Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director Sells $297,501.90 in Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director John L. Lamattina sold 2,406 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the transaction, the director now owns 29,515 shares in the company, valued at approximately $3,649,529.75. This represents a 7.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ligand Pharmaceuticals Trading Up 1.0 %

NASDAQ LGND traded up $1.23 during trading hours on Monday, hitting $122.70. 83,356 shares of the company’s stock traded hands, compared to its average volume of 135,869. Ligand Pharmaceuticals Incorporated has a 52 week low of $58.97 and a 52 week high of $129.90. The firm has a market capitalization of $2.32 billion, a P/E ratio of 48.57 and a beta of 0.99. The business’s fifty day moving average price is $110.11 and its two-hundred day moving average price is $99.95.

Analyst Ratings Changes

LGND has been the subject of a number of recent analyst reports. Oppenheimer boosted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. 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 lifted their price objective on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Benchmark upped their target price on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $157.00 price target on shares of Ligand Pharmaceuticals in a research note on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Ligand Pharmaceuticals presently has an average rating of “Buy” and an average price target of $144.83.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in Ligand Pharmaceuticals during the second quarter valued at about $31,000. Rothschild Investment LLC purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth approximately $34,000. Headlands Technologies LLC raised its stake in Ligand Pharmaceuticals by 21.7% during the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 135 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 valued at $64,000 after purchasing an additional 125 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Ligand Pharmaceuticals in the second quarter worth approximately $67,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

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.