Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 55.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,963 shares of the biotechnology company's stock after purchasing an additional 9,667 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of Ligand Pharmaceuticals worth $2,699,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Ligand Pharmaceuticals in the second quarter valued at approximately $31,000. Rothschild Investment LLC acquired a new stake in Ligand Pharmaceuticals during the 2nd quarter valued at $34,000. Headlands Technologies LLC increased its position in Ligand Pharmaceuticals by 21.7% during the second quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company's stock worth $64,000 after buying an additional 135 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ligand Pharmaceuticals by 23.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company's stock worth $64,000 after acquiring an additional 125 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Ligand Pharmaceuticals in the second quarter valued at $67,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Oppenheimer boosted their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Benchmark boosted their price objective on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Royal Bank of Canada raised their target price on shares of Ligand Pharmaceuticals from $130.00 to $140.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. HC Wainwright reiterated a "buy" rating and issued a $157.00 price target on shares of Ligand Pharmaceuticals in a report on Friday, November 8th. Finally, Barclays raised their price objective on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ligand Pharmaceuticals has an average rating of "Buy" and a consensus target price of $144.83.

Ligand Pharmaceuticals Price Performance

LGND stock traded up $1.43 on Monday, hitting $120.62. 153,650 shares of the company were exchanged, compared to its average volume of 136,380. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 48.06 and a beta of 0.99. Ligand Pharmaceuticals Incorporated has a twelve month low of $57.00 and a twelve month high of $129.90. The business's fifty day moving average is $108.29 and its two-hundred day moving average is $98.66.

Insider Activity

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 1,275 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $103.94, for a total transaction of $132,523.50. Following the completion of the sale, the chief financial officer now owns 24,610 shares of the company's stock, valued at approximately $2,557,963.40. The trade was a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Reardon sold 1,500 shares of the firm's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $106.39, for a total value of $159,585.00. Following the completion of the transaction, the insider now owns 22,534 shares in the company, valued at approximately $2,397,392.26. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,822 shares of company stock valued at $2,133,658 in the last ninety days. Company insiders own 5.90% of the company's stock.

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.