Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Stock Holdings Lifted by HighTower Advisors LLC

HighTower Advisors LLC lifted its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,142 shares of the biotechnology company’s stock after acquiring an additional 266 shares during the quarter. HighTower Advisors LLC’s holdings in Ligand Pharmaceuticals were worth $518,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LGND. Innealta Capital LLC purchased a new stake in shares of Ligand Pharmaceuticals in the second quarter valued at $31,000. Rothschild Investment LLC purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth about $34,000. Headlands Technologies LLC boosted its position 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 during the period. Mirae Asset Global Investments Co. Ltd. grew its stake 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 valued at $64,000 after acquiring an additional 125 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, insider Andrew Reardon sold 2,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $99.60, for a total transaction of $199,200.00. Following the completion of the sale, the insider now owns 22,534 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Also, Director John L. Lamattina sold 2,406 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following the completion of the transaction, the director now owns 29,515 shares of the company’s stock, valued at $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. In the last three months, insiders have sold 14,178 shares of company stock worth $1,485,824. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on LGND shares. Barclays raised their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Oppenheimer increased their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Benchmark boosted their target price on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada raised their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $147.00.

Ligand Pharmaceuticals Trading Up 0.6 %

Shares of NASDAQ:LGND opened at $114.64 on Friday. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.53 and a 1-year high of $129.90. The firm has a market capitalization of $2.17 billion, a PE ratio of 45.67 and a beta of 1.01. The business’s 50 day moving average is $115.24 and its 200-day moving average is $103.00.

About Ligand Pharmaceuticals

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.