Market Overview

Ligand Pharmaceuticals Reports Earnings; Lemelson Capital Adds To Short Position


Ligand Pharmaceuticals (NASDAQ: LGND) is trading up almost 10 percent following its earnings release and news that Lemelson Capital Management has further increased its short position in the company.

Chief Investment Officer Emmanuel Lemelson stated, "Ligand's 76 percent plunge in EPS, reported in the company's Q2 earnings release this morning, is alarming. Key revenue programs such as collaborative research and development are also continuing their multi-year slide, while stock-based compensation has reached new highs, far in excess of the company's insipid earnings."

Lemelson Capital had previously disclosed its short position and thesis in reports from June 16 and July 3. Shares had fallen nearly 17 percent prior to Monday's earnings announcement.

Shares traded recently at $53.89, up 9.8 percent.

Posted-In: Emmanuel LemelsonNews Movers


Related Articles (LGND)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

ITT Educational Services Investors Get Schooled

UPDATE: Barclays Downgrades RPX