Louisiana State Employees Retirement System Increases Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Louisiana State Employees Retirement System raised its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,100 shares of the biotechnology company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LGND. Yousif Capital Management LLC raised its stake in Ligand Pharmaceuticals by 1.4% in the 4th quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock valued at $771,000 after purchasing an additional 96 shares during the last quarter. Creative Planning raised its stake in Ligand Pharmaceuticals by 4.0% in the 3rd quarter. Creative Planning now owns 2,896 shares of the biotechnology company’s stock valued at $290,000 after purchasing an additional 111 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake 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 last quarter. Amalgamated Bank raised its stake in Ligand Pharmaceuticals by 3.7% in the 3rd quarter. Amalgamated Bank now owns 5,349 shares of the biotechnology company’s stock valued at $535,000 after purchasing an additional 191 shares during the last quarter. Finally, Woodstock Corp raised its stake in Ligand Pharmaceuticals by 0.7% in the 4th quarter. Woodstock Corp now owns 29,411 shares of the biotechnology company’s stock valued at $3,151,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Trading Up 5.3 %

NASDAQ LGND opened at $120.00 on Tuesday. The stock has a market cap of $2.27 billion, a PE ratio of 47.81 and a beta of 1.04. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90. The stock has a fifty day simple moving average of $113.82 and a 200-day simple moving average of $110.01.

Wall Street Analysts Forecast Growth

LGND has been the subject of several recent research reports. Benchmark reissued a “buy” rating and issued a $135.00 price objective on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Barclays raised their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Royal Bank of Canada raised their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Oppenheimer raised their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ligand Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $147.00.

Insider Transactions at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 2,104 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $116.37, for a total transaction of $244,842.48. Following the completion of the transaction, the chief financial officer now directly owns 20,647 shares in the company, valued at $2,402,691.39. This trade represents a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Lamattina sold 2,406 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following the transaction, the director now owns 29,515 shares of the company’s stock, valued at $3,649,529.75. This trade represents a 7.54 % 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.

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.