Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $432,000 Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,034 shares of the biotechnology company’s stock after purchasing an additional 129 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Ligand Pharmaceuticals were worth $432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Barclays PLC grew its holdings in Ligand Pharmaceuticals by 20.0% during the third quarter. Barclays PLC now owns 43,456 shares of the biotechnology company’s stock worth $4,349,000 after buying an additional 7,247 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Ligand Pharmaceuticals by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company’s stock worth $42,874,000 after acquiring an additional 22,495 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Ligand Pharmaceuticals by 12.4% in the 3rd quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company’s stock worth $5,963,000 after acquiring an additional 6,555 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of Ligand Pharmaceuticals by 1.4% in the fourth quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock valued at $771,000 after purchasing an additional 96 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Ligand Pharmaceuticals by 5.5% during the third quarter. HighTower Advisors LLC now owns 5,142 shares of the biotechnology company’s stock valued at $518,000 after purchasing an additional 266 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LGND shares. StockNews.com upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Royal Bank of Canada boosted their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Barclays upped their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the transaction, the chief financial officer now owns 18,879 shares in the company, valued at approximately $2,171,651.37. This represents a 20.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals Trading Up 1.5 %

NASDAQ:LGND opened at $109.70 on Friday. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90. The firm’s 50 day moving average is $114.28 and its 200 day moving average is $111.97. The stock has a market capitalization of $2.11 billion, a PE ratio of 43.71 and a beta of 1.12.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.