Stephens Investment Management Group LLC Has $65.66 Million Stock Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Stephens Investment Management Group LLC reduced its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 612,782 shares of the biotechnology company's stock after selling 5,914 shares during the quarter. Stephens Investment Management Group LLC owned about 3.24% of Ligand Pharmaceuticals worth $65,660,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in LGND. Barclays PLC grew its holdings in shares of Ligand Pharmaceuticals by 20.0% in the 3rd quarter. Barclays PLC now owns 43,456 shares of the biotechnology company's stock worth $4,349,000 after acquiring an additional 7,247 shares during the last quarter. Geode Capital Management LLC lifted its stake in Ligand Pharmaceuticals by 5.5% in the third quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock valued at $42,874,000 after acquiring an additional 22,495 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Ligand Pharmaceuticals by 12.4% in the third quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company's stock worth $5,963,000 after purchasing an additional 6,555 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Ligand Pharmaceuticals by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 163,924 shares of the biotechnology company's stock valued at $16,407,000 after acquiring an additional 8,584 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Ligand Pharmaceuticals by 5.5% in the third quarter. HighTower Advisors LLC now owns 5,142 shares of the biotechnology company's stock worth $518,000 after buying an additional 266 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Trading Down 1.2 %

Shares of LGND stock traded down $1.35 on Tuesday, hitting $112.77. The stock had a trading volume of 59,683 shares, compared to its average volume of 81,299. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90. The firm has a market cap of $2.13 billion, a P/E ratio of 44.93 and a beta of 1.04. The company has a fifty day moving average price of $114.37 and a two-hundred day moving average price of $109.74.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. HC Wainwright restated a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Royal Bank of Canada raised their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Barclays raised their price objective 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. Oppenheimer increased their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Finally, Benchmark reaffirmed a "buy" rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ligand Pharmaceuticals currently has an average rating of "Buy" and an average price target of $147.00.

Insider Activity at Ligand Pharmaceuticals

In other news, Director John L. Lamattina sold 2,406 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following the sale, the director now directly owns 29,515 shares of the company's stock, valued at approximately $3,649,529.75. This represents a 7.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Octavio Espinoza sold 2,104 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total value of $244,842.48. Following the transaction, the chief financial officer now owns 20,647 shares of the company's stock, valued at $2,402,691.39. This represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

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.