David M. Knott‘s Dorset Managment, recently filed an amended 13D, with the US SEC, reporting David Knott’s resignation from the board of the directors of Ligand Pharmaceuticals Inc (NASDAQ:LGND), for reasons that are unconnected to the company. Dorset Management owns 1.30 million shares of Ligand Pharmaceuticals (NASDAQ:LGND), which amass 6.2% of the company’s outstanding stock. In its last 13F filing (for the end of March), Dorset Management reported a slightly lower stake of 1.28 million shares.
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Follow Ligand Pharmaceuticals Inc (NASDAQ:LGND)
Follow Ligand Pharmaceuticals Inc (NASDAQ:LGND)
Ligand Pharmaceuticals (NASDAQ:LGND) is a biopharmaceutical company that works on creating technologies that will enable other pharmaceutical companies to develop and produce new drugs. Earlier this month, Ligand Pharmaceuticals has acquired economic rights to a variety of programs owned by CorMatrix®. Over the past 12 months, the company’s shares have gained 36.56%. For the first quarter of 2016, Ligand Pharmaceuticals (NASDAQ:LGND) reported earnings per share of $0.97 and revenue of $29.65 million, beating the estimates of $0.67 and $26.45 million, respectively. A couple of weeks ago, Roth Capital reiterated its ‘buy’ rating on Ligand Pharmaceuticals’ stock, with a price target of $147.00.
According to our database, the number of hedge funds bullish on Ligand Pharmaceuticals (NASDAQ:LGND) increased by four recently, and at the end of March the company was in 20 hedge funds’ portfolios, with Dorset Management holding the biggest position, valued at $128.5 million. Coming in second was Amy Minella’s Cardinal Capital, which reported a position worth $89.9 million in stock. Remaining investors long the stock encompassed Peter Muller’s PDT Partners, Jim Simons’s Renaissance Technologies, and Ken Fisher’s Fisher Asset Management.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| David M. Knott | 1,298,813 | 1,666 | 1,300,479 | 1,843 | 1,302,322 | 6.2% |
| Dorset Management Corporation 11 | 1,196,257 | 1,666 | 1,197,923 | 0 | 1,197,923 | 5.8% |
Follow David Mabon Knott's Dorset Management
Page 1 of 5 – SEC Filing
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| UNITED STATES |
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| SECURITIES AND EXCHANGE COMMISSION |
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| Washington, D.C. 20549 |
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| SCHEDULE 13D |
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Under the Securities Exchange Act of 1934
(Amendment No. 7)*
Ligand Pharmaceuticals Incorporated
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
53220K504
(CUSIP Number)
David M. Knott
Dorsett Management Corporation
485 Underhill Boulevard, Suite 205
Syosset, New York 11791
(516) 364-0303
May 23, 2016
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1 (f) or 240.13d-1 (g), check the following box x
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §13d-7 (b) for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
