US Bancorp DE Acquires 98 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

US Bancorp DE grew its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 14.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 758 shares of the biotechnology company’s stock after buying an additional 98 shares during the quarter. US Bancorp DE’s holdings in Ligand Pharmaceuticals were worth $81,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LGND. KBC Group NV increased its stake in Ligand Pharmaceuticals by 49.7% in the 4th 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 period. SG Americas Securities LLC bought a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth approximately $172,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Ligand Pharmaceuticals in the third quarter worth $180,000. Supplemental Annuity Collective Trust of NJ bought a new stake in Ligand Pharmaceuticals during the 4th quarter valued at $204,000. Finally, MML Investors Services LLC purchased a new stake in Ligand Pharmaceuticals during the 3rd quarter valued at $210,000. 91.28% of the stock is owned by institutional investors.

Insider Transactions at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the transaction, the chief financial officer now owns 18,879 shares of the company’s stock, valued at $2,171,651.37. This trade represents a 20.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

LGND has been the subject of several recent analyst reports. StockNews.com raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada increased their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. HC Wainwright reissued 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 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Finally, Barclays boosted their price objective on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Ligand Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Ligand Pharmaceuticals Stock Up 3.5 %

Shares of LGND stock opened at $109.95 on Tuesday. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 43.80 and a beta of 1.12. The business’s fifty day moving average is $114.33 and its 200 day moving average is $111.77. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90.

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.