104 .

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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