BNP Paribas Financial Markets Sells 1,586 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

BNP Paribas Financial Markets reduced its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 27.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,156 shares of the biotechnology company’s stock after selling 1,586 shares during the period. BNP Paribas Financial Markets’ holdings in Ligand Pharmaceuticals were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of LGND. Woodstock Corp grew its position in Ligand Pharmaceuticals by 0.3% during the 3rd quarter. Woodstock Corp now owns 29,211 shares of the biotechnology company’s stock worth $2,924,000 after acquiring an additional 100 shares during the last quarter. Creative Planning increased its holdings in Ligand Pharmaceuticals by 4.0% during the 3rd quarter. Creative Planning now owns 2,896 shares of the biotechnology company’s stock worth $290,000 after purchasing an additional 111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Ligand Pharmaceuticals by 23.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 125 shares in the last quarter. Headlands Technologies LLC grew its holdings in shares of Ligand Pharmaceuticals by 21.7% in the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 135 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Ligand Pharmaceuticals by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 4,708 shares of the biotechnology company’s stock valued at $397,000 after acquiring an additional 156 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Transactions at Ligand Pharmaceuticals

In related news, insider Andrew Reardon sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $99.60, for a total value 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 trade represents a 8.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Lamattina sold 2,406 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the transaction, the director now directly owns 29,515 shares of the company’s stock, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,728 shares of company stock worth $2,271,575 in the last quarter. Insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals Stock Up 3.0 %

Shares of LGND stock opened at $116.91 on Friday. The company has a 50 day moving average of $114.00 and a 200-day moving average of $102.20. Ligand Pharmaceuticals Incorporated has a 12-month low of $65.84 and a 12-month high of $129.90. The firm has a market cap of $2.21 billion, a P/E ratio of 46.58 and a beta of 1.01.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. 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 research note on Wednesday. Oppenheimer lifted their price target on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Benchmark lifted their price target on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Barclays lifted their price objective 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. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $145.33.

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.