Amalgamated Bank Reduces Stake in Ligand Pharmaceuticals by 7.3% in Q1
August 11, 2023
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Ligand Pharmaceuticals ($NASDAQ:LGND) Incorporated is a biopharmaceutical company based in San Diego, California. Its mission is to develop new therapies that will be effective in treating diseases with high unmet medical needs. The company focuses on developing and acquiring technologies that help identify and develop new drugs and therapeutics. Over the past year, Ligand Pharmaceuticals Incorporated has seen its stock price increase significantly following the success of some of its key drugs. This includes drugs such as Promacta, which is used to treat thrombocytopenia, and Kyprolis, which is used to treat multiple myeloma. Additionally, the company has also seen revenue growth due to its partnerships with other pharmaceutical companies such as Gilead Sciences and GlaxoSmithKline. The strong financial performance of Ligand Pharmaceuticals Incorporated appears to have been a factor behind Amalgamated Bank’s decision to reduce its ownership in the company. It remains to be seen if other institutional investors will follow Amalgamated Bank’s lead and reduce their own stakes in Ligand Pharmaceuticals Incorporated.
However, with the company continuing to develop new drugs and treatments that could potentially increase its revenue, it appears likely that investors will continue to remain bullish on the company’s stock.
Analysis
GoodWhale’s analysis of LIGAND PHARMACEUTICALS’ fundamentals shows that it has a high health score of 9/10 with regard to its cashflows and debt, meaning that it is capable to pay off debt and fund future operations. According to our Star Chart, LIGAND PHARMACEUTICALS has strong assets, medium growth, profitability and weak dividend. We classify this company as a ‘rhino’, which is a type of company that has achieved moderate revenue or earnings growth. This company may be attractive for value investors who are looking for companies with strong fundamentals and potential for growth and income. Investors with a higher-risk appetite may also find LIGAND PHARMACEUTICALS attractive as it offers potential for capital appreciation given its strong assets and moderate growth. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ligand Pharmaceuticals. More…
| Total Revenues | Net Income | Net Margin |
| 163.48 | 27.16 | 3.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ligand Pharmaceuticals. More…
| Operations | Investing | Financing |
| 119.79 | 163.62 | -275.99 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ligand Pharmaceuticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 758.11 | 93.21 | 38.49 |
Key Ratios Snapshot
Some of the financial key ratios for Ligand Pharmaceuticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.0% | -21.6% | 42.6% |
| FCF Margin | ROE | ROA |
| 63.8% | 6.6% | 5.7% |
Peers
The company’s products include drugs for the treatment of cancer, HIV/AIDS, and other diseases. Ligand Pharmaceuticals Inc has a market capitalization of $2.7 billion and its competitors include SciSparc Ltd, Acasti Pharma Inc, and Mindset Pharma Inc.
– SciSparc Ltd ($NASDAQ:SPRC)
SciSparc Ltd. is a biopharmaceutical company that engages in the development of novel cancer therapies. The company has a market cap of $3.74 million and a return on equity of -45.91%. SciSparc’s pipeline includes several small molecule drugs that are in various stages of development. The company is headquartered in London, United Kingdom.
– Acasti Pharma Inc ($TSXV:ACST)
Acasti Pharma is a pharmaceutical company that focuses on the development and commercialization of prescription drugs for the treatment of cardiovascular diseases. The company has a market cap of 31.67M as of 2022 and a Return on Equity of -9.95%. Acasti Pharma’s products are designed to target the multiple mechanisms involved in the development of atherosclerosis and to provide novel therapeutic options for the treatment of this disease.
– Mindset Pharma Inc ($OTCPK:MSSTF)
Mindset Pharma Inc is a biotechnology company that focuses on the development of novel treatments for psychiatric disorders. The company has a market cap of 29.51M as of 2022 and a Return on Equity of -642.13%. Mindset Pharma Inc is headquartered in Montreal, Canada.
Summary
Ligand Pharmaceuticals Incorporated is a company attracting the attention of investors in the pharmaceuticals industry. This indicates that investors may be hesitant to invest in Ligand as the overall market sentiment for the company has decreased. Investors should take this into consideration before investing in Ligand Pharmaceuticals and should conduct further research to determine if it is the right fit for their portfolio.
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