UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 6,031 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 13.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,838 shares of the biotechnology company's stock after selling 6,031 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.21% of Ligand Pharmaceuticals worth $3,987,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LGND. Fisher Asset Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 12.4% in the 3rd quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company's stock worth $5,963,000 after acquiring an additional 6,555 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Ligand Pharmaceuticals by 16.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 115,480 shares of the biotechnology company's stock valued at $11,558,000 after acquiring an additional 16,446 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Ligand Pharmaceuticals by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 163,924 shares of the biotechnology company's stock worth $16,407,000 after buying an additional 8,584 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Ligand Pharmaceuticals by 7.2% in the 2nd quarter. William Blair Investment Management LLC now owns 202,842 shares of the biotechnology company's stock valued at $17,091,000 after purchasing an additional 13,595 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in Ligand Pharmaceuticals in the second quarter worth $608,000. Institutional investors own 91.28% of the company's stock.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, COO Matthew E. Korenberg sold 9,772 shares of Ligand Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief operating officer now owns 50,777 shares of the company's stock, valued at $5,139,647.94. The trade was a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Octavio Espinoza sold 1,275 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $103.94, for a total transaction of $132,523.50. Following the completion of the transaction, the chief financial officer now owns 24,610 shares of the company's stock, valued at approximately $2,557,963.40. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,728 shares of company stock worth $2,271,575 in the last three months. Corporate insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LGND. Barclays boosted their target price on shares of Ligand Pharmaceuticals from $125.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Benchmark lifted their target price on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a "buy" rating in a report on Friday, November 8th. Oppenheimer raised their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. HC Wainwright reissued a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday. Finally, Royal Bank of Canada raised their price objective on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an "outperform" rating in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $145.33.

Ligand Pharmaceuticals Trading Up 3.0 %

NASDAQ LGND traded up $3.40 during trading hours on Friday, hitting $116.91. 107,184 shares of the company's stock traded hands, compared to its average volume of 134,892. Ligand Pharmaceuticals Incorporated has a 52 week low of $65.84 and a 52 week high of $129.90. The firm has a market capitalization of $2.21 billion, a P/E ratio of 45.22 and a beta of 1.01. The business's fifty day moving average price is $113.76 and its two-hundred day moving average price is $101.88.

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.