Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,858 shares of the biotechnology company’s stock after acquiring an additional 500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ligand Pharmaceuticals were worth $628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LGND. Mirae Asset Global Investments Co. Ltd. grew its position in Ligand Pharmaceuticals by 23.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 125 shares during the last quarter. KBC Group NV grew its position 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 last quarter. SG Americas Securities LLC bought a new position in Ligand Pharmaceuticals in the 4th quarter worth about $172,000. Wilmington Savings Fund Society FSB bought a new position in Ligand Pharmaceuticals in the 3rd quarter worth about $180,000. Finally, Supplemental Annuity Collective Trust of NJ bought a new position in Ligand Pharmaceuticals in the 4th quarter worth about $204,000. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Price Performance

LGND stock opened at $122.23 on Friday. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90. The firm has a market cap of $2.31 billion, a PE ratio of 48.70 and a beta of 1.04. The firm has a 50 day simple moving average of $114.18 and a 200 day simple moving average of $111.22.

Analyst Upgrades and Downgrades

LGND has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Barclays increased their price objective on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Royal Bank of Canada increased their price objective on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Finally, Oppenheimer increased their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $147.00.

Insider Activity at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total value of $244,842.48. Following the completion of the sale, the chief financial officer now owns 20,647 shares in the company, valued at approximately $2,402,691.39. This represents a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is 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.