abrdn plc Sells 72,509 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

abrdn plc lowered its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 29.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 176,760 shares of the biotechnology company's stock after selling 72,509 shares during the quarter. abrdn plc owned 0.94% of Ligand Pharmaceuticals worth $18,940,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Barclays PLC increased its stake in Ligand Pharmaceuticals by 20.0% during the 3rd quarter. Barclays PLC now owns 43,456 shares of the biotechnology company's stock worth $4,349,000 after purchasing an additional 7,247 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ligand Pharmaceuticals by 5.5% during the third quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock worth $42,874,000 after acquiring an additional 22,495 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Ligand Pharmaceuticals by 12.4% during the third quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company's stock worth $5,963,000 after acquiring an additional 6,555 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 acquiring an additional 8,584 shares during the period. Finally, HighTower Advisors LLC lifted its position in Ligand Pharmaceuticals by 5.5% in the 3rd quarter. HighTower Advisors LLC now owns 5,142 shares of the biotechnology company's stock valued at $518,000 after acquiring an additional 266 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

Wall Street Analysts Forecast Growth

LGND has been the subject of a number of research reports. Benchmark reiterated a "buy" rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. HC Wainwright reissued a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Royal Bank of Canada upped their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Oppenheimer lifted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, Barclays increased their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $147.00.

Insiders Place Their Bets

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

Ligand Pharmaceuticals Stock Down 0.9 %

Shares of Ligand Pharmaceuticals stock opened at $114.12 on Tuesday. The stock has a market cap of $2.16 billion, a P/E ratio of 45.47 and a beta of 1.04. Ligand Pharmaceuticals Incorporated has a 12-month low of $67.72 and a 12-month high of $129.90. The business's 50 day moving average is $114.37 and its 200-day moving average is $109.74.

Ligand Pharmaceuticals Profile

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.