SG Americas Securities LLC Purchases New Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

SG Americas Securities LLC acquired a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,607 shares of the biotechnology company’s stock, valued at approximately $172,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LGND. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ligand Pharmaceuticals by 23.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 125 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Ligand Pharmaceuticals in the 3rd quarter worth about $180,000. MML Investors Services LLC purchased a new stake in Ligand Pharmaceuticals during the 3rd quarter valued at about $210,000. OLD National Bancorp IN bought a new stake in Ligand Pharmaceuticals during the 3rd quarter valued at about $228,000. Finally, CWC Advisors LLC. purchased a new position in Ligand Pharmaceuticals in the third quarter worth about $265,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Price Performance

Shares of LGND stock opened at $115.19 on Monday. The company has a market cap of $2.18 billion, a P/E ratio of 45.89 and a beta of 1.04. The stock’s 50-day moving average is $114.54 and its 200 day moving average is $109.68. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.72 and a 1-year high of $129.90.

Insider Activity

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total value of $244,842.48. Following the sale, the chief financial officer now directly owns 20,647 shares of the company’s stock, valued at approximately $2,402,691.39. This represents a 9.25 % 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 this link. Also, Director John L. Lamattina sold 2,406 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following 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 position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on LGND shares. Royal Bank of Canada increased their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Benchmark reaffirmed a “buy” rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Barclays boosted their target price 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. Finally, Oppenheimer raised their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Ligand Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $147.00.

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.