Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) CFO Sells $575,150.00 in Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total value of $575,150.00. Following the completion of the sale, the chief financial officer now directly owns 18,879 shares of the company's stock, valued at approximately $2,171,651.37. The trade was a 20.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Octavio Espinoza also recently made the following trade(s):

• On Monday, December 23rd, Octavio Espinoza sold 2,104 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $116.37, for a total transaction of $244,842.48.

Ligand Pharmaceuticals Price Performance

NASDAQ LGND traded down $5.53 on Monday, reaching $109.30. The stock had a trading volume of 130,643 shares, compared to its average volume of 124,249. The company has a market cap of $2.10 billion, a P/E ratio of 43.55 and a beta of 1.12. The firm has a fifty day moving average of $114.37 and a two-hundred day moving average of $111.68. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.72 and a 1-year high of $129.90.

Institutional Investors Weigh In On Ligand Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning boosted its position in shares of Ligand Pharmaceuticals by 4.0% during the 3rd quarter. Creative Planning now owns 2,896 shares of the biotechnology company's stock worth $290,000 after acquiring an additional 111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 valued at $64,000 after purchasing an additional 125 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Ligand Pharmaceuticals by 3.7% in the 3rd quarter. Amalgamated Bank now owns 5,349 shares of the biotechnology company's stock valued at $535,000 after purchasing an additional 191 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Ligand Pharmaceuticals by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 93,208 shares of the biotechnology company's stock valued at $9,329,000 after purchasing an additional 4,439 shares during the last quarter. Finally, Portside Wealth Group LLC raised its holdings in shares of Ligand Pharmaceuticals by 13.9% during the 3rd quarter. Portside Wealth Group LLC now owns 3,100 shares of the biotechnology company's stock worth $310,000 after buying an additional 378 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

LGND has been the topic of several research analyst reports. Barclays upped their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. HC Wainwright restated a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Benchmark reaffirmed a "buy" rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Finally, Royal Bank of Canada upped their price objective on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average 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.