Virtu Financial LLC Buys New Shares in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Virtu Financial LLC acquired a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,155 shares of the biotechnology company's stock, valued at approximately $338,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LGND. Franklin Resources Inc. raised its stake 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 acquiring an additional 78,973 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Ligand Pharmaceuticals by 68.9% in the 4th quarter. Fisher Asset Management LLC now owns 100,638 shares of the biotechnology company's stock worth $10,783,000 after acquiring an additional 41,064 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Ligand Pharmaceuticals during the third quarter worth $3,410,000. Geode Capital Management LLC raised its holdings in shares of Ligand Pharmaceuticals by 5.5% during 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 period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth $2,339,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the transaction, the chief financial officer now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company's stock.

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Ligand Pharmaceuticals Price Performance

Shares of NASDAQ LGND traded down $0.32 during mid-day trading on Tuesday, reaching $104.82. 97,782 shares of the company's stock traded hands, compared to its average volume of 123,377. The business has a 50-day simple moving average of $113.81 and a 200 day simple moving average of $112.15. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.72 and a 1-year high of $129.90. The stock has a market cap of $2.02 billion, a P/E ratio of 41.76 and a beta of 1.12.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. HC Wainwright reiterated a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. StockNews.com upgraded shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, March 18th. Royal Bank of Canada boosted 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. Benchmark reissued a "buy" rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Finally, Barclays boosted their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $147.00.

Ligand Pharmaceuticals 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.