Oberweis Asset Management Inc. Buys 7,642 Shares of Ligand Pharmaceuticals Inc. (LGND)

Oberweis Asset Management Inc. increased its stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 21.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,229 shares of the biotechnology company’s stock after buying an additional 7,642 shares during the quarter. Ligand Pharmaceuticals accounts for 1.3% of Oberweis Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. Oberweis Asset Management Inc. owned 0.20% of Ligand Pharmaceuticals worth $5,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Ligand Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc. now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after purchasing an additional 66,789 shares during the last quarter. Fisher Asset Management LLC boosted its position in Ligand Pharmaceuticals by 55.1% in the fourth quarter. Fisher Asset Management LLC now owns 66,105 shares of the biotechnology company’s stock worth $8,970,000 after purchasing an additional 23,486 shares during the last quarter. Woodstock Corp boosted its position in Ligand Pharmaceuticals by 4.6% in the fourth quarter. Woodstock Corp now owns 69,759 shares of the biotechnology company’s stock worth $9,466,000 after purchasing an additional 3,051 shares during the last quarter. Tygh Capital Management Inc. boosted its position in Ligand Pharmaceuticals by 108.0% in the fourth quarter. Tygh Capital Management Inc. now owns 80,183 shares of the biotechnology company’s stock worth $10,881,000 after purchasing an additional 41,626 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new position in Ligand Pharmaceuticals in the fourth quarter worth $1,336,000.

LGND has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $254.00 price target on shares of Ligand Pharmaceuticals in a research report on Wednesday. Roth Capital dropped their price target on Ligand Pharmaceuticals from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Argus reaffirmed a “buy” rating and set a $150.00 price target (down previously from $200.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, February 13th. Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research report on Wednesday, January 23rd. Finally, TheStreet cut Ligand Pharmaceuticals from a “b-” rating to a “c+” rating in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $210.57.

LGND traded up $0.73 during trading on Friday, reaching $118.93. 6,804 shares of the company were exchanged, compared to its average volume of 796,646. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 0.18 and a beta of 1.37. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.50 and a current ratio of 10.58. Ligand Pharmaceuticals Inc. has a 12-month low of $98.56 and a 12-month high of $278.62.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, February 7th. The biotechnology company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.48. The business had revenue of $59.59 million for the quarter, compared to analyst estimates of $52.58 million. Ligand Pharmaceuticals had a return on equity of 26.00% and a net margin of 57.00%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 EPS. On average, research analysts forecast that Ligand Pharmaceuticals Inc. will post 32.16 earnings per share for the current fiscal year.

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Ligand Pharmaceuticals Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; Aziyo portfolio of commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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