3,290 Shares in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Bought by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,290 shares of the biotechnology company’s stock, valued at approximately $329,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LGND. Chicago Capital LLC boosted its holdings in Ligand Pharmaceuticals by 124.3% in the second quarter. Chicago Capital LLC now owns 514,946 shares of the biotechnology company’s stock worth $43,389,000 after acquiring an additional 285,350 shares in the last quarter. F M Investments LLC bought a new stake in Ligand Pharmaceuticals in the second quarter worth $11,350,000. Dimensional Fund Advisors LP boosted its holdings in Ligand Pharmaceuticals by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company’s stock worth $59,707,000 after acquiring an additional 44,543 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Ligand Pharmaceuticals by 47.7% in the second quarter. Envestnet Asset Management Inc. now owns 79,612 shares of the biotechnology company’s stock worth $6,708,000 after acquiring an additional 25,717 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in Ligand Pharmaceuticals in the third quarter worth $2,481,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Stock Performance

LGND stock opened at $119.93 on Wednesday. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $58.97 and a fifty-two week high of $129.90. The business’s 50-day moving average is $110.57 and its two-hundred day moving average is $100.22. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 47.78 and a beta of 1.01.

Insiders Place Their Bets

In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 2,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was 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 owns 22,534 shares in the company, valued at $2,244,386.40. This represents a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Lamattina sold 2,406 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total value of $297,501.90. Following the completion of the sale, the director now owns 29,515 shares of the company’s stock, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,728 shares of company stock worth $2,271,575 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.