Arizona State Retirement System trimmed its holdings in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 50.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,255 shares of the biotechnology company’s stock after selling 15,359 shares during the period. Arizona State Retirement System’s holdings in Ligand Pharmaceuticals were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. First Hawaiian Bank raised its position in Ligand Pharmaceuticals by 22.7% during the fourth quarter. First Hawaiian Bank now owns 584 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 108 shares during the period. Court Place Advisors LLC increased its position in Ligand Pharmaceuticals by 1.7% in the 4th quarter. Court Place Advisors LLC now owns 15,650 shares of the biotechnology company’s stock worth $2,124,000 after purchasing an additional 260 shares during the last quarter. Bank of Montreal Can increased its position in Ligand Pharmaceuticals by 3.5% in the 3rd quarter. Bank of Montreal Can now owns 9,672 shares of the biotechnology company’s stock worth $2,655,000 after purchasing an additional 324 shares during the last quarter. Virtu Financial LLC increased its position in Ligand Pharmaceuticals by 27.1% in the 4th quarter. Virtu Financial LLC now owns 1,565 shares of the biotechnology company’s stock worth $212,000 after purchasing an additional 334 shares during the last quarter. Finally, Aperio Group LLC increased its position in Ligand Pharmaceuticals by 1.7% in the 3rd quarter. Aperio Group LLC now owns 24,245 shares of the biotechnology company’s stock worth $6,655,000 after purchasing an additional 397 shares during the last quarter.

Several research analysts have weighed in on LGND shares. BidaskClub lowered Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. TheStreet lowered Ligand Pharmaceuticals from a “b-” rating to a “c+” rating in a research report on Wednesday, January 2nd. HC Wainwright set a $280.00 target price on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, October 18th. ValuEngine lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Finally, Roth Capital raised Ligand Pharmaceuticals from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $250.00 to $195.00 in a research report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $216.57.

Shares of LGND stock opened at $120.44 on Thursday. The company has a current ratio of 10.59, a quick ratio of 10.50 and a debt-to-equity ratio of 1.09. Ligand Pharmaceuticals Inc. has a fifty-two week low of $98.56 and a fifty-two week high of $278.62. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.17 and a beta of 1.40.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, February 7th. The biotechnology company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.48. The company had revenue of $59.59 million for the quarter, compared to analyst estimates of $52.58 million. Ligand Pharmaceuticals had a return on equity of 26.00% and a net margin of 57.00%. The business’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.31 EPS. Equities research analysts expect that Ligand Pharmaceuticals Inc. will post 4.88 earnings per share for the current fiscal year.

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Ligand Pharmaceuticals Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

Further Reading: Why investors pay attention to retained earnings

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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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