Texas Permanent School Fund Acquires 339 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Texas Permanent School Fund grew its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating) by 2.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 12,187 shares of the biotechnology company’s stock after purchasing an additional 339 shares during the quarter. Texas Permanent School Fund’s holdings in Ligand Pharmaceuticals were worth $1,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Isthmus Partners LLC grew its position in Ligand Pharmaceuticals by 6.5% during the 2nd quarter. Isthmus Partners LLC now owns 15,680 shares of the biotechnology company’s stock worth $1,399,000 after acquiring an additional 960 shares during the last quarter. abrdn plc grew its position in Ligand Pharmaceuticals by 27.9% during the 2nd quarter. abrdn plc now owns 428,585 shares of the biotechnology company’s stock worth $38,239,000 after acquiring an additional 93,582 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Ligand Pharmaceuticals by 38.1% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,078 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 573 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Ligand Pharmaceuticals by 13.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 26,618 shares of the biotechnology company’s stock worth $2,375,000 after acquiring an additional 3,090 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its position in Ligand Pharmaceuticals by 8.6% during the 2nd quarter. Stephens Investment Management Group LLC now owns 453,574 shares of the biotechnology company’s stock worth $40,468,000 after acquiring an additional 35,904 shares during the last quarter. Institutional investors own 87.87% of the company’s stock.

Insider Activity

In other news, CEO John L. Higgins sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $90.00, for a total value of $180,000.00. Following the transaction, the chief executive officer now directly owns 367,180 shares of the company’s stock, valued at approximately $33,046,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Octavio Espinoza sold 1,696 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $75.64, for a total value of $128,285.44. Following the transaction, the chief financial officer now directly owns 8,857 shares of the company’s stock, valued at approximately $669,943.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John L. Higgins sold 2,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $90.00, for a total value of $180,000.00. Following the completion of the transaction, the chief executive officer now directly owns 367,180 shares in the company, valued at $33,046,200. The disclosure for this sale can be found here. 10.40% of the stock is owned by company insiders.

Ligand Pharmaceuticals Trading Down 1.3 %

NASDAQ LGND opened at $77.35 on Friday. The firm has a market capitalization of $1.31 billion, a PE ratio of -62.38, a price-to-earnings-growth ratio of 4.39 and a beta of 1.04. The business’s 50-day moving average price is $84.52 and its two-hundred day moving average price is $88.78. Ligand Pharmaceuticals Incorporated has a 12 month low of $57.77 and a 12 month high of $168.11.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LGND shares. Benchmark reduced their price objective on Ligand Pharmaceuticals to $95.00 in a research report on Tuesday, November 15th. StockNews.com upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, November 3rd. Roth Capital reduced their price target on Ligand Pharmaceuticals from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, September 2nd. Finally, Barclays reduced their price target on Ligand Pharmaceuticals from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.00.

About Ligand Pharmaceuticals

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Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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

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