Raymond James Financial Inc. acquired a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,830 shares of the biotechnology company's stock, valued at approximately $2,339,000. Raymond James Financial Inc. owned about 0.12% of Ligand Pharmaceuticals at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its holdings in Ligand Pharmaceuticals by 119.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock worth $43,000 after acquiring an additional 221 shares in the last quarter. US Bancorp DE raised its stake in shares of Ligand Pharmaceuticals by 14.8% during the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock worth $81,000 after purchasing an additional 98 shares in the last quarter. KBC Group NV raised its stake in shares of Ligand Pharmaceuticals by 49.7% during the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company's stock worth $97,000 after purchasing an additional 300 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 4th quarter valued at approximately $172,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Ligand Pharmaceuticals in the third quarter valued at $180,000. Institutional investors own 91.28% of the company's stock.
Insider Buying and Selling
In related news, CFO Octavio Espinoza sold 5,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the transaction, the chief financial officer now directly owns 18,879 shares of the company's stock, valued at approximately $2,171,651.37. This trade represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several analysts have issued reports on LGND shares. HC Wainwright reaffirmed a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Benchmark reaffirmed a "buy" rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Barclays lifted their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. Royal Bank of Canada boosted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Finally, StockNews.com raised Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $147.00.
View Our Latest Stock Analysis on Ligand Pharmaceuticals
Ligand Pharmaceuticals Trading Up 3.7 %
LGND stock traded up $3.91 during mid-day trading on Wednesday, hitting $108.73. 129,981 shares of the company were exchanged, compared to its average volume of 123,406. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.72 and a 1-year high of $129.90. The stock has a market capitalization of $2.09 billion, a PE ratio of 43.32 and a beta of 1.12. The business has a 50 day simple moving average of $113.67 and a 200-day simple moving average of $112.13.
Ligand Pharmaceuticals Profile
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Free Report)
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.
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