California Public Employees Retirement System Sells 200 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

California Public Employees Retirement System reduced its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 0.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,700 shares of the biotechnology company’s stock after selling 200 shares during the period. California Public Employees Retirement System owned about 0.18% of Ligand Pharmaceuticals worth $3,990,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Tyers Asset Management LLC boosted its position in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 196 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Ligand Pharmaceuticals by 43.2% in the first quarter. LS Investment Advisors LLC now owns 1,197 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 361 shares in the last quarter. Flinton Capital Management LLC boosted its position in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Flinton Capital Management LLC now owns 1,258 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 238 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its position in shares of Ligand Pharmaceuticals by 1.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,555 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 15 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in Ligand Pharmaceuticals during the first quarter worth $174,000.

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) opened at 118.65 on Monday. The company has a 50 day moving average of $114.92 and a 200 day moving average of $108.32. Ligand Pharmaceuticals Incorporated has a 52-week low of $87.50 and a 52-week high of $139.79. The stock’s market capitalization is $2.49 billion.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by $0.16. The business had revenue of $29.27 million for the quarter, compared to analyst estimates of $30.25 million. Ligand Pharmaceuticals had a negative net margin of 2.91% and a positive return on equity of 2.57%. Ligand Pharmaceuticals’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. Analysts predict that Ligand Pharmaceuticals Incorporated will post $2.78 EPS for the current fiscal year.

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A number of research firms have recently weighed in on LGND. BidaskClub raised shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. ValuEngine raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Roth Capital set a $120.00 price target on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, May 22nd. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $130.47.

In related news, CEO John L. Higgins sold 12,000 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $114.87, for a total transaction of $1,378,440.00. Following the transaction, the chief executive officer now directly owns 151,171 shares of the company’s stock, valued at $17,365,012.77. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John L. Higgins sold 4,666 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $120.00, for a total value of $559,920.00. Following the transaction, the chief executive officer now directly owns 143,837 shares in the company, valued at $17,260,440. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,534 shares of company stock worth $6,694,514. 14.70% of the stock is owned by corporate insiders.

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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