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

Arizona State Retirement System lifted its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 2.4% during the fourth quarter, Holdings Channel reports. The firm owned 5,297 shares of the biotechnology company’s stock after acquiring an additional 125 shares during the quarter. Arizona State Retirement System’s holdings in Ligand Pharmaceuticals were worth $568,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in LGND. Atria Investments Inc increased its stake in Ligand Pharmaceuticals by 4.6% in the fourth quarter. Atria Investments Inc now owns 4,902 shares of the biotechnology company’s stock valued at $525,000 after purchasing an additional 217 shares during the period. Cookson Peirce & Co. Inc. increased its position in Ligand Pharmaceuticals by 56.3% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 7,650 shares of the biotechnology company’s stock valued at $820,000 after acquiring an additional 2,755 shares during the period. Victory Capital Management Inc. raised its stake in Ligand Pharmaceuticals by 1.4% during the 4th quarter. Victory Capital Management Inc. now owns 14,222 shares of the biotechnology company’s stock valued at $1,524,000 after acquiring an additional 200 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in Ligand Pharmaceuticals during the 4th quarter valued at approximately $213,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Ligand Pharmaceuticals by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 170,419 shares of the biotechnology company’s stock worth $18,260,000 after acquiring an additional 6,495 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the sale, the chief financial officer now directly owns 18,879 shares in the company, valued at $2,171,651.37. This trade represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LGND. StockNews.com cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, March 10th. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Barclays boosted their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada raised their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Ligand Pharmaceuticals Trading Up 0.5 %

Shares of Ligand Pharmaceuticals stock opened at $106.19 on Friday. The stock has a market capitalization of $2.04 billion, a P/E ratio of 42.31 and a beta of 1.12. The business’s fifty day moving average price is $114.38 and its 200 day moving average price is $111.66. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90.

About Ligand Pharmaceuticals

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.