Piedmont Investment Advisors LLC purchased a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,116 shares of the biotechnology company’s stock, valued at approximately $500,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Strs Ohio lifted its stake in shares of Ligand Pharmaceuticals by 225.0% in the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock valued at $157,000 after buying an additional 900 shares during the period. First Mercantile Trust Co. lifted its stake in shares of Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 20 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Ligand Pharmaceuticals in the second quarter valued at about $203,000. Riverhead Capital Management LLC lifted its stake in shares of Ligand Pharmaceuticals by 99.8% in the second quarter. Riverhead Capital Management LLC now owns 1,798 shares of the biotechnology company’s stock valued at $218,000 after buying an additional 898 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Ligand Pharmaceuticals by 9.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,799 shares of the biotechnology company’s stock valued at $218,000 after buying an additional 154 shares during the period.

In other Ligand Pharmaceuticals news, insider Matthew W. Foehr sold 6,100 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $127.51, for a total value of $777,811.00. Following the completion of the sale, the insider now owns 101,020 shares of the company’s stock, valued at approximately $12,881,060.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Charles S. Berkman sold 18,625 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $126.96, for a total transaction of $2,364,630.00. Following the completion of the sale, the vice president now directly owns 24,423 shares of the company’s stock, valued at approximately $3,100,744.08. The disclosure for this sale can be found here. Insiders have sold a total of 37,208 shares of company stock valued at $4,733,796 in the last ninety days. 14.70% of the stock is currently owned by insiders.

TRADEMARK VIOLATION NOTICE: This news story was reported by Daily Political and is the property of of Daily Political. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/10/20/piedmont-investment-advisors-llc-takes-500000-position-in-ligand-pharmaceuticals-incorporated-lgnd.html.

Several equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. HC Wainwright set a $157.00 target price on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. TheStreet upgraded shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $144.20.

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ LGND) opened at 143.35 on Friday. The company has a 50 day moving average of $137.48 and a 200 day moving average of $121.72. Ligand Pharmaceuticals Incorporated has a 1-year low of $87.50 and a 1-year high of $144.34. The company has a market cap of $3.02 billion, a PE ratio of 349.63 and a beta of 1.01.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Monday, August 7th. The biotechnology company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.25 by $0.42. The business had revenue of $28.00 million during the quarter, compared to the consensus estimate of $24.40 million. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. Ligand Pharmaceuticals’s revenue was up 43.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities analysts expect that Ligand Pharmaceuticals Incorporated will post $2.95 earnings per share for the current fiscal year.

Ligand Pharmaceuticals Company Profile

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 is involved in the development and licensing of biopharmaceutical assets. 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.

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

Receive News & Ratings for Ligand Pharmaceuticals Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.