Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 79.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,022 shares of the biotechnology company's stock after purchasing an additional 6,206 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Ligand Pharmaceuticals worth $1,403,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LGND. Innealta Capital LLC bought a new position in shares of Ligand Pharmaceuticals during the 2nd quarter worth approximately $31,000. Rothschild Investment LLC acquired a new position in shares of Ligand Pharmaceuticals during the second quarter worth $34,000. Headlands Technologies LLC lifted its holdings in shares of 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 last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ligand Pharmaceuticals by 23.3% in 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. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Ligand Pharmaceuticals during the 2nd quarter worth $67,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ligand Pharmaceuticals

In other news, insider Andrew Reardon sold 1,500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $106.39, for a total transaction of $159,585.00. Following the completion of the transaction, the insider now directly owns 22,534 shares of the company's stock, valued at $2,397,392.26. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Matthew E. Korenberg sold 9,772 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $101.22, for a total transaction of $989,121.84. Following the completion of the transaction, the chief operating officer now owns 50,777 shares of the company's stock, valued at approximately $5,139,647.94. This represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,822 shares of company stock worth $2,133,658 over the last three months. Company insiders own 5.90% of the company's stock.

Ligand Pharmaceuticals Trading Up 3.1 %

Shares of LGND stock traded up $3.71 during trading hours on Tuesday, hitting $124.33. The company's stock had a trading volume of 182,785 shares, compared to its average volume of 136,582. The stock has a market cap of $2.35 billion, a PE ratio of 48.59 and a beta of 0.99. Ligand Pharmaceuticals Incorporated has a 12-month low of $57.00 and a 12-month high of $129.90. The company has a 50 day moving average of $108.61 and a 200 day moving average of $98.90.

Analyst Ratings Changes

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

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.