Future Fund LLC purchased a new stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,280 shares of the biotechnology company’s stock, valued at approximately $1,755,000.
Other large investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its position in Ligand Pharmaceuticals by 86.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 69 shares in the last quarter. USA Financial Formulas bought a new position in Ligand Pharmaceuticals in the 4th quarter valued at about $43,000. Smartleaf Asset Management LLC lifted its position in Ligand Pharmaceuticals by 31.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 65 shares in the last quarter. JPL Wealth Management LLC bought a new position in Ligand Pharmaceuticals in the 3rd quarter valued at about $52,000. Finally, IFP Advisors Inc lifted its position in Ligand Pharmaceuticals by 1,040.0% in the 4th quarter. IFP Advisors Inc now owns 342 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 312 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.
Ligand Pharmaceuticals Trading Down 1.2%
NASDAQ:LGND opened at $231.96 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 20.95 and a current ratio of 21.28. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. Ligand Pharmaceuticals Incorporated has a 52 week low of $98.89 and a 52 week high of $247.38. The firm has a 50-day moving average price of $217.67 and a two-hundred day moving average price of $204.15.
Insider Activity at Ligand Pharmaceuticals
In other news, insider Andrew Reardon sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $231.31, for a total transaction of $1,156,550.00. Following the completion of the sale, the insider owned 41,382 shares in the company, valued at $9,572,070.42. This trade represents a 10.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen L. Sabba sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $207.87, for a total transaction of $207,870.00. Following the sale, the director owned 32,793 shares of the company’s stock, valued at approximately $6,816,680.91. The trade was a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 37,949 shares of company stock worth $8,014,056. 7.00% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on LGND. Bank of America began coverage on shares of Ligand Pharmaceuticals in a research report on Wednesday, March 11th. They issued a “buy” rating and a $244.00 price target on the stock. Royal Bank Of Canada increased their price objective on shares of Ligand Pharmaceuticals from $252.00 to $262.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. HC Wainwright increased their price objective on shares of Ligand Pharmaceuticals from $243.00 to $289.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Oppenheimer increased their price objective on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Finally, Weiss Ratings lowered shares of Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $257.71.
View Our Latest Report on Ligand Pharmaceuticals
Ligand Pharmaceuticals Profile
Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.
The company’s product offerings center around several core platforms.
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