Rs Investment Management Co Lowers stake in Ligand Pharmaceuticals (LGND)

Ligand Pharmaceuticals (LGND) : Rs Investment Management Co reduced its stake in Ligand Pharmaceuticals by 9.62% during the most recent quarter end. The investment management company now holds a total of 824,750 shares of Ligand Pharmaceuticals which is valued at $112,223,733 after selling 87,795 shares in Ligand Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Ligand Pharmaceuticals makes up approximately 1.10% of Rs Investment Management Co’s portfolio.

Other Hedge Funds, Including , Smith Asset Management Group Lp reduced its stake in LGND by selling 110 shares or 3.12% in the most recent quarter. The Hedge Fund company now holds 3,420 shares of LGND which is valued at $465,359. Ligand Pharmaceuticals makes up approx 0.01% of Smith Asset Management Group Lp’s portfolio. Joel Isaacson sold out all of its stake in LGND during the most recent quarter. The investment firm sold 1 shares of LGND which is valued $133.Cutler Group Lp reduced its stake in LGND by selling 494 shares or 67.58% in the most recent quarter. The Hedge Fund company now holds 237 shares of LGND which is valued at $29,606.Quotient Investors reduced its stake in LGND by selling 400 shares or 12.5% in the most recent quarter. The Hedge Fund company now holds 2,800 shares of LGND which is valued at $349,776. Ligand Pharmaceuticals makes up approx 0.16% of Quotient Investors’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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