Ligand Pharmaceuticals Inc. (LGND) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund cut its stake in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,266 shares of the biotechnology company’s stock after selling 1,007 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Ligand Pharmaceuticals worth $1,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Teachers Advisors LLC boosted its stake in shares of Ligand Pharmaceuticals by 12.8% in the 2nd quarter. Teachers Advisors LLC now owns 37,033 shares of the biotechnology company’s stock valued at $4,496,000 after purchasing an additional 4,208 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in Ligand Pharmaceuticals by 7.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 60,894 shares of the biotechnology company’s stock worth $7,393,000 after buying an additional 4,306 shares during the period. Nationwide Fund Advisors boosted its position in Ligand Pharmaceuticals by 20.5% during the 2nd quarter. Nationwide Fund Advisors now owns 21,553 shares of the biotechnology company’s stock worth $2,617,000 after buying an additional 3,669 shares during the period. New York State Common Retirement Fund boosted its position in Ligand Pharmaceuticals by 11.0% during the 2nd quarter. New York State Common Retirement Fund now owns 57,020 shares of the biotechnology company’s stock worth $6,922,000 after buying an additional 5,641 shares during the period. Finally, Northern Trust Corp boosted its position in Ligand Pharmaceuticals by 7.5% during the 2nd quarter. Northern Trust Corp now owns 316,587 shares of the biotechnology company’s stock worth $38,435,000 after buying an additional 21,982 shares during the period.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 28,099 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $153.70, for a total transaction of $4,318,816.30. Following the sale, the chief executive officer now directly owns 162,299 shares of the company’s stock, valued at $24,945,356.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen L. Sabba sold 925 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $137.25, for a total value of $126,956.25. Following the sale, the director now owns 26,985 shares in the company, valued at $3,703,691.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,583 shares of company stock worth $9,456,283. Insiders own 8.30% of the company’s stock.

Several analysts have recently weighed in on LGND shares. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Craig Hallum reiterated a “buy” rating and issued a $170.00 price objective (up previously from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. HC Wainwright set a $157.00 price target on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, October 24th. Deutsche Bank lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price target for the company. in a research note on Monday, November 20th. Finally, Roth Capital set a $158.00 price objective on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $150.83.

Shares of Ligand Pharmaceuticals Inc. (NASDAQ LGND) traded up $4.71 during trading hours on Thursday, hitting $157.25. 230,500 shares of the company were exchanged, compared to its average volume of 301,509. The stock has a market cap of $3,219.43, a P/E ratio of 228.57, a P/E/G ratio of 1.63 and a beta of 1.07. Ligand Pharmaceuticals Inc. has a 52 week low of $95.08 and a 52 week high of $170.30. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05.

WARNING: “Ligand Pharmaceuticals Inc. (LGND) Shares Sold by Texas Permanent School Fund” was originally published by Week Herald and is the property of of Week Herald. If you are reading this report on another website, it was stolen and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be accessed at https://weekherald.com/2018/02/15/ligand-pharmaceuticals-inc-lgnd-stake-lowered-by-texas-permanent-school-fund.html.

Ligand Pharmaceuticals 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)

Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply