Louisiana State Employees Retirement System increased its stake in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,400 shares of the biotechnology company’s stock after buying an additional 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Ligand Pharmaceuticals were worth $1,002,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Ligand Pharmaceuticals by 165.1% in the first quarter. BlackRock Inc. now owns 1,381 shares of the biotechnology company’s stock valued at $147,000 after buying an additional 860 shares during the last quarter. Independent Portfolio Consultants Inc. raised its position in shares of Ligand Pharmaceuticals by 1,410.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,510 shares of the biotechnology company’s stock valued at $180,000 after buying an additional 1,410 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Ligand Pharmaceuticals during the first quarter valued at $207,000. Miles Capital Inc. bought a new position in shares of Ligand Pharmaceuticals during the first quarter valued at $252,000. Finally, Acrospire Investment Management LLC bought a new position in shares of Ligand Pharmaceuticals during the first quarter valued at $268,000.
Ligand Pharmaceuticals Inc. (NASDAQ:LGND) traded up 0.05% during trading on Friday, reaching $102.06. 345,894 shares of the company’s stock traded hands. Ligand Pharmaceuticals Inc. has a 52-week low of $81.79 and a 52-week high of $139.79. The company’s 50 day moving average is $109.46 and its 200-day moving average is $116.89. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 9.62 and a beta of 1.27.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. The firm had revenue of $19.50 million for the quarter, compared to the consensus estimate of $18.12 million. Ligand Pharmaceuticals had a net margin of 263.14% and a return on equity of 11.64%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.81 EPS. On average, analysts anticipate that Ligand Pharmaceuticals Inc. will post $3.45 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on LGND shares. Roth Capital reissued a “buy” rating and issued a $149.00 price objective on shares of Ligand Pharmaceuticals in a research report on Sunday, August 14th. Deutsche Bank AG raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and dropped their price objective for the company from $110.00 to $105.00 in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Finally, Vetr raised shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 price objective on the stock in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $136.33.
In related news, CEO John L. Higgins sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $117.34, for a total value of $352,020.00. Following the transaction, the chief executive officer now directly owns 122,664 shares of the company’s stock, valued at approximately $14,393,393.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Kozarich sold 1,666 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $105.40, for a total transaction of $175,596.40. Following the completion of the transaction, the director now directly owns 40,783 shares in the company, valued at $4,298,528.20. The disclosure for this sale can be found here. Company insiders own 14.70% of the company’s stock.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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