Isthmus Partners LLC Has $3.86 Million Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Isthmus Partners LLC lessened its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 20.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,554 shares of the biotechnology company's stock after selling 9,622 shares during the quarter. Isthmus Partners LLC owned about 0.20% of Ligand Pharmaceuticals worth $3,859,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Woodstock Corp increased 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 buying an additional 100 shares in the last quarter. Creative Planning increased its position in Ligand Pharmaceuticals by 4.0% in the third quarter. Creative Planning now owns 2,896 shares of the biotechnology company's stock worth $290,000 after purchasing an additional 111 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 during the last quarter. Headlands Technologies LLC lifted its position in Ligand Pharmaceuticals by 21.7% during the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company's stock valued at $64,000 after purchasing an additional 135 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Ligand Pharmaceuticals by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 4,708 shares of the biotechnology company's stock valued at $397,000 after purchasing an additional 156 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Ligand Pharmaceuticals Trading Down 0.9 %

Shares of LGND stock traded down $1.08 during trading hours on Friday, hitting $121.47. 72,061 shares of the company were exchanged, compared to its average volume of 136,096. Ligand Pharmaceuticals Incorporated has a 52 week low of $57.00 and a 52 week high of $129.90. The business has a 50 day moving average of $109.73 and a two-hundred day moving average of $99.49. The company has a market capitalization of $2.30 billion, a PE ratio of 48.39 and a beta of 0.99.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, COO Matthew E. Korenberg sold 6,275 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $104.10, for a total transaction of $653,227.50. Following the completion of the transaction, the chief operating officer now directly owns 50,777 shares in the company, valued at $5,285,885.70. This represents a 11.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew Reardon sold 2,000 shares of Ligand Pharmaceuticals stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $99.60, for a total value of $199,200.00. Following the completion of the sale, the insider now directly owns 22,534 shares in the company, valued at approximately $2,244,386.40. This represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,322 shares of company stock valued at $1,974,073. 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.