Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Acquired by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE raised its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,335 shares of the biotechnology company's stock after purchasing an additional 4,014 shares during the quarter. Congress Wealth Management LLC DE owned 0.50% of Ligand Pharmaceuticals worth $10,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LGND. Smartleaf Asset Management LLC raised its holdings in Ligand Pharmaceuticals by 119.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock valued at $43,000 after acquiring an additional 221 shares in the last quarter. US Bancorp DE raised its stake in shares of Ligand Pharmaceuticals by 14.8% in the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock valued at $81,000 after purchasing an additional 98 shares in the last quarter. KBC Group NV raised its stake in shares of Ligand Pharmaceuticals by 49.7% in the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company's stock valued at $97,000 after purchasing an additional 300 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth about $172,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Ligand Pharmaceuticals in the third quarter worth about $180,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, CFO Octavio Espinoza sold 5,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the transaction, the chief financial officer now owns 18,879 shares in the company, valued at approximately $2,171,651.37. This trade represents a 20.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Barclays boosted their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, December 16th. StockNews.com upgraded shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, March 18th. HC Wainwright reiterated a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Finally, Benchmark restated a "buy" rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $147.00.

Ligand Pharmaceuticals Stock Down 1.9 %

Ligand Pharmaceuticals stock traded down $2.08 during trading hours on Friday, hitting $107.62. 68,270 shares of the company traded hands, compared to its average volume of 123,590. The firm's 50-day simple moving average is $114.20 and its two-hundred day simple moving average is $112.00. The firm has a market cap of $2.07 billion, a P/E ratio of 42.88 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.

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.