Truist Financial Corp Lowers Stock Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Truist Financial Corp cut its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,496 shares of the biotechnology company’s stock after selling 149 shares during the quarter. Truist Financial Corp’s holdings in Ligand Pharmaceuticals were worth $267,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ligand Pharmaceuticals by 23.3% during 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. KBC Group NV lifted its holdings in shares of Ligand Pharmaceuticals by 49.7% during the fourth quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 300 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth approximately $172,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter worth approximately $180,000. Finally, Supplemental Annuity Collective Trust of NJ bought a new position in Ligand Pharmaceuticals during the 4th quarter valued at approximately $204,000. 91.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on LGND. Royal Bank of Canada boosted their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Barclays upped their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Oppenheimer lifted their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $147.00.

Ligand Pharmaceuticals Stock Performance

NASDAQ LGND opened at $115.41 on Thursday. Ligand Pharmaceuticals Incorporated has a one year low of $67.72 and a one year high of $129.90. The stock has a 50-day moving average of $114.19 and a 200 day moving average of $111.45. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 45.98 and a beta of 1.04.

Insider Transactions at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total transaction of $244,842.48. Following the transaction, the chief financial officer now directly owns 20,647 shares of the company’s stock, valued at $2,402,691.39. This represents a 9.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.90% of the company’s stock.

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.