Chicago Capital LLC Acquires 5,767 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Chicago Capital LLC grew its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 551,588 shares of the biotechnology company's stock after acquiring an additional 5,767 shares during the quarter. Ligand Pharmaceuticals comprises approximately 1.6% of Chicago Capital LLC's portfolio, making the stock its 27th biggest position. Chicago Capital LLC owned approximately 2.92% of Ligand Pharmaceuticals worth $59,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Ligand Pharmaceuticals by 23.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company's stock valued at $64,000 after purchasing an additional 125 shares in the last quarter. KBC Group NV increased its position in shares of Ligand Pharmaceuticals by 49.7% during the fourth quarter. KBC Group NV now owns 904 shares of the biotechnology company's stock valued at $97,000 after acquiring an additional 300 shares in the last quarter. SG Americas Securities LLC purchased a new position in Ligand Pharmaceuticals in the 4th quarter worth approximately $172,000. Wilmington Savings Fund Society FSB bought a new position in Ligand Pharmaceuticals in the 3rd quarter valued at approximately $180,000. Finally, MML Investors Services LLC purchased a new stake in Ligand Pharmaceuticals during the 3rd quarter valued at $210,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Trading Up 0.5 %

LGND stock traded up $0.53 during midday trading on Thursday, reaching $117.84. 64,309 shares of the company's stock traded hands, compared to its average volume of 83,913. Ligand Pharmaceuticals Incorporated has a 52-week low of $67.72 and a 52-week high of $129.90. The stock has a market cap of $2.23 billion, a P/E ratio of 46.95 and a beta of 1.04. The stock's 50-day moving average is $114.67 and its 200 day moving average is $109.49.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of the business's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the sale, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $116.37, for a total value of $244,842.48. Following the completion of the transaction, the chief financial officer now directly owns 20,647 shares in the company, valued at $2,402,691.39. This trade represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.