Eqis Capital Management buys $1,276,533 stake in Ligand Pharmaceuticals (LGND)

Ligand Pharmaceuticals (LGND) : Eqis Capital Management scooped up 11 additional shares in Ligand Pharmaceuticals during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 4, 2016. The investment management firm now holds a total of 12,604 shares of Ligand Pharmaceuticals which is valued at $1,276,533.Ligand Pharmaceuticals makes up approximately 0.08% of Eqis Capital Management’s portfolio.

Ligand Pharmaceuticals closed down -1.24 points or -1.22% at $100.57 with 2,33,016 shares getting traded on Tuesday. Post opening the session at $102, the shares hit an intraday low of $100.33 and an intraday high of $102.96 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 Reiterated by H.C. Wainwright on Oct 5, 2016 to “Buy”, Firm has raised the Price Target to $ 160 from a previous price target of $146 .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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