Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System boosted its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,100 shares of the biotechnology company’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Ligand Pharmaceuticals were worth $975,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Yousif Capital Management LLC increased its position in Ligand Pharmaceuticals by 1.4% during the fourth quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock worth $771,000 after buying an additional 96 shares during the period. Creative Planning increased its position in Ligand Pharmaceuticals by 4.0% during the third quarter. Creative Planning now owns 2,896 shares of the biotechnology company’s stock worth $290,000 after buying an additional 111 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Ligand Pharmaceuticals by 23.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after buying an additional 125 shares during the period. Amalgamated Bank increased its position in Ligand Pharmaceuticals by 3.7% during the third quarter. Amalgamated Bank now owns 5,349 shares of the biotechnology company’s stock worth $535,000 after buying an additional 191 shares during the period. Finally, Woodstock Corp increased its position in Ligand Pharmaceuticals by 0.7% during the fourth quarter. Woodstock Corp now owns 29,411 shares of the biotechnology company’s stock worth $3,151,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Price Performance

Ligand Pharmaceuticals stock opened at $120.00 on Tuesday. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.72 and a 1-year high of $129.90. The company has a market cap of $2.27 billion, a PE ratio of 47.81 and a beta of 1.04. The stock’s 50 day moving average price is $113.82 and its 200 day moving average price is $110.01.

Analysts Set New Price Targets

Several research analysts have weighed in on LGND shares. Barclays lifted their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Royal Bank of Canada lifted their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Oppenheimer lifted their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Finally, HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $147.00.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the sale, the director now directly owns 29,515 shares in the company, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Octavio Espinoza sold 2,104 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total value of $244,842.48. Following the sale, the chief financial officer now owns 20,647 shares in the company, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.