Lisanti Capital Growth LLC Makes New Investment in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Lisanti Capital Growth LLC purchased a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 24,785 shares of the biotechnology company's stock, valued at approximately $2,481,000. Lisanti Capital Growth LLC owned 0.14% of Ligand Pharmaceuticals as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Ligand Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,884,112 shares of the biotechnology company's stock valued at $137,729,000 after acquiring an additional 7,598 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Ligand Pharmaceuticals by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company's stock valued at $59,707,000 after purchasing an additional 44,543 shares during the period. Congress Asset Management Co. grew its position in shares of Ligand Pharmaceuticals by 3.0% in the third quarter. Congress Asset Management Co. now owns 604,038 shares of the biotechnology company's stock valued at $60,458,000 after purchasing an additional 17,414 shares during the period. Chicago Capital LLC raised its holdings in shares of Ligand Pharmaceuticals by 6.0% during the third quarter. Chicago Capital LLC now owns 545,821 shares of the biotechnology company's stock valued at $54,631,000 after acquiring an additional 30,875 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Ligand Pharmaceuticals by 7.0% in the 3rd quarter. Rice Hall James & Associates LLC now owns 312,879 shares of the biotechnology company's stock valued at $31,316,000 after buying an additional 20,404 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ligand Pharmaceuticals news, COO Matthew E. Korenberg sold 1,157 shares of the company's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $105.54, for a total transaction of $122,109.78. Following the completion of the transaction, the chief operating officer now owns 67,211 shares of the company's stock, valued at $7,093,448.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Matthew E. Korenberg sold 1,157 shares of the business's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $105.54, for a total value of $122,109.78. Following the completion of the transaction, the chief operating officer now directly owns 67,211 shares of the company's stock, valued at $7,093,448.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Matthew E. Korenberg sold 11,389 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $105.61, for a total transaction of $1,202,792.29. Following the transaction, the chief operating officer now directly owns 49,510 shares in the company, valued at approximately $5,228,751.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,368 shares of company stock worth $3,458,560. 5.90% of the stock is owned by corporate insiders.

Ligand Pharmaceuticals Stock Up 1.8 %

Shares of NASDAQ LGND traded up $2.22 during trading on Monday, hitting $123.47. The company had a trading volume of 209,237 shares, compared to its average volume of 136,809. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 48.31 and a beta of 0.99. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $55.02 and a fifty-two week high of $129.90. The stock has a fifty day simple moving average of $105.57 and a two-hundred day simple moving average of $95.57.

Wall Street Analyst Weigh In

A number of research firms have commented on LGND. HC Wainwright reaffirmed a "buy" rating and set a $157.00 target price on shares of Ligand Pharmaceuticals in a report on Friday. Benchmark lifted their price objective on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a "buy" rating in a research note on Friday. Barclays lifted their price target on shares of Ligand Pharmaceuticals from $125.00 to $150.00 and gave the company an "overweight" rating in a report on Friday. Royal Bank of Canada restated an "outperform" rating and issued a $130.00 price target on shares of Ligand Pharmaceuticals in a report on Wednesday, August 7th. Finally, Oppenheimer lifted their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a report on Friday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ligand Pharmaceuticals has a consensus rating of "Buy" and a consensus price target of $143.17.

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.