Court Place Advisors LLC maintained its position in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 20,749 shares of the biotechnology company’s stock at the end of the second quarter. Ligand Pharmaceuticals accounts for approximately 1.4% of Court Place Advisors LLC’s holdings, making the stock its 22nd largest position. Court Place Advisors LLC owned about 0.10% of Ligand Pharmaceuticals worth $2,475,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Creative Planning increased its position in Ligand Pharmaceuticals by 2.1% in the second quarter. Creative Planning now owns 10,199 shares of the biotechnology company’s stock valued at $1,216,000 after buying an additional 209 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Ligand Pharmaceuticals by 3.3% in the first quarter. Arizona State Retirement System now owns 9,275 shares of the biotechnology company’s stock worth $993,000 after buying an additional 300 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Ligand Pharmaceuticals by 5.0% in the second quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the biotechnology company’s stock worth $1,002,000 after buying an additional 400 shares in the last quarter. Willingdon Wealth Management increased its stake in shares of Ligand Pharmaceuticals by 8.5% in the second quarter. Willingdon Wealth Management now owns 8,498 shares of the biotechnology company’s stock worth $1,014,000 after buying an additional 666 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Ligand Pharmaceuticals by 20.6% in the first quarter. Legal & General Group Plc now owns 4,048 shares of the biotechnology company’s stock worth $433,000 after buying an additional 692 shares in the last quarter.

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) traded up 0.05% during midday trading on Monday, reaching $115.60. The company’s stock had a trading volume of 246,015 shares. The stock has a 50-day moving average price of $113.29 and a 200 day moving average price of $116.51. Ligand Pharmaceuticals Inc. has a 12 month low of $79.66 and a 12 month high of $139.79. The company has a market cap of $2.41 billion, a PE ratio of 10.90 and a beta of 1.27.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Thursday, August 4th. The biotechnology company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. Ligand Pharmaceuticals had a net margin of 263.14% and a return on equity of 11.64%. The firm had revenue of $19.50 million for the quarter, compared to analysts’ expectations of $18.12 million. During the same quarter last year, the firm earned $1.81 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts expect that Ligand Pharmaceuticals Inc. will post $3.45 earnings per share for the current fiscal year.

A number of equities research analysts recently issued reports on the company. Roth Capital reissued a “buy” rating and set a $149.00 price target on shares of Ligand Pharmaceuticals in a research report on Wednesday, September 7th. Deutsche Bank AG raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and reduced their price target for the stock from $110.00 to $105.00 in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Vetr raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 price target on the stock in a research report on Wednesday, August 10th. Finally, Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $135.00 price target on the stock in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $136.18.

In related news, Director John W. Kozarich sold 1,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $137.57, for a total value of $137,570.00. Following the sale, the director now owns 41,783 shares of the company’s stock, valued at approximately $5,748,087.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Kozarich sold 1,666 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $105.40, for a total transaction of $175,596.40. Following the completion of the sale, the director now directly owns 40,783 shares in the company, valued at approximately $4,298,528.20. The disclosure for this sale can be found here. 14.70% of the stock is currently owned by corporate 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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