Oregon Public Employees Retirement Fund Has $476,000 Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Oregon Public Employees Retirement Fund raised its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,442 shares of the biotechnology company’s stock after purchasing an additional 132 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Ligand Pharmaceuticals were worth $476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LGND. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ligand Pharmaceuticals by 23.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 125 shares during the period. KBC Group NV raised its stake in shares of Ligand Pharmaceuticals by 49.7% in the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 300 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 4th quarter valued at about $172,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter valued at about $180,000. Finally, Supplemental Annuity Collective Trust of NJ acquired a new stake in shares of Ligand Pharmaceuticals in the 4th quarter valued at about $204,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In other news, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total value of $244,842.48. Following the transaction, the chief financial officer now owns 20,647 shares of the company’s stock, valued at approximately $2,402,691.39. This represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is owned by company insiders.

Ligand Pharmaceuticals Stock Up 5.7 %

Shares of NASDAQ LGND opened at $122.23 on Monday. The business’s 50 day moving average price is $114.18 and its two-hundred day moving average price is $111.29. The company has a market cap of $2.31 billion, a PE ratio of 48.70 and a beta of 1.04. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Oppenheimer raised their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada raised their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Benchmark restated a “buy” rating and issued a $135.00 price objective on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Barclays raised their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Ligand Pharmaceuticals currently has an average rating of “Buy” and an average price target of $147.00.

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.