Summit Creek Advisors Lowers stake in Ligand Pharmaceuticals (LGND)

Ligand Pharmaceuticals (LGND) : Summit Creek Advisors reduced its stake in Ligand Pharmaceuticals by 6.28% during the most recent quarter end. The investment management company now holds a total of 118,272 shares of Ligand Pharmaceuticals which is valued at $15,676,954 after selling 7,925 shares in Ligand Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.Ligand Pharmaceuticals makes up approximately 2.55% of Summit Creek Advisors’s portfolio.

Other Hedge Funds, Including , Willingdon Wealth Management boosted its stake in LGND in the latest quarter, The investment management firm added 666 additional shares and now holds a total of 8,498 shares of Ligand Pharmaceuticals which is valued at $1,126,410. Ligand Pharmaceuticals makes up approx 0.56% of Willingdon Wealth Management’s portfolio.Simplex Trading boosted its stake in LGND in the latest quarter, The investment management firm added 3,193 additional shares and now holds a total of 3,441 shares of Ligand Pharmaceuticals which is valued at $464,948. Ligand Pharmaceuticals makes up approx 0.06% of Simplex Trading’s portfolio.Eqis Capital Management boosted its stake in LGND in the latest quarter, The investment management firm added 694 additional shares and now holds a total of 12,593 shares of Ligand Pharmaceuticals which is valued at $1,586,718. Ligand Pharmaceuticals makes up approx 0.10% of Eqis Capital Management’s portfolio.Fisher Asset Management boosted its stake in LGND in the latest quarter, The investment management firm added 1,807 additional shares and now holds a total of 72,390 shares of Ligand Pharmaceuticals which is valued at $9,042,959. Ligand Pharmaceuticals makes up approx 0.02% of Fisher Asset Management’s portfolio.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.

Ligand Pharmaceuticals opened for trading at $129.19 and hit $135.99 on the upside on Wednesday, eventually ending the session at $135.12, with a gain of 5.52% or 7.07 points. The heightened volatility saw the trading volume jump to 9,99,739 shares. Company has a market cap of $2,814 M.

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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