Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 79.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,022 shares of the biotechnology company’s stock after acquiring an additional 6,206 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of Ligand Pharmaceuticals worth $1,403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at about $31,000. Rothschild Investment LLC purchased a new position in Ligand Pharmaceuticals in the second quarter worth approximately $34,000. Headlands Technologies LLC grew its holdings in Ligand Pharmaceuticals by 21.7% during the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 135 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at $67,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $106.39, for a total transaction of $159,585.00. Following the completion of the sale, the insider now directly owns 22,534 shares of the company’s stock, valued at approximately $2,397,392.26. This trade represents a 6.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Octavio Espinoza sold 1,275 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $103.94, for a total value of $132,523.50. Following the completion of the transaction, the chief financial officer now directly owns 24,610 shares in the company, valued at approximately $2,557,963.40. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,822 shares of company stock worth $2,133,658. 5.90% of the stock is owned by insiders.

Ligand Pharmaceuticals Stock Up 1.2 %

Shares of NASDAQ LGND opened at $120.62 on Tuesday. The business has a 50-day moving average price of $108.29 and a 200 day moving average price of $98.66. The stock has a market cap of $2.28 billion, a PE ratio of 48.06 and a beta of 0.99. Ligand Pharmaceuticals Incorporated has a 52-week low of $57.00 and a 52-week high of $129.90.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LGND. Royal Bank of Canada boosted their target price on shares of Ligand Pharmaceuticals from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Oppenheimer upped their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Benchmark increased their price objective on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 8th. HC Wainwright restated a “buy” rating and set a $157.00 target price on shares of Ligand Pharmaceuticals in a research note on Friday, November 8th. Finally, Barclays increased their price target on shares of Ligand Pharmaceuticals from $125.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ligand Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $144.83.

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.