State of Alaska Department of Revenue Purchases 510 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

State of Alaska Department of Revenue raised its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,425 shares of the biotechnology company’s stock after purchasing an additional 510 shares during the period. State of Alaska Department of Revenue owned 0.06% of Ligand Pharmaceuticals worth $1,043,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ligand Pharmaceuticals by 23.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 125 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Ligand Pharmaceuticals by 3.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the biotechnology company’s stock valued at $881,000 after purchasing an additional 300 shares during the period. CWC Advisors LLC. bought a new position in Ligand Pharmaceuticals in the 3rd quarter valued at $265,000. Everence Capital Management Inc. bought a new position in Ligand Pharmaceuticals in the 3rd quarter valued at $276,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Ligand Pharmaceuticals by 16.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 115,480 shares of the biotechnology company’s stock valued at $11,558,000 after purchasing an additional 16,446 shares during the period. 91.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $106.39, for a total value of $159,585.00. Following the transaction, the insider now owns 22,534 shares in the company, valued at approximately $2,397,392.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Andrew Reardon sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $106.39, for a total transaction of $159,585.00. Following the transaction, the insider now owns 22,534 shares in the company, valued at $2,397,392.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd C. Davis purchased 2,500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $97.39 per share, for a total transaction of $243,475.00. Following the transaction, the chief executive officer now directly owns 123,010 shares of the company’s stock, valued at $11,979,943.90. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 51,613 shares of company stock worth $5,255,692. 5.90% of the stock is currently owned by company insiders.

Ligand Pharmaceuticals Trading Up 0.2 %

LGND stock opened at $110.22 on Tuesday. The firm’s 50-day moving average price is $104.38 and its two-hundred day moving average price is $93.91. Ligand Pharmaceuticals Incorporated has a 12-month low of $51.21 and a 12-month high of $115.53. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 50.82 and a beta of 0.99.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.34. Ligand Pharmaceuticals had a net margin of 29.69% and a return on equity of 7.91%. The firm had revenue of $41.50 million for the quarter, compared to analysts’ expectations of $33.04 million. During the same quarter in the previous year, the company earned $1.10 earnings per share. The company’s revenue for the quarter was up 57.2% compared to the same quarter last year. Equities analysts predict that Ligand Pharmaceuticals Incorporated will post 3.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $157.00 price objective on shares of Ligand Pharmaceuticals in a report on Thursday, October 31st. Craig Hallum lifted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Benchmark lifted their target price on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Oppenheimer began coverage on shares of Ligand Pharmaceuticals in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $135.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ligand Pharmaceuticals has a consensus rating of “Buy” and an average target price of $132.83.

Ligand Pharmaceuticals Company 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.