Hantz Financial Services Inc. Makes New Investment in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Hantz Financial Services Inc. purchased a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,827 shares of the biotechnology company's stock, valued at approximately $839,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in shares of Ligand Pharmaceuticals by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,761 shares of the biotechnology company's stock worth $738,000 after purchasing an additional 407 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Ligand Pharmaceuticals by 10.3% during the third quarter. Handelsbanken Fonder AB now owns 5,358 shares of the biotechnology company's stock worth $536,000 after buying an additional 500 shares during the last quarter. Kings Path Partners LLC increased its holdings in shares of Ligand Pharmaceuticals by 20.1% during the third quarter. Kings Path Partners LLC now owns 8,260 shares of the biotechnology company's stock worth $827,000 after buying an additional 1,380 shares in the last quarter. Woodstock Corp raised its stake in shares of Ligand Pharmaceuticals by 0.3% in the third quarter. Woodstock Corp now owns 29,211 shares of the biotechnology company's stock valued at $2,924,000 after acquiring an additional 100 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Ligand Pharmaceuticals by 4.0% in the 3rd quarter. Creative Planning now owns 2,896 shares of the biotechnology company's stock worth $290,000 after acquiring an additional 111 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Stock Performance

Ligand Pharmaceuticals stock traded up $2.50 during trading hours on Tuesday, reaching $117.26. 43,809 shares of the company's stock traded hands, compared to its average volume of 85,355. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 46.72 and a beta of 1.04. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $67.72 and a fifty-two week high of $129.90. The firm's 50 day moving average is $114.87 and its 200-day moving average is $109.38.

Analyst Ratings Changes

LGND has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Barclays upped their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Oppenheimer increased their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. HC Wainwright reaffirmed a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $147.00.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, 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 transaction of $244,842.48. Following the transaction, the chief financial officer now owns 20,647 shares in the company, valued at approximately $2,402,691.39. This trade represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $297,501.90. Following the transaction, the director now owns 29,515 shares of the company's stock, valued at $3,649,529.75. The trade was a 7.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Ligand Pharmaceuticals Company 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.