Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Sold by Acuitas Investments LLC

Acuitas Investments LLC lessened its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 31.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,512 shares of the biotechnology company's stock after selling 12,749 shares during the quarter. Ligand Pharmaceuticals makes up about 2.5% of Acuitas Investments LLC's investment portfolio, making the stock its 19th biggest position. Acuitas Investments LLC owned 0.15% of Ligand Pharmaceuticals worth $2,948,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LGND. Mirae Asset Global Investments Co. Ltd. lifted its position in Ligand Pharmaceuticals by 23.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company's stock worth $64,000 after buying an additional 125 shares during the period. KBC Group NV lifted its holdings in shares of Ligand Pharmaceuticals by 49.7% during the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company's stock worth $97,000 after acquiring an additional 300 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth approximately $172,000. Wilmington Savings Fund Society FSB purchased a new stake in Ligand Pharmaceuticals in the third quarter valued at approximately $180,000. Finally, Supplemental Annuity Collective Trust of NJ acquired a new position in Ligand Pharmaceuticals during the fourth quarter worth approximately $204,000. Institutional investors and hedge funds own 91.28% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of the business's 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 transaction, the director now owns 29,515 shares in the company, valued at $3,649,529.75. The trade was a 7.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Octavio Espinoza sold 2,104 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $116.37, for a total value of $244,842.48. Following the sale, the chief financial officer now owns 20,647 shares of the company's stock, valued at $2,402,691.39. This 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.

Ligand Pharmaceuticals Stock Performance

Shares of LGND stock traded down $1.45 during trading hours on Friday, reaching $120.56. The company had a trading volume of 136,713 shares, compared to its average volume of 87,456. The company has a market capitalization of $2.28 billion, a P/E ratio of 48.03 and a beta of 1.04. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90. The stock's fifty day simple moving average is $114.13 and its 200 day simple moving average is $110.47.

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.