|Ligand's Insider Buys Continue|
|Wednesday, 02 November 2011 06:19|
Shares were trading at approximately $12 per share at the time of that report and rose to a 52 Week-High of $16.24. Shares are currently trading at -6.53 % from that high point at around $15 per hare. Insider buying in the stock continued to come in at a steady pace during the entire month of October, even as the stock dipped slightly.
Ligand announced recently that it will host a panel discussion in San Francisco, on Monday, November 7, 2011 to review and discuss the Promacta Phase III ENABLE 1 study results.
New SEC filings show that just days ago, BVF Partners LP picked up more shares ($83,751 worth) at an average price of $13.91 per share. Insider filings show that the firm has aggressively increased the number of shares they own from 362K to over 1.7M during the last month.
Biotechnology Value Fund Partners LP (BVF Partners LP) is a private investment partnership founded in 1993 by President and Portfolio Manager Mark Lampert. Lampert was once Vice President at Oppenheimer & Co. where he created various biotechnology investment vehicles. Mr. Lampert also founded Biotechnology Royalty Corp, which pooled university patent royalties, prior to joining Oppenheimer. The firm manages the Biotechnology Value Fund which pursues activist investment strategies in biotechnology equities.
We reported in October that this same fund had increased their shares in Neurocrine Biosciences (Nasdaq: NBIX). Neurocrine shares surged over 16% on Tuesday and closed at $7.28.
The La Jolla, California based Ligand Pharmaceuticals is operating with a business model that is assembling a large and diverse portfolio of current and near-term commercial revenue generating assets to assist the long-term financial growth of the company.
Ligand has collaborations with GlaxoSmithKline (NYSE:GSK), Merck (NYSE: MRK), The Medicines Company (Nasdaq:MDCO), Pfizer (NYSE:PFE), Bristol-Myers Squibb Company (NYSE:BMY), King Pharmaceuticals Inc, Cephalon Inc, and others. Their partnered and unpartnered pipelines can be seen at: http://www.ligand.com/pipeline. Ligand has also announced two new licensing agreements during the past month.