Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Bought by Burney Co.

Burney Co. lifted its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 21.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,520 shares of the biotechnology company's stock after purchasing an additional 2,399 shares during the quarter. Burney Co. owned about 0.07% of Ligand Pharmaceuticals worth $1,449,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. raised its stake in shares of Ligand Pharmaceuticals by 16.4% in the second quarter. American Century Companies Inc. now owns 29,167 shares of the biotechnology company's stock valued at $2,458,000 after acquiring an additional 4,104 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Ligand Pharmaceuticals by 47.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 79,612 shares of the biotechnology company's stock worth $6,708,000 after purchasing an additional 25,717 shares during the period. Dimensional Fund Advisors LP raised its position in Ligand Pharmaceuticals by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company's stock valued at $59,707,000 after purchasing an additional 44,543 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $67,000. Finally, Sei Investments Co. grew its position in shares of Ligand Pharmaceuticals by 34.1% during the second quarter. Sei Investments Co. now owns 48,065 shares of the biotechnology company's stock worth $4,050,000 after buying an additional 12,224 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on LGND shares. Royal Bank of Canada raised their target price on shares of 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 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Oppenheimer increased their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a report on Friday, November 8th. HC Wainwright restated a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Finally, Barclays upped their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $147.00.

Ligand Pharmaceuticals Stock Up 0.7 %

LGND traded up $0.81 during trading on Friday, hitting $111.89. 80,765 shares of the stock were exchanged, compared to its average volume of 94,642. The firm has a market capitalization of $2.11 billion, a P/E ratio of 44.58 and a beta of 1.05. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.72 and a 1-year high of $129.90. The stock has a fifty day moving average price of $115.12 and a two-hundred day moving average price of $107.20.

Insider Activity

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the transaction, the director now owns 29,515 shares in the company, valued at approximately $3,649,529.75. This represents a 7.54 % decrease in their position. The sale was disclosed in a 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 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 transaction, the chief financial officer now directly 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. Corporate insiders own 5.90% of the company's stock.

Ligand Pharmaceuticals Company 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.