The Teacher Retirement System of Texas invests in Ligand Pharmaceuticals Inc. (LGND) Shares

The Teacher Retirement System of Texas invests in Ligand Pharmaceuticals Inc. (LGND) Shares

Teacher Retirement System of Texas raised its stake in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 27.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,790 shares of the biotechnology company’s stock after buying an additional 597 shares during the period. Teacher Retirement System of Texas’ holdings in Ligand Pharmaceuticals were worth $333,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. raised its stake in shares of Ligand Pharmaceuticals by 0.8% in the second quarter. Hanseatic Management Services Inc. now owns 7,819 shares of the biotechnology company’s stock worth $933,000 after buying an additional 60 shares in the last quarter. Suntrust Banks Inc. raised its stake in shares of Ligand Pharmaceuticals by 2.6% in the second quarter. Suntrust Banks Inc. now owns 5,441 shares of the biotechnology company’s stock worth $648,000 after buying an additional 136 shares in the last quarter. Creative Planning raised its stake in shares of Ligand Pharmaceuticals by 2.1% in the second quarter. Creative Planning now owns 10,199 shares of the biotechnology company’s stock worth $1,216,000 after buying an additional 209 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Ligand Pharmaceuticals by 2.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 9,750 shares of the biotechnology company’s stock worth $1,184,000 after buying an additional 250 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Ligand Pharmaceuticals by 1.5% in the second quarter. PNC Financial Services Group Inc. now owns 18,694 shares of the biotechnology company’s stock worth $2,231,000 after buying an additional 276 shares in the last quarter.

Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) traded down 0.392% during trading on Thursday, hitting $95.295. The stock had a trading volume of 34,894 shares. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 8.986 and a beta of 1.23. Ligand Pharmaceuticals Inc. has a 12-month low of $82.06 and a 12-month high of $139.79. The stock’s 50-day moving average is $107.16 and its 200-day moving average is $116.86.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. The business had revenue of $19.50 million for the quarter, compared to analysts’ expectations of $18.12 million. Ligand Pharmaceuticals had a return on equity of 11.64% and a net margin of 263.14%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.81 earnings per share. On average, equities research analysts expect that Ligand Pharmaceuticals Inc. will post $3.44 EPS for the current year.

A number of brokerages have weighed in on LGND. Roth Capital reaffirmed a “buy” rating and set a $147.00 target price on shares of Ligand Pharmaceuticals in a research report on Saturday, July 9th. CJS Securities decreased their target price on Ligand Pharmaceuticals from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, September 28th. Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $135.00 target price for the company in a research report on Tuesday, August 9th. Vetr raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 target price for the company in a research report on Wednesday, August 10th. Finally, Deutsche Bank AG downgraded Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and lifted their price target for the company from $104.00 to $110.00 in a report on Friday, August 5th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $139.25.

In other news, Director John W. Kozarich sold 1,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $137.57, for a total value of $137,570.00. Following the sale, the director now directly owns 41,783 shares in the company, valued at $5,748,087.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John L. Higgins sold 3,000 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $117.34, for a total value of $352,020.00. Following the completion of the sale, the chief executive officer now owns 122,664 shares in the company, valued at $14,393,393.76. The disclosure for this sale can be found here. 14.70% of the stock is owned by insiders.

About Ligand Pharmaceuticals

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 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.

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