|By PR Newswire||
|August 4, 2014 02:46 PM EDT||
MARLBOROUGH, Mass., Aug. 4, 2014 /PRNewswire/ -- Lemelson Capital Management, a private investment management firm, today announced that it has further increased its short position in Ligand Pharmaceuticals (NASDAQ: LGND) and updated with new information its June 16 and July 3, 2014 research reports on the stock.
- Lemelson Capital's original June 16, 2014 report can be found here.
- Lemelson Capital's appended 12-paged update, published on July 3, 2014, can be found here.
"Ligand's 76 percent plunge in EPS, reported in the company's Q2 earnings release this morning, is alarming, while the negative impact of new oral regimens on interferon use and, parenthetically, Promacta sales have not yet hit the P & L of Ligand or its partner Amgen," Lemelson Capital Management's Chief Investment Officer Emmanuel Lemelson said in releasing today's updated Ligand Pharmaceuticals report. "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," he said.
Today's updated research report on Ligand Pharmaceuticals includes new material information that has been added to the firm's original June 16, 2014 research report. Today's report can be found here.
Disclosure: Lemelson Capital is currently short shares of LGND for its clients.
About Lemelson Capital Management:
Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments. The firm's flagship fund, The Amvona Fund, has been named repeatedly one of the world's top performing hedge funds. For more information, see: http://www.lemelsoncapital.com
Chief Investment Officer
Lemelson Capital Management, LLC
SOURCE Lemelson Capital Management, LLC
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