State of New Jersey Common Pension Fund D Makes New $2.01 Million Investment in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

State of New Jersey Common Pension Fund D purchased a new stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,776 shares of the biotechnology company’s stock, valued at approximately $2,012,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Ligand Pharmaceuticals by 23.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 125 shares during the period. KBC Group NV raised its position 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 acquiring an additional 300 shares during the period. SG Americas Securities LLC bought a new position in Ligand Pharmaceuticals during the 4th quarter worth approximately $172,000. Wilmington Savings Fund Society FSB acquired a new position in Ligand Pharmaceuticals during the third quarter valued at approximately $180,000. Finally, Supplemental Annuity Collective Trust of NJ bought a new stake in Ligand Pharmaceuticals in the fourth quarter valued at approximately $204,000. 91.28% of the stock is currently owned by institutional investors.

Ligand Pharmaceuticals Trading Down 1.2 %

LGND stock opened at $120.56 on Monday. The stock has a market cap of $2.28 billion, a PE ratio of 48.03 and a beta of 1.04. The stock has a 50-day moving average price of $114.13 and a two-hundred day moving average price of $110.68. Ligand Pharmaceuticals Incorporated has a 1 year low of $67.72 and a 1 year high of $129.90.

Analysts Set New Price Targets

LGND has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Oppenheimer boosted their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Barclays raised their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada lifted 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $147.00.

Insider Buying and Selling

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following the sale, the director now directly owns 29,515 shares in the company, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Octavio Espinoza sold 2,104 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $116.37, for a total transaction of $244,842.48. Following the sale, the chief financial officer now directly owns 20,647 shares in the company, valued at $2,402,691.39. This trade represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

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.