Royce & Associates LP lessened its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 52.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,897 shares of the biotechnology company's stock after selling 3,193 shares during the period. Royce & Associates LP's holdings in Ligand Pharmaceuticals were worth $310,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in LGND. Loomis Sayles & Co. L P raised its stake in shares of Ligand Pharmaceuticals by 44.3% in the third quarter. Loomis Sayles & Co. L P now owns 372,779 shares of the biotechnology company's stock worth $37,312,000 after purchasing an additional 114,436 shares during the last quarter. Franklin Resources Inc. grew its holdings in Ligand Pharmaceuticals by 503.5% during the third quarter. Franklin Resources Inc. now owns 94,659 shares of the biotechnology company's stock worth $9,793,000 after buying an additional 78,973 shares in the last quarter. Fisher Asset Management LLC raised its position in Ligand Pharmaceuticals by 68.9% in the 4th quarter. Fisher Asset Management LLC now owns 100,638 shares of the biotechnology company's stock valued at $10,783,000 after buying an additional 41,064 shares during the last quarter. Edgestream Partners L.P. bought a new position in Ligand Pharmaceuticals during the 3rd quarter valued at $3,410,000. Finally, Geode Capital Management LLC boosted its holdings in Ligand Pharmaceuticals by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock worth $42,874,000 after acquiring an additional 22,495 shares during the last quarter. Institutional investors own 91.28% of the company's stock.
Insider Activity at Ligand Pharmaceuticals
In related news, CFO Octavio Espinoza sold 5,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the sale, the chief financial officer now directly owns 18,879 shares in the company, valued at approximately $2,171,651.37. The trade was a 20.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
LGND has been the subject of several analyst reports. HC Wainwright reiterated a "buy" rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Barclays boosted their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. Benchmark restated a "buy" rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Royal Bank of Canada boosted their target price on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.
Check Out Our Latest Report on Ligand Pharmaceuticals
Ligand Pharmaceuticals Price Performance
NASDAQ:LGND traded down $0.05 on Tuesday, reaching $111.62. 22,193 shares of the company's stock were exchanged, compared to its average volume of 120,487. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 44.61 and a beta of 1.12. The stock has a fifty day simple moving average of $114.33 and a 200-day simple moving average of $111.95. Ligand Pharmaceuticals Incorporated has a 52 week low of $67.72 and a 52 week high of $129.90.
Ligand Pharmaceuticals Company 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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