HighTower Advisors LLC Raises Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

HighTower Advisors LLC increased its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,542 shares of the biotechnology company’s stock after acquiring an additional 400 shares during the quarter. HighTower Advisors LLC’s holdings in Ligand Pharmaceuticals were worth $594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in Ligand Pharmaceuticals by 119.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock worth $43,000 after buying an additional 221 shares in the last quarter. US Bancorp DE boosted its stake in shares of Ligand Pharmaceuticals by 14.8% in the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock worth $81,000 after acquiring an additional 98 shares during the period. KBC Group NV grew its position 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 worth $97,000 after purchasing an additional 300 shares in the last quarter. SG Americas Securities LLC bought a new stake in Ligand Pharmaceuticals during the 4th quarter valued at approximately $172,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Ligand Pharmaceuticals in the 3rd quarter worth approximately $180,000. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

LGND has been the subject of a number of research analyst reports. StockNews.com raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Royal Bank of Canada boosted their price target on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Barclays raised their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ligand Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Ligand Pharmaceuticals Stock Down 1.9 %

Ligand Pharmaceuticals stock opened at $107.62 on Friday. The company’s 50-day moving average price is $114.20 and its 200-day moving average price is $112.07. The company has a market cap of $2.07 billion, a PE ratio of 42.88 and a beta of 1.12. 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.