Illinois Municipal Retirement Fund Purchases 851 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Illinois Municipal Retirement Fund lifted its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 9.5% in the 4th quarter, HoldingsChannel reports. The fund owned 9,823 shares of the biotechnology company’s stock after purchasing an additional 851 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Ligand Pharmaceuticals were worth $1,053,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $64,000 after acquiring an additional 125 shares in the last quarter. KBC Group NV grew its stake in Ligand Pharmaceuticals by 49.7% during the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock worth $97,000 after buying an additional 300 shares during the last quarter. SG Americas Securities LLC purchased a new position in Ligand Pharmaceuticals during the 4th quarter worth $172,000. Wilmington Savings Fund Society FSB purchased a new position in Ligand Pharmaceuticals during the 3rd quarter worth $180,000. Finally, Supplemental Annuity Collective Trust of NJ purchased a new position in Ligand Pharmaceuticals during the 4th quarter worth $204,000. 91.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $116.37, for a total value of $244,842.48. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on LGND. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Royal Bank of Canada boosted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Oppenheimer boosted their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Barclays boosted 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $147.00.

Ligand Pharmaceuticals Stock Up 5.7 %

Shares of LGND stock opened at $122.23 on Monday. The stock 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 52-week low of $67.72 and a 52-week high of $129.90. The business has a 50-day simple moving average of $114.18 and a 200-day simple moving average of $111.29.

About Ligand Pharmaceuticals

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.