Falcon Point Capital Lowers stake in Ligand Pharmaceuticals (LGND)

Ligand Pharmaceuticals (LGND) : Falcon Point Capital reduced its stake in Ligand Pharmaceuticals by 42.34% during the most recent quarter end. The investment management company now holds a total of 58,969 shares of Ligand Pharmaceuticals which is valued at $8,023,912 after selling 43,294 shares in Ligand Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Ligand Pharmaceuticals makes up approximately 1.35% of Falcon Point Capital’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc reduced its stake in LGND by selling 11,095 shares or 12.72% in the most recent quarter. The Hedge Fund company now holds 76,108 shares of LGND which is valued at $10,356,016. Ligand Pharmaceuticals makes up approx 0.01% of American Century Companies Inc’s portfolio.Pitcairn Co reduced its stake in LGND by selling 100 shares or 4.22% in the most recent quarter. The Hedge Fund company now holds 2,271 shares of LGND which is valued at $309,015. Ligand Pharmaceuticals makes up approx 0.04% of Pitcairn Co’s portfolio. Meeder Asset Management Inc added LGND to its portfolio by purchasing 1,499 company shares during the most recent quarter which is valued at $198,692. Ligand Pharmaceuticals makes up approx 0.02% of Meeder Asset Management Inc’s portfolio.Creative Planning boosted its stake in LGND in the latest quarter, The investment management firm added 209 additional shares and now holds a total of 10,199 shares of Ligand Pharmaceuticals which is valued at $1,274,059. Ligand Pharmaceuticals makes up approx 0.01% of Creative Planning’s portfolio.

Ligand Pharmaceuticals closed down -0.01 points or -0.01% at $134.88 with 5,13,815 shares getting traded on Friday. Post opening the session at $134.55, the shares hit an intraday low of $132.69 and an intraday high of $136.31 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 $0.97 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.

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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