Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) CFO Octavio Espinoza Sells 2,104 Shares

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) CFO Octavio Espinoza sold 2,104 shares of Ligand Pharmaceuticals 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 transaction, the chief financial officer now owns 20,647 shares of the company's stock, valued at $2,402,691.39. This represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ligand Pharmaceuticals Stock Performance

Shares of NASDAQ LGND traded up $0.87 during mid-day trading on Thursday, hitting $114.25. 144,557 shares of the stock traded hands, compared to its average volume of 136,005. The stock has a fifty day moving average price of $116.15 and a 200-day moving average price of $104.07. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 45.52 and a beta of 1.01. Ligand Pharmaceuticals Incorporated has a 52 week low of $67.53 and a 52 week high of $129.90.

Institutional Trading of Ligand Pharmaceuticals

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on LGND. Benchmark reaffirmed a "buy" rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday. Barclays raised their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Royal Bank of Canada boosted their price target on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. HC Wainwright restated a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Finally, Oppenheimer raised their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of "Buy" and a consensus price target of $147.00.

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.

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