Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Bought by Burney Co.

Burney Co. grew its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 21.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,520 shares of the biotechnology company’s stock after buying an additional 2,399 shares during the quarter. Burney Co.’s holdings in Ligand Pharmaceuticals were worth $1,449,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Ligand Pharmaceuticals by 23.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 125 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at approximately $67,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter valued at $180,000. MML Investors Services LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 3rd quarter worth $210,000. Finally, OLD National Bancorp IN acquired a new position in shares of Ligand Pharmaceuticals during the third quarter worth $228,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total value of $297,501.90. Following the transaction, the director now directly owns 29,515 shares in the company, valued at approximately $3,649,529.75. This trade represents a 7.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 20,647 shares of the company’s stock, valued at $2,402,691.39. This trade represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals Stock Up 0.7 %

LGND opened at $111.08 on Friday. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 44.26 and a beta of 1.05. Ligand Pharmaceuticals Incorporated has a 52 week low of $67.53 and a 52 week high of $129.90. The business’s 50 day moving average is $115.30 and its two-hundred day moving average is $107.01.

Wall Street Analyst Weigh In

LGND has been the topic of a number of analyst reports. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note 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 note on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Royal Bank of Canada raised their price objective on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Barclays upped their target price 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 has a consensus rating of “Buy” and an average target price 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.