Court Place Advisors LLC Has $1.35 Million Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Court Place Advisors LLC reduced its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.1% in the 3rd quarter, Holdings Channel reports. The fund owned 13,483 shares of the biotechnology company’s stock after selling 725 shares during the quarter. Court Place Advisors LLC’s holdings in Ligand Pharmaceuticals were worth $1,350,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Woodstock Corp raised its holdings in shares of Ligand Pharmaceuticals by 0.3% during the third quarter. Woodstock Corp now owns 29,211 shares of the biotechnology company’s stock worth $2,924,000 after acquiring an additional 100 shares during the period. Creative Planning increased its holdings in Ligand Pharmaceuticals by 4.0% during the 3rd quarter. Creative Planning now owns 2,896 shares of the biotechnology company’s stock worth $290,000 after purchasing an additional 111 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Ligand Pharmaceuticals by 21.7% in the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 135 shares during the period. Arizona State Retirement System boosted its position in shares of Ligand Pharmaceuticals by 3.4% during the second quarter. Arizona State Retirement System now owns 4,708 shares of the biotechnology company’s stock worth $397,000 after buying an additional 156 shares during the period. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Ligand Pharmaceuticals by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 14,344 shares of the biotechnology company’s stock worth $1,049,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Ratings Changes

LGND has been the topic of a number of recent research reports. Oppenheimer started coverage on shares of Ligand Pharmaceuticals in a report on Thursday, October 3rd. They issued an “outperform” rating and a $135.00 price objective on the stock. HC Wainwright lifted their target price on Ligand Pharmaceuticals from $144.00 to $157.00 and gave the company a “buy” rating in a research report on Monday. Craig Hallum increased their price objective on Ligand Pharmaceuticals from $135.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 7th. Finally, Benchmark raised their target price on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $134.40.

Ligand Pharmaceuticals Stock Up 0.3 %

Shares of LGND traded up $0.30 during mid-day trading on Friday, hitting $111.29. 10,399 shares of the company’s stock were exchanged, compared to its average volume of 135,067. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 21.47 and a beta of 1.00. The stock’s 50-day simple moving average is $103.53 and its 200-day simple moving average is $92.45. Ligand Pharmaceuticals Incorporated has a 52 week low of $49.24 and a 52 week high of $112.25.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.34. Ligand Pharmaceuticals had a return on equity of 7.91% and a net margin of 29.69%. The firm had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $33.04 million. During the same period in the previous year, the firm earned $1.10 EPS. The company’s quarterly revenue was up 57.2% compared to the same quarter last year. Analysts forecast that Ligand Pharmaceuticals Incorporated will post 3.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, insider Andrew Reardon sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $106.39, for a total transaction of $159,585.00. Following the sale, the insider now owns 22,534 shares in the company, valued at approximately $2,397,392.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Todd C. Davis purchased 2,500 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $97.39 per share, for a total transaction of $243,475.00. Following the purchase, the chief executive officer now owns 123,010 shares in the company, valued at approximately $11,979,943.90. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Andrew Reardon sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $106.39, for a total transaction of $159,585.00. Following the transaction, the insider now owns 22,534 shares of the company’s stock, valued at approximately $2,397,392.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,613 shares of company stock valued at $5,255,692 in the last ninety days. 5.90% of the stock is currently owned by company insiders.

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.