BTC Capital Management Inc. Sells 131 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

BTC Capital Management Inc. reduced its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,304 shares of the biotechnology company’s stock after selling 131 shares during the period. BTC Capital Management Inc.’s holdings in Ligand Pharmaceuticals were worth $354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Ligand Pharmaceuticals by 23.3% during the 3rd 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 during the last quarter. KBC Group NV lifted its stake in shares of Ligand Pharmaceuticals by 49.7% in the fourth quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock worth $97,000 after buying an additional 300 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ligand Pharmaceuticals during the fourth quarter valued at approximately $172,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Ligand Pharmaceuticals during the third quarter valued at approximately $180,000. Finally, MML Investors Services LLC purchased a new position in Ligand Pharmaceuticals in the 3rd quarter worth approximately $210,000. 91.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on LGND shares. Barclays increased their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Benchmark reissued a “buy” rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Royal Bank of Canada raised their price target 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. Finally, Oppenheimer boosted 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $147.00.

Ligand Pharmaceuticals Stock Down 1.8 %

NASDAQ LGND opened at $116.55 on Friday. The company has a 50-day moving average price of $115.13 and a 200-day moving average price of $109.02. Ligand Pharmaceuticals Incorporated has a 52 week low of $67.72 and a 52 week high of $129.90. The firm has a market capitalization of $2.20 billion, a P/E ratio of 46.43 and a beta of 1.05.

Insider Activity at Ligand Pharmaceuticals

In other news, Director John L. Lamattina sold 2,406 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the transaction, the director now directly owns 29,515 shares of the company’s stock, valued at $3,649,529.75. The trade was a 7.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Octavio Espinoza sold 2,104 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total transaction of $244,842.48. Following the transaction, the chief financial officer now directly owns 20,647 shares in the company, valued at $2,402,691.39. This represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Ligand Pharmaceuticals Company 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.