Granite Investment Partners LLC Sells 2,463 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Granite Investment Partners LLC lessened its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,538 shares of the biotechnology company's stock after selling 2,463 shares during the quarter. Granite Investment Partners LLC owned 0.61% of Ligand Pharmaceuticals worth $12,380,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its stake in shares of Ligand Pharmaceuticals by 119.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 221 shares in the last quarter. Redwood Park Advisors LLC bought a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at approximately $48,000. Sterling Capital Management LLC boosted its holdings in shares of Ligand Pharmaceuticals by 825.4% in the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock worth $59,000 after acquiring an additional 487 shares in the last quarter. US Bancorp DE grew its position in Ligand Pharmaceuticals by 14.8% during the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock worth $81,000 after acquiring an additional 98 shares during the last quarter. Finally, KBC Group NV grew its position in Ligand Pharmaceuticals by 49.7% during the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company's stock worth $97,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Analyst Upgrades and Downgrades

LGND has been the topic of a number of recent analyst reports. StockNews.com raised Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Tuesday. Stifel Nicolaus assumed coverage on shares of Ligand Pharmaceuticals in a research report on Thursday, April 10th. They issued a "buy" rating and a $143.00 price objective for the company. Finally, Benchmark reissued a "buy" rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.43.

Ligand Pharmaceuticals Stock Up 0.3 %

NASDAQ LGND traded up $0.35 during trading hours on Friday, hitting $104.97. The company's stock had a trading volume of 105,130 shares, compared to its average volume of 121,363. The stock has a fifty day moving average of $109.97 and a 200 day moving average of $112.07. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90. The firm has a market capitalization of $2.02 billion, a P/E ratio of 41.82 and a beta of 1.07.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total value of $575,150.00. Following the transaction, the chief financial officer now owns 18,879 shares of the company's stock, valued at approximately $2,171,651.37. This represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is owned by corporate insiders.

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.