Kopp Investment Advisors Lowers stake in Ligand Pharmaceuticals (LGND)

Ligand Pharmaceuticals (LGND) : Kopp Investment Advisors reduced its stake in Ligand Pharmaceuticals by 2.3% during the most recent quarter end. The investment management company now holds a total of 30,417 shares of Ligand Pharmaceuticals which is valued at $3,465,713 after selling 717 shares in Ligand Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ligand Pharmaceuticals makes up approximately 1.57% of Kopp Investment Advisors’s portfolio.

Other Hedge Funds, Including , Tudor Investment Corp Et Al boosted its stake in LGND in the latest quarter, The investment management firm added 1,432 additional shares and now holds a total of 3,900 shares of Ligand Pharmaceuticals which is valued at $444,366. Ligand Pharmaceuticals makes up approx 0.02% of Tudor Investment Corp Et Al’s portfolio.Miles Capital boosted its stake in LGND in the latest quarter, The investment management firm added 145 additional shares and now holds a total of 2,494 shares of Ligand Pharmaceuticals which is valued at $284,166. Ligand Pharmaceuticals makes up approx 0.19% of Miles Capital’s portfolio.Columbia Partners L L C Investment Management reduced its stake in LGND by selling 82 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 44,756 shares of LGND which is valued at $5,099,499. Ligand Pharmaceuticals makes up approx 0.36% of Columbia Partners L L C Investment Management’s portfolio.Dimensional Fund Advisors Lp reduced its stake in LGND by selling 78,876 shares or 21.52% in the most recent quarter. The Hedge Fund company now holds 287,592 shares of LGND which is valued at $33,779,118. Ligand Pharmaceuticals makes up approx 0.02% of Dimensional Fund Advisors Lp’s portfolio. Intrust Bank Na added LGND to its portfolio by purchasing 2,327 company shares during the most recent quarter which is valued at $309,817. Ligand Pharmaceuticals makes up approx 0.12% of Intrust Bank Na’s portfolio.

Ligand Pharmaceuticals opened for trading at $110.04 and hit $116.9 on the upside on Wednesday, eventually ending the session at $114.26, with a gain of 5.76% or 6.22 points. The heightened volatility saw the trading volume jump to 674,692 shares. Company has a market cap of $2,383 M.

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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