Nichols Asset Management Lowers stake in Ligand Pharmaceuticals (LGND)

Ligand Pharmaceuticals (LGND) : Nichols Asset Management reduced its stake in Ligand Pharmaceuticals by 0.81% during the most recent quarter end. The investment management company now holds a total of 92,411 shares of Ligand Pharmaceuticals which is valued at $12,030,988 after selling 759 shares in Ligand Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Ligand Pharmaceuticals makes up approximately 2.59% of Nichols Asset Management’s portfolio.

Ligand Pharmaceuticals closed down -2.09 points or -1.66% at $123.97 with 5,96,900 shares getting traded on Wednesday. Post opening the session at $125.67, the shares hit an intraday low of $122.64 and an intraday high of $125.67 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Advisory Services Network added LGND to its portfolio by purchasing 112 company shares during the most recent quarter which is valued at $14,581.Summit Creek Advisors boosted its stake in LGND in the latest quarter, The investment management firm added 46,162 additional shares and now holds a total of 126,197 shares of Ligand Pharmaceuticals which is valued at $16,429,587. Ligand Pharmaceuticals makes up approx 2.54% of Summit Creek Advisors’s portfolio.Ami Asset Management Corp boosted its stake in LGND in the latest quarter, The investment management firm added 18,906 additional shares and now holds a total of 178,974 shares of Ligand Pharmaceuticals which is valued at $23,300,625. Ligand Pharmaceuticals makes up approx 1.56% of Ami Asset Management Corp’s portfolio.Central Trust Co boosted its stake in LGND in the latest quarter, The investment management firm added 40 additional shares and now holds a total of 505 shares of Ligand Pharmaceuticals which is valued at $62,918.Eagle Asset Management Inc boosted its stake in LGND in the latest quarter, The investment management firm added 1,376 additional shares and now holds a total of 160,677 shares of Ligand Pharmaceuticals which is valued at $18,511,597. Ligand Pharmaceuticals makes up approx 0.13% of Eagle Asset Management Inc’s portfolio.

On the company’s financial health, Ligand Pharmaceuticals reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 10, 2016. Analyst had a consensus of $0.64. The company had revenue of $21.20 million for the quarter, compared to analysts expectations of $24.71 million. The company’s revenue was down -7.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.60 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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