Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,600 shares of the biotechnology company's stock after selling 20,654 shares during the period. Russell Investments Group Ltd. owned 0.51% of Ligand Pharmaceuticals worth $10,244,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC raised its position in shares of Ligand Pharmaceuticals by 550.5% during the 3rd quarter. FMR LLC now owns 12,749 shares of the biotechnology company's stock worth $1,276,000 after acquiring an additional 10,789 shares in the last quarter. HighTower Advisors LLC raised its holdings in Ligand Pharmaceuticals by 5.5% during the third quarter. HighTower Advisors LLC now owns 5,142 shares of the biotechnology company's stock worth $518,000 after purchasing an additional 266 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Ligand Pharmaceuticals by 16.7% during the 3rd quarter. Stifel Financial Corp now owns 15,949 shares of the biotechnology company's stock worth $1,596,000 after buying an additional 2,288 shares during the last quarter. State Street Corp boosted its holdings in shares of Ligand Pharmaceuticals by 2.7% in the 3rd quarter. State Street Corp now owns 707,414 shares of the biotechnology company's stock valued at $70,805,000 after buying an additional 18,642 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at $210,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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Ligand Pharmaceuticals Trading Down 2.3 %

Shares of LGND traded down $2.42 during trading hours on Wednesday, reaching $104.38. The company had a trading volume of 55,612 shares, compared to its average volume of 121,805. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 41.59 and a beta of 1.07. Ligand Pharmaceuticals Incorporated has a 12-month low of $67.72 and a 12-month high of $129.90. The firm has a 50 day simple moving average of $110.37 and a 200-day simple moving average of $112.09.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LGND shares. Benchmark reaffirmed a "buy" rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. StockNews.com upgraded shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Stifel Nicolaus started coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, April 10th. They issued a "buy" rating and a $143.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $146.43.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total value of $575,150.00. Following the sale, the chief financial officer now owns 18,879 shares in the company, valued at $2,171,651.37. This represents a 20.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by corporate 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.