Nordea Investment Management AB Purchases 2,970 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Nordea Investment Management AB grew its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,572 shares of the biotechnology company’s stock after buying an additional 2,970 shares during the period. Nordea Investment Management AB’s holdings in Ligand Pharmaceuticals were worth $6,250,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LGND. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ligand Pharmaceuticals by 23.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 125 shares in the last quarter. Headlands Technologies LLC grew its position in Ligand Pharmaceuticals by 21.7% during the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 135 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in Ligand Pharmaceuticals during the 2nd quarter valued at about $67,000. Wilmington Savings Fund Society FSB bought a new position in shares of Ligand Pharmaceuticals in the third quarter worth approximately $180,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at approximately $159,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction on Monday, December 23rd. The stock was 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 filing with the SEC, which is accessible through the SEC website. 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 transaction, the director now directly owns 29,515 shares of the company’s stock, valued at approximately $3,649,529.75. This trade represents a 7.54 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals Stock Performance

NASDAQ LGND opened at $110.58 on Friday. The business’s fifty day moving average is $116.03 and its 200 day moving average is $106.05. The company has a market capitalization of $2.09 billion, a PE ratio of 44.06 and a beta of 1.05. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $67.53 and a fifty-two week high of $129.90.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada upped their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Oppenheimer boosted their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Finally, Barclays boosted 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $147.00.

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.