Callan Family Office LLC acquired a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,438 shares of the biotechnology company's stock, valued at approximately $261,000.
A number of other institutional investors have also recently made changes to their positions in LGND. Loomis Sayles & Co. L P grew its position in shares of Ligand Pharmaceuticals by 44.3% during the third quarter. Loomis Sayles & Co. L P now owns 372,779 shares of the biotechnology company's stock valued at $37,312,000 after purchasing an additional 114,436 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Ligand Pharmaceuticals by 503.5% during the third quarter. Franklin Resources Inc. now owns 94,659 shares of the biotechnology company's stock valued at $9,793,000 after purchasing an additional 78,973 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 68.9% in the 4th quarter. Fisher Asset Management LLC now owns 100,638 shares of the biotechnology company's stock valued at $10,783,000 after acquiring an additional 41,064 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at about $3,410,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock valued at $42,874,000 after acquiring an additional 22,495 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.
Wall Street Analyst Weigh In
LGND has been the subject of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Royal Bank of Canada increased their price target 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. StockNews.com downgraded shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Monday. Benchmark reaffirmed a "buy" rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Finally, Barclays raised their price objective on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.
Read Our Latest Stock Report on Ligand Pharmaceuticals
Insider Transactions at Ligand Pharmaceuticals
In other news, CFO Octavio Espinoza sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the transaction, the chief financial officer now directly owns 18,879 shares of the company's stock, valued at approximately $2,171,651.37. This trade represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.90% of the company's stock.
Ligand Pharmaceuticals Price Performance
Shares of NASDAQ LGND opened at $105.79 on Wednesday. The company has a market cap of $2.04 billion, a P/E ratio of 42.15 and a beta of 1.12. Ligand Pharmaceuticals Incorporated has a 1 year low of $67.72 and a 1 year high of $129.90. The firm has a 50-day simple moving average of $114.42 and a two-hundred day simple moving average of $111.73.
Ligand Pharmaceuticals Profile
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Free Report)
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.
Further Reading
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