Raymond James Financial Inc. Purchases Shares of 21,830 Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Raymond James Financial Inc. acquired a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 21,830 shares of the biotechnology company’s stock, valued at approximately $2,339,000.

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

Insider Buying and Selling

In other news, CFO Octavio Espinoza sold 5,000 shares of the company’s stock in a transaction that occurred 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 represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by company insiders.

Ligand Pharmaceuticals Trading Down 1.9 %

NASDAQ:LGND opened at $107.62 on Friday. The firm has a market cap of $2.07 billion, a P/E ratio of 42.88 and a beta of 1.12. The stock has a 50 day moving average of $114.20 and a two-hundred day moving average of $112.07. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90.

Analyst Ratings Changes

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

About Ligand Pharmaceuticals

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.