Stifel Financial Corp Raises Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Stifel Financial Corp boosted its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 16.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,949 shares of the biotechnology company’s stock after acquiring an additional 2,288 shares during the period. Stifel Financial Corp owned about 0.08% of Ligand Pharmaceuticals worth $1,596,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC increased its position in Ligand Pharmaceuticals by 5.5% during 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 period. Erste Asset Management GmbH purchased a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at approximately $419,000. Edgestream Partners L.P. acquired a new position in Ligand Pharmaceuticals during the third quarter worth $3,410,000. Verition Fund Management LLC acquired a new stake in shares of Ligand Pharmaceuticals in the third quarter valued at about $597,000. Finally, Public Sector Pension Investment Board grew its holdings in shares of Ligand Pharmaceuticals by 4.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 38,747 shares of the biotechnology company’s stock worth $3,878,000 after acquiring an additional 1,500 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Trading Up 0.6 %

Shares of NASDAQ LGND opened at $114.64 on Friday. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 45.67 and a beta of 1.01. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.53 and a twelve month high of $129.90. The business has a 50 day simple moving average of $115.24 and a 200-day simple moving average of $103.00.

Insiders Place Their Bets

In other news, insider Andrew Reardon sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $99.60, for a total transaction of $199,200.00. Following the completion of the transaction, the insider now directly owns 22,534 shares of the company’s stock, valued at approximately $2,244,386.40. This represents a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Lamattina sold 2,406 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total value of $297,501.90. Following the completion of the sale, the director now directly owns 29,515 shares in the company, valued at approximately $3,649,529.75. This trade represents a 7.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,178 shares of company stock valued at $1,485,824 over the last 90 days. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LGND has been the subject of several recent research reports. Royal Bank of Canada raised their target price on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Barclays upped 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. Oppenheimer lifted their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Benchmark boosted their price target on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $147.00.

Ligand Pharmaceuticals Company 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.