Amvona

Ligand Pharmaceuticals (NASDAQ: LGND) Stock Gaps Down, Fr. Emmanuel Speaks Out

Fr. Emmanuel Lemelson speaks out against alleged fraud and complicit regulators as Ligand shares continue to implode, heading towards new multi-year lows

Shelburne, VT, November 7, 2019 -- Rev. Fr. Emmanuel Lemelson, CIO of Lemelson Capital Management (LCM), today, continued to speak out against alleged fraud and abuses at Ligand Pharmaceuticals (Ligand) as well as complicit regulators.

Ligand’s shares continue to plummet following a catastrophic earnings report released on November 5, 2019, after the market closed.[1]  The collapse continued a trend, seen in recent months, that has led to a decline of as much as 70 percent in Ligand's share price since late September 2018 and destroyed billions of dollars in shareholder value, even as markets recently achieved record highs. 

Fr. Emmanuel's publicly available research and commentary have charted alleged fraud and regulatory abuses at Ligand Pharmaceuticals spanning multiple years. Lemelson has made over 1000 allegations, including business accounting and securities fraud perpetrated by Ligand, including abuse of the Orphan Drug Act of 1983, in collaboration with purported "licensees," to increase the price [2] of drugs in poor and developing countries.

"Exploiting the sick, the poor and the vulnerable, to enrich executives is unacceptable," said Lemelson.

  • Read 326 times
Read more...

Bed Bath & Beyond stock soars as much as 24% in extended trading

*Please read the full notice and disclaimer at the bottom of this page.

"We've been buying it aggressively, [Bed Bath and Beyond]..."

- Fr. Emmanuel Lemelson, Benzinga, August 12, 2019

Shares of Bed Bath & Beyond soared as much as 24% in extended trading today after the company announced Mark Tritton would become its new president and CEO effective Nov. 4.

Listen to Fr. Emmanuel live on August 12, 2019, speaking about his aggressive purchases of the stock, which closed that day at $8.28 per share.

Watch the full interview below or click here.

<

Disclosure: Lemelson Capital Management is long shares of Bed Bath and Beyond on behalf of its clients.

  • Read 441 times
Read more...

History of Fr. Emmanuel's Investor Activism Published As Ligand (NASDAQ: LGND) Collapses

To read the history click here

Lemelson Capital Management Logo resized to 220 px"Ligand is only one market correction away from collapse which will leave investors and employees defenseless. Regulatory watchdogs have been asleep at the gate failing once again to detect and prosecute fraud and abuse,"  

Fr. Emmanuel Lemelson's July 13, 2018 letter to Congress

On October 15, 2018, global financial media outlet Barron’s reported that the SEC had charged Fr. Emmanuel Lemelson, “accusing him of making false statements,” about Ligand Pharmaceuticals and making $1.3 million in profits by "driving down and betting against," the stock of the company. According to Barron’s, Lemelson condemned the SEC case as ”an effort to destroy the reputation of a whistle-blower.” 

In the ensuing ten months, shares of Ligand Pharmaceuticals (NASDAQ: LGND) plummeted as much as 70 percent, recently reaching a new 4-year low and destroying billions of dollars in shareholder value.

Lemelson Capital Management recently published a reliably-sourced, abridged history of Fr. Emmanuel's work as an activist investor, including his battle with US regulators over his Ligand short.  To learn more click here.

Disclosure: Lemelson Capital Management is short shares of Ligand Pharmaceutical (NASDAQ: LGND) and Viking Therapeutics (NASDAQ: VKTX). 

  • Read 755 times
Read more...

Consistent With Lemelson's Recent Commentary, Bed Bath & Beyond (NASDAQ: BBBY) Spikes on M&A Talk

*Please read the full notice and disclaimer at the bottom of this page.

"We've been buying it aggressively, [Bed Bath and Beyond]... probably it will be a take-out target, I mean, either a PE firm or it could be Amazon (NADAQ: AMZN),"

- Fr. Emmanuel Lemelson, Benzinga, August 12, 2019

Shares of Bed Bath & Beyond (NASDAQ: BBBY) spike after The Deal is said to report the retailer hired Goldman Sachs to help it explore bids. The report hasn't been confirmed by the company or any other sources.

Listen to Fr. Emmanuel live on August 12, 2019, speaking to the crew of Benzinga about the possibility of an acquisition of the company. 

Watch the full interview below or click here.

Disclosure: Lemelson Capital Management is long shares of Bed Bath and Beyond on behalf of its clients.

  • Read 889 times
Read more...

Listen to Lemelson on Benzinga Discussing Ligand Pharmaceuticals (NASDAQ: LGND) Share Price Collapse and More

*Please read the full notice and disclaimer at the bottom of this page.

In July 2018 we said; 'the stock is set to collapse,' "

Listen to Fr. Emmanuel live on August 12, 2019, speaking to the crew of Benzinga about markets, Ligand Pharmaceuticals (NASDAQ: LGND) extraordinary share price collapse as well as the following securities:

Watch the full interview below or click here.

Disclosure: Lemelson Capital Management is short shares of Ligand Pharmaceuticals on behalf of its clients.

  • Read 1021 times
Read more...

Lemelson Capital Increases Short Position in Ligand Pharmaceuticals (NASDAQ: LGND), Calls on US Attorney to Investigate

 Lemelson Capital Increases Short Position in Ligand Pharmaceuticals (NASDAQ: LGND), Calls on US Attorney to Investigate

As Ligand shares implode, reaching new multi-year low, Lemelson calls for intervention to protect investors

Shelburne, VT, July 30, 2019 -- Lemelson Capital Management (LCM), a private investment management firm, today announced that it had increased its short position in Ligand Pharmaceuticals (NASDAQ: LGND). The firm today also called on the US Attorney’s office for the Southern District of California to investigate Ligand for alleged criminal violations of federal securities laws amidst what LCM has called SEC failures.

LCM’s 2014-2018 research and commentary charted the alleged fraud. As of today, Ligand’s shares continue to plummet,[1] contributing to a drop in the share price of as much as 65 percent since late September 2018 and destroying billions of dollars in shareholder value, even as markets recently achieved record highs.

To read Lemelson’s prior research reports and commentary on Ligand click here

Sadly, investors have been ruined by Ligand’s alleged scheme while the SEC has ignored the red flags and botched opportunities for a proper investigation of the company,” said Lemelson Capital’s Chief Investment Officer Fr. Emmanuel Lemelson."

  • Read 1193 times
Read more...

Fr. Emmanuel Speaks at The Amvona Fund, LP 2019 Annual Meeting

Fr. Emmanuel's Amvona Fund Posted Net Return Of 70.3% In 1st Half of 2019.

CIO Fr. Emmanuel Lemelson, joined by CFO John Zoraian, leads a discussion moderated by Lester Firstenberger at The Amvona Fund, LP 2019 Annual Meeting.

This extended highlight reel covers Lemelson's Christian philosophy of investment, activism, his battle with U.S. regulators over Ligand Pharmaceuticals (NASDAQ: LGND) and more.

  • Read 991 times
Read more...

Fr. Emmanuel's Amvona Fund Posted Net Return Of 70.3% In 1st Half of 2019

Lemelson Capital Management Announces 1H, 2019 Financial Results for The Amvona Fund, LP

Short position in Ligand pharmaceuticals, long position in Geospace Technologies, contribute to 70.271 percent net return in 1H, 2019

Shelburne, Vermont, July 16, 2019, PR Newswire—Lemelson Capital Management, LLC (LCM), a private investment management firm, today announced performance results for its flagship Amvona Fund, LP. (The Fund). For 1H 2019, The Amvona Fund returned 70.27 percent net of all fees and expenses, beating by 51.73 percent the benchmark S&P 500 Total Return Index,2 which returned 18.54 percent during the same period.

The Fund’s short position in Ligand Pharmaceuticals (NASDAQ: LGND) and Long position in Geospace Technologies (NASDAQ: GEOS) contributed to the returns.  During the period, The Fund continued to expand its investor base.3

“Our short position in Ligand and long position in Geospace Technologies are playing out as predicted, with the share price of Ligand continuing to crumble in the first half of 2019 and recently trading near a two-year low, while Geospace Technologies approaches a two-year high,” said Lemelson Capital’s Chief Investment Officer Fr. Emmanuel Lemelson.

Through various research reports and media interviews, LCM has made nearly 1000 factually accurate allegations concerning Ligand, including claims of business, accounting and securities fraud, most borne out by subsequent events to an extraordinary degree, including Lemelson’s public commentary in July 2018, that Ligand’s shares were set to “collapse.” Ligand’s stock, consistent with LCM’s analysis, has plummeted as much as 63 percent since late September 2018 and traded near a two-year low of $98.56 per share as recently as January 16, 2019.

“We believe Ligand is a zero, and after covering our highly successful short positions in the company in both 2014 and 2015, we intend to continue to ride the current profitable short position all the way down,” Lemelson added.

Separately, Lemelson today also announced new or expanded commitments in:

  • Bed Bath and Beyond (NASDAQ: BBBY)
  • Buckle Inc. (NYSE: BKE)
  • Dicks Sporting Goods (NYSE: DKS)
  • Kraft Heinz (NASDAQ: KHC)
  • Read 1268 times
Read more...

Listen to Fr. Emmanuel Live on Benzinga Discussing The US-China Trade War and More

*Please read the full notice and disclaimer at the bottom of this page.

Listen to Fr. Emmanuel live on May 13, 2019, speaking to the crew of Benzinga TV about the US-China trade war and the following securities:

Watch the full interview below or click here.

  • Read 1240 times
Read more...

Bed Bath and Beyond Rockets Higher

*Please read the full notice and disclaimer at the bottom of this page.

Bed Bath and Beyond (NASDAQ: BBBY) rocketed over 28 percent higher today March 26, 2019, climbing over 54 percent since Fr. Emmanuel spoke live to the crew of Benzinga TV on December 28, 2018, about the company, saying:

"It's [BBBY] now between $10 and $11 per share, pretty extraordinary business if you think about it, about a 1.4 billion market cap., just over a billion of that in cash, and then a company that threw off $750 million in free cash flow... in the last twelve months... growing revenues for a very long time, an iconic American retailer... they're paying almost a 5% dividend... for the record I think it's worth more like $40 or $50 and I wouldn't be surprised if in the next year we see it return to that sort of valuation... "

Fig. 1:  Bed Bath and Beyond stock Price Performance:
December 28, 2018 - March 26, 2019

BBBY SPXTR chart 1

  • Read 1537 times
Read more...

Ligand Pharmaceuticals (NASDAQ: LGND) Disposes of Promacta, Stock Plunges

...the company faces it biggest existential threat in what is likely to be a momentous impairment of its largest royalty generating asset, Promacta,"

Fr. Emmanuel Lemelson, June 16, 2014 Research Report

Now on the left side of this chart, with Promacta...  the inevitable patent termination, product comes off patent sales decline and they will go to zero"

John Higgins, Ligand Pharma CEO, March 5, 2019 Conference Call

Shares of Ligand Pharmaceuticals (NASDAQ: LGND) continued its downward spiral, plunging almost 13 percent in early trading today, March 6, 2019, falling as much as 63 percent since September 30, 2018 and hitting a 2-year low.  Yesterday after market close the company reported it was disposing of its single-largest asset, the 25-year-old Promacta, stating in part:

We do not control the IP and some of the initial patents come off as early as 2021," (referring to the event as a 'patent cliff').

The company further stated:

When it [Promacta] does royalties are expected to quickly diminish significantly... when off patent, the following year the company estimated it could lose over $125 million of revenue,"

In June 2014, Lemelson Capital Management issued its first report pointing out competitive threats to Promacta, its limited future potential as well as the risks associated with Ligand's revenue streams.  Since that time, Fr. Emmanuel has publish 4 additional research reports, issued 16 articles/press releases, posted 66 tweets, given 11 interviews, and written two letters to Congress, making nearly 1,000 distinct allegations, including accounting and securities fraud perpetrated by Ligand. 

In January 2019 multiple law firms announced investigations into Ligand for possible violations of federal securities laws.

LGND chart 3

  • Read 1978 times
Read more...

As Dominos and Ligand Pharma Fall, Geospace Technologies hits new 52-week High

*Please read the full notice and disclaimer at the bottom of this page.

Dominos Pizza (NASDAQ: DPZ) fell as much as 10 percent today, falling over 16 percent since August 30, 2018. 
 
On May 11, 2018, Fr. Emmanuel spoke live to the crew of Benzinga TV about the company, saying:
It's just unsustainable, completely unsustainable... you can not borrow money to increase a shareholder deficit... they're extracting wealth from their owners and they're doing it using leverage,”
To listen to Lemelson's commentary on Dominos click below:

Separately, in a letter dated July 13, 2018, Lemelson wrote to the US Senate:

Ligand is only one market correction away from collapse which will leave investors and employees defenseless."

Since that time, Ligand Pharmaceuticals (NASDAQ: LGND) shares have continued to slide, falling as much as 63 percent off it's September 28, 2018 high.  Both stocks have badly underperformed the benchmark S&P 500 Total Returns Index, which fell just 3.48 percent since August 30, 2018.
 
Fig. 1:  Dominos Pizza and Ligand Pharmaceuticals stock Price Performance vs. The S&P 500 TRI:
August 30, 2018 - February 21, 2019
 
DPZ LGND SPXTR chart
 
On December 28, 2018, Lemelson spoke again to the crew of Benzinga TV about recent market volatility, fraud, macroeconomic issues, and among other securities, Geospace Technologies (NASDAQ: GEOS), commenting:
...they [Geospace] have a highly diversified business now... the business is extremely sound... there's an enormous margin of safety... I think we're right, I think we'll be proven right and I think the return will be tremendous..."
To listen to the interview click below:

Since making these comments, Geospace Technologies shares have risen nearly 54 percent (vs.12 percent for the S&P 500 Total Returns Index) and have recently hit a new 52-week high.  

Fig. 2:  Geospace Technologies stock Price Performance vs. The S&P 500 TRI:
December 28, 2018 - February 21, 2019
 
DPZ LGND SPXTR GEOS BBBY AAPL FB TSLA chart 1
 
  • Read 1336 times
Read more...

Another Prescient Call, Bed Bath and Beyond Surges 49%

*Please read the full notice and disclaimer at the bottom of this page.

Bed Bath and Beyond (NASDAQ: BBBY) has surged almost 49 percent since December 28, 2018, when Fr. Emmanuel spoke live to the crew of Benzinga TV about the company, saying:

"It's [BBBY] now between $10 and $11 per share, pretty extraordinary business if you think about it, about a 1.4 billion market cap., just over a billion of that in cash, and then a company that threw off $750 million in free cash flow... in the last twelve months... growing revenues for a very long time, an iconic American retailer... they're paying almost a 5% dividend... for the record I think it's worth more like $40 or $50 and I wouldn't be surprised if in the next year we see it return to that sort of valuation... "

In the roughly six weeks since the interview, the stock has risen approximately 49 percent vs. 11 percent for the S&P 500 Total Returns Index:

Fig. 1:  Bed Bath and Beyond stock Price Performance:
December 28, 2018 - February 14, 2019

BBBY SPXTR chart 2

  • Read 1366 times
Read more...

Don't
Hesitate To
Contact Us

 

145 Pine Haven Shores Road
Suite 2293
Shelburne, VT 05482

Feel free to email us. We would be happy to answer any questions you might have.


Copyright © 2019 Amvona