Court Place Advisors LLC Sells 7,700 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Court Place Advisors LLC lessened its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 57.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,783 shares of the biotechnology company's stock after selling 7,700 shares during the quarter. Court Place Advisors LLC's holdings in Ligand Pharmaceuticals were worth $620,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 worth $64,000 after purchasing an additional 125 shares in the last quarter. KBC Group NV boosted 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 worth $97,000 after buying an additional 300 shares during the period. SG Americas Securities LLC bought a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth about $172,000. Wilmington Savings Fund Society FSB acquired a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at approximately $180,000. Finally, MML Investors Services LLC bought a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at approximately $210,000. Institutional investors own 91.28% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $116.37, for a total transaction of $244,842.48. Following the sale, the chief financial officer now directly owns 20,647 shares in the company, valued at $2,402,691.39. This represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Lamattina sold 2,406 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the sale, the director now owns 29,515 shares in the company, valued at $3,649,529.75. This represents a 7.54 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Ligand Pharmaceuticals Trading Down 1.8 %

Shares of NASDAQ:LGND traded down $2.09 during trading on Friday, reaching $116.55. 68,027 shares of the stock were exchanged, compared to its average volume of 88,856. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90. The stock has a 50-day moving average price of $115.18 and a 200-day moving average price of $108.88. The firm has a market cap of $2.20 billion, a PE ratio of 46.43 and a beta of 1.05.

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.