Virginia Retirement Systems ET AL reduced its holdings in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,600 shares of the biotechnology company’s stock after selling 1,500 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Ligand Pharmaceuticals were worth $1,782,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. increased its position in Ligand Pharmaceuticals by 0.6% in the 1st quarter. BlackRock Inc. now owns 3,013,829 shares of the biotechnology company’s stock valued at $497,763,000 after acquiring an additional 16,869 shares during the period. Summit Trail Advisors LLC boosted its stake in Ligand Pharmaceuticals by 14,496.1% during the 1st quarter. Summit Trail Advisors LLC now owns 1,948,730 shares of the biotechnology company’s stock valued at $1,949,000 after purchasing an additional 1,935,379 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Ligand Pharmaceuticals by 5.3% during the 2nd quarter. Victory Capital Management Inc. now owns 537,355 shares of the biotechnology company’s stock valued at $111,324,000 after purchasing an additional 27,075 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in Ligand Pharmaceuticals by 6.7% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 501,894 shares of the biotechnology company’s stock valued at $103,977,000 after purchasing an additional 31,364 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in Ligand Pharmaceuticals by 16.6% during the 1st quarter. OppenheimerFunds Inc. now owns 294,899 shares of the biotechnology company’s stock valued at $48,705,000 after purchasing an additional 41,938 shares in the last quarter.

A number of equities analysts have issued reports on the company. Goldman Sachs Group assumed coverage on Ligand Pharmaceuticals in a research note on Friday. They set a “hold” rating and a $256.00 price target for the company. Roth Capital reaffirmed a “neutral” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Stephens reaffirmed a “buy” rating and set a $248.00 price target on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $249.00 price target on shares of Ligand Pharmaceuticals in a research note on Tuesday, August 7th. Finally, Craig Hallum increased their price target on Ligand Pharmaceuticals from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Ligand Pharmaceuticals currently has an average rating of “Buy” and an average price target of $208.57.

Shares of NASDAQ LGND opened at $239.66 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.34 and a quick ratio of 2.32. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 93.25, a PEG ratio of 1.69 and a beta of 0.91. Ligand Pharmaceuticals Inc. has a 1 year low of $123.11 and a 1 year high of $255.38.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Monday, August 6th. The biotechnology company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.25. The firm had revenue of $90.00 million during the quarter, compared to analyst estimates of $82.20 million. Ligand Pharmaceuticals had a return on equity of 25.95% and a net margin of 52.10%. The firm’s quarterly revenue was up 221.4% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. equities research analysts forecast that Ligand Pharmaceuticals Inc. will post 5.74 earnings per share for the current year.

In other news, Director John W. Kozarich sold 2,500 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $207.48, for a total transaction of $518,700.00. Following the completion of the sale, the director now directly owns 28,642 shares of the company’s stock, valued at approximately $5,942,642.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Lamattina sold 4,000 shares of the firm’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $194.51, for a total value of $778,040.00. Following the sale, the director now directly owns 24,956 shares of the company’s stock, valued at $4,854,191.56. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.

Ligand Pharmaceuticals Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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

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