State of Alaska Department of Revenue Increases Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

State of Alaska Department of Revenue increased its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 78.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,757 shares of the biotechnology company’s stock after buying an additional 1,657 shares during the period. State of Alaska Department of Revenue’s holdings in Ligand Pharmaceuticals were worth $456,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LGND. Court Place Advisors LLC raised its stake in Ligand Pharmaceuticals by 0.5% in the first quarter. Court Place Advisors LLC now owns 21,869 shares of the biotechnology company’s stock worth $2,315,000 after buying an additional 100 shares during the last quarter. Independent Portfolio Consultants Inc. raised its stake in Ligand Pharmaceuticals by 1.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,555 shares of the biotechnology company’s stock worth $165,000 after buying an additional 15 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in Ligand Pharmaceuticals by 4.2% in the first quarter. Rice Hall James & Associates LLC now owns 219,500 shares of the biotechnology company’s stock worth $23,232,000 after buying an additional 8,925 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in Ligand Pharmaceuticals by 5.8% in the first quarter. Conestoga Capital Advisors LLC now owns 360,774 shares of the biotechnology company’s stock worth $38,184,000 after buying an additional 19,752 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Ligand Pharmaceuticals by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 7,700 shares of the biotechnology company’s stock worth $815,000 after buying an additional 100 shares during the last quarter.

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) traded down 0.28% on Friday, hitting $126.26. The company’s stock had a trading volume of 172,896 shares. The stock’s 50 day moving average is $122.18 and its 200-day moving average is $112.68. Ligand Pharmaceuticals Incorporated has a 52 week low of $87.50 and a 52 week high of $129.94. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 307.95 and a beta of 0.96.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Monday, August 7th. The biotechnology company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.42. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The firm had revenue of $28 million during the quarter, compared to analyst estimates of $24.40 million. During the same quarter last year, the business posted $0.50 EPS. The company’s revenue was up 43.6% on a year-over-year basis. On average, equities research analysts anticipate that Ligand Pharmaceuticals Incorporated will post $2.95 earnings per share for the current year.

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A number of research firms recently issued reports on LGND. TheStreet raised Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Stephens reaffirmed an “overweight” rating and issued a $137.00 target price (up previously from $125.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 9th. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. BidaskClub raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Finally, Roth Capital increased their price target on Ligand Pharmaceuticals from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $133.71.

In other Ligand Pharmaceuticals news, insider Matthew W. Foehr sold 6,100 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $127.51, for a total transaction of $777,811.00. Following the completion of the sale, the insider now owns 101,020 shares of the company’s stock, valued at approximately $12,881,060.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Charles S. Berkman sold 18,625 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $126.96, for a total transaction of $2,364,630.00. Following the sale, the vice president now directly owns 24,423 shares of the company’s stock, valued at approximately $3,100,744.08. The disclosure for this sale can be found here. Insiders sold a total of 46,874 shares of company stock valued at $5,766,176 in the last ninety days. 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 is involved in the development and licensing of biopharmaceutical assets. 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.

Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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