Rk Capital Management Llc increased its stake in Ligand Pharmaceuticals Inc (LGND) by 47.49% based on its latest 2016Q3 regulatory filing with the SEC. Rk Capital Management Llc bought 58,400 shares as the company’s stock declined 16.43% while stock markets rallied. The hedge fund held 181,383 shares of the major pharmaceuticals company at the end of 2016Q3, valued at $18.51M, up from 122,983 at the end of the previous reported quarter. Rk Capital Management Llc who had been investing in Ligand Pharmaceuticals Inc for a number of months, seems to be bullish on the $2.24B market cap company. The stock is down 3.56% or $3.89 hitting $105.48, despite the positive news. About 153,160 shares traded hands. Ligand Pharmaceuticals Inc. (NASDAQ:LGND) has declined 5.12% since June 7, 2016 and is downtrending. It has underperformed by 12.54% the S&P500.
Rk Capital Management Llc, which manages about $857.26M and $515.01M US Long portfolio, decreased its stake in Callidus Software Inc (NASDAQ:CALD) by 228,100 shares to 71,811 shares, valued at $1.32 million in 2016Q3, according to the filing. It also reduced its holding in Biospecifics Technologies Co (NASDAQ:BSTC) by 85,560 shares in the quarter, leaving it with 148,599 shares, and cut its stake in Natus Medical Inc Del (NASDAQ:BABY).
Rk Capital Management Llc is a Colorado-based hedge fund with more than $857.26 million AUM in December, 2014. Taken from Rk Capital Management latest Adv, the fund reported to have 11 full and part-time employees. Among which 6 performing investment advisory and research functions. The hedge fund had between 1-10 clients.
Insitutional Activity: The institutional sentiment decreased to 1.08 in Q3 2016. Its down 0.18, from 1.26 in 2016Q2. The ratio fall, as 33 funds sold all LGND shares owned while 85 reduced positions. 35 funds bought stakes while 93 increased positions. They now own 23.00 million shares or 1.66% more from 22.63 million shares in 2016Q2. Da Davidson reported 1,722 shares or 0% of all its holdings. Moreover, Goldman Sachs Gru Inc has 0.01% invested in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) for 220,306 shares. Glenmede Trust Na has invested 0% of its portfolio in Ligand Pharmaceuticals Inc. (NASDAQ:LGND). Geneva Advsr Limited Co holds 0.03% of its portfolio in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) for 14,099 shares. Cardinal Cap Management Limited Liability Corp Ct holds 3.19% or 673,850 shares in its portfolio. Rk Cap Management Lc last reported 181,383 shares in the company. Raymond James And Assocs has invested 0% of its portfolio in Ligand Pharmaceuticals Inc. (NASDAQ:LGND). Knott David M has 998,100 shares for 52.58% of their US portfolio. Columbia Prtn L L C Mgmt last reported 0.55% of its portfolio in the stock. Nationwide Fund Advisors holds 73,926 shares or 0.03% of its portfolio. Moreover, Manufacturers Life Ins The has 0% invested in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) for 12,933 shares. Principal Financial Group Incorporated accumulated 0.02% or 143,846 shares. Alps Advsr Inc last reported 0.02% of its portfolio in the stock. Gemmer Asset Limited Co accumulated 0% or 51 shares. The California-based California Pub Employees Retirement has invested 0.01% in Ligand Pharmaceuticals Inc. (NASDAQ:LGND).
Insider Transactions: Since August 1, 2016, the stock had 0 insider purchases, and 7 selling transactions for $7.56 million net activity. On Friday, August 5 the insider FOEHR MATTHEW W sold $1.53M. 1,666 shares were sold by KOZARICH JOHN W, worth $175,597 on Thursday, September 1. 22,067 shares with value of $2.72 million were sold by Berkman Charles S on Friday, August 5. HIGGINS JOHN L sold $352,020 worth of stock. Aryeh Jason had sold 18,479 shares worth $1.98M.
More notable recent Ligand Pharmaceuticals Inc. (NASDAQ:LGND) news were published by: Globenewswire.com which released: “Deadline in Lawsuit for Investors in shares of Ligand Pharmaceuticals Inc …” on January 11, 2017, also Fool.com with their article: “Here’s Why Ligand Pharmaceuticals Inc Is Plunging Today” published on September 27, 2016, Fool.com published: “Licensing Agreements Drive Ligand Pharmaceuticals Inc. 13% Higher in July” on August 08, 2016. More interesting news about Ligand Pharmaceuticals Inc. (NASDAQ:LGND) were released by: Businesswire.com and their article: “Bragar Eagel & Squire, P.C. Reminds Investors of a Class Action Lawsuit …” published on January 04, 2017 as well as Globenewswire.com‘s news article titled: “Lawsuit for Investors in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) over …” with publication date: November 29, 2016.
According to Zacks Investment Research, “Ligand Pharmaceuticals Incorporated discovers, develops and markets new drugs that address critical unmet medical needs of patients in the areas of cancer, pain, skin diseases, men’s and women’s hormone-related diseases, osteoporosis, metabolic disorders, and cardiovascular and inflammatory diseases. Ligand’s proprietary drug discovery and development programs are based on its leadership position in gene transcription technology, primarily related to intracellular receptors.”
Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Ratings Coverage
Out of 5 analysts covering Ligand Pharmaceuticals (NASDAQ:LGND), 4 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 80% are positive. Ligand Pharmaceuticals has been the topic of 12 analyst reports since September 3, 2015 according to StockzIntelligence Inc. The stock of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) earned “Buy” rating by Roth Capital on Friday, December 18. Roth Capital maintained it with “Buy” rating and $140 target price in Wednesday, September 30 report. TH Capital maintained the shares of LGND in a report on Wednesday, September 30 with “Buy” rating. The firm earned “Buy” rating on Monday, September 21 by Roth Capital. The firm has “Buy” rating by Roth Capital given on Thursday, November 19. On Wednesday, October 5 the stock rating was maintained by H.C. Wainwright with “Buy”. Roth Capital maintained the shares of LGND in a report on Thursday, September 3 with “Buy” rating. Roth Capital maintained Ligand Pharmaceuticals Inc. (NASDAQ:LGND) on Friday, March 11 with “Buy” rating. The firm has “Overweight” rating given on Wednesday, April 13 by Stephens. The firm has “Buy” rating given on Friday, December 18 by TH Capital.
LGND Company Profile
Ligand Pharmaceuticals Incorporated (Ligand), incorporated on September 28, 1987, is a biopharmaceutical firm that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Firm employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals. It has have partnerships and license agreements with over 85 pharmaceutical and biotechnology companies, and over 140 different programs under license with it are in various stages of commercialization and development. It has contributed research and technologies for approved medicines that treat cancer, osteoporosis, fungal infections and low blood platelets, among others. The Company’s partners have programs in clinical development targeting seizure, coma, cancer, diabetes, cardiovascular disease, muscle wasting, liver disease and kidney disease, among others. The Firm is developing a small molecule glucagon receptor antagonist for the treatment of Type II diabetes mellitus.
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