Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Sold by Private Capital Management LLC

Private Capital Management LLC lowered its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,880 shares of the biotechnology company’s stock after selling 625 shares during the quarter. Ligand Pharmaceuticals accounts for approximately 2.7% of Private Capital Management LLC’s holdings, making the stock its 24th biggest holding. Private Capital Management LLC owned about 0.71% of Ligand Pharmaceuticals worth $13,400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Ligand Pharmaceuticals by 20.0% in the third quarter. Barclays PLC now owns 43,456 shares of the biotechnology company’s stock worth $4,349,000 after acquiring an additional 7,247 shares in the last quarter. Geode Capital Management LLC increased its holdings in Ligand Pharmaceuticals by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company’s stock worth $42,874,000 after purchasing an additional 22,495 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Ligand Pharmaceuticals by 12.4% in the 3rd quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company’s stock valued at $5,963,000 after purchasing an additional 6,555 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Ligand Pharmaceuticals by 1.4% during the 4th quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock valued at $771,000 after buying an additional 96 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Ligand Pharmaceuticals by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 163,924 shares of the biotechnology company’s stock worth $16,407,000 after buying an additional 8,584 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LGND. Barclays upped their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Oppenheimer increased their price target on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada boosted 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. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Finally, HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $147.00.

Insider Transactions at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 2,104 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total transaction 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. The trade was a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals Stock Up 0.6 %

LGND opened at $115.67 on Friday. The company’s 50-day moving average price is $114.03 and its 200 day moving average price is $111.01. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $67.72 and a fifty-two week high of $129.90. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 46.08 and a beta of 1.04.

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.