Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Acquired by Atria Investments Inc

Atria Investments Inc grew its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,685 shares of the biotechnology company’s stock after purchasing an additional 279 shares during the period. Atria Investments Inc’s holdings in Ligand Pharmaceuticals were worth $469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Portside Wealth Group LLC lifted its position in Ligand Pharmaceuticals by 13.9% during the 3rd quarter. Portside Wealth Group LLC now owns 3,100 shares of the biotechnology company’s stock worth $310,000 after acquiring an additional 378 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Ligand Pharmaceuticals by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 93,208 shares of the biotechnology company’s stock valued at $9,329,000 after acquiring an additional 4,439 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Ligand Pharmaceuticals by 3.7% in the 3rd quarter. Amalgamated Bank now owns 5,349 shares of the biotechnology company’s stock valued at $535,000 after acquiring an additional 191 shares during the last quarter. Rice Hall James & Associates LLC grew its stake in Ligand Pharmaceuticals by 7.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 312,879 shares of the biotechnology company’s stock worth $31,316,000 after buying an additional 20,404 shares during the last quarter. Finally, Congress Asset Management Co. grew its stake in Ligand Pharmaceuticals by 3.0% during the 3rd quarter. Congress Asset Management Co. now owns 604,038 shares of the biotechnology company’s stock worth $60,458,000 after buying an additional 17,414 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Stock Down 0.2 %

LGND opened at $111.56 on Thursday. The firm has a market capitalization of $2.11 billion, a P/E ratio of 44.45 and a beta of 0.99. The stock’s 50 day moving average price is $107.71 and its two-hundred day moving average price is $97.90. Ligand Pharmaceuticals Incorporated has a 12-month low of $57.00 and a 12-month high of $129.90.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $157.00 price target on shares of Ligand Pharmaceuticals in a research report on Friday, November 8th. Royal Bank of Canada raised their price objective on Ligand Pharmaceuticals from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Barclays raised their price objective on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Oppenheimer raised their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Benchmark raised their price objective on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $144.83.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, COO Matthew E. Korenberg sold 9,772 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $101.22, for a total value of $989,121.84. Following the sale, the chief operating officer now owns 50,777 shares of the company’s stock, valued at $5,139,647.94. The trade was a 16.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Reardon sold 2,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $99.60, for a total value of $199,200.00. Following the completion of the sale, the insider now directly owns 22,534 shares in the company, valued at approximately $2,244,386.40. This represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,211 shares of company stock valued at $3,336,450 in the last 90 days. 5.90% of the stock is currently owned by insiders.

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.