3,900 Shares in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,900 shares of the biotechnology company’s stock, valued at approximately $418,000.

Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Ligand Pharmaceuticals by 119.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 221 shares during the last quarter. US Bancorp DE boosted its stake in shares of Ligand Pharmaceuticals by 14.8% during the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock valued at $81,000 after purchasing an additional 98 shares during the period. KBC Group NV grew its holdings in shares of Ligand Pharmaceuticals by 49.7% in the fourth quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 300 shares during the last quarter. SG Americas Securities LLC bought a new stake in Ligand Pharmaceuticals during the 4th quarter valued at $172,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Ligand Pharmaceuticals during the 3rd quarter valued at $180,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Trading Down 3.4 %

LGND opened at $99.57 on Friday. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90. The stock has a 50-day moving average of $113.11 and a 200 day moving average of $112.03. The firm has a market cap of $1.92 billion, a P/E ratio of 39.67 and a beta of 1.12.

Insider Transactions at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the transaction, the chief financial officer now directly owns 18,879 shares of the company’s stock, valued at $2,171,651.37. This trade represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LGND shares. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Royal Bank of Canada boosted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Barclays increased their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Benchmark reissued a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Finally, StockNews.com raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of “Moderate Buy” and an average 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.