Chicago Capital LLC Grows Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Chicago Capital LLC boosted its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 551,588 shares of the biotechnology company’s stock after buying an additional 5,767 shares during the quarter. Ligand Pharmaceuticals makes up 1.6% of Chicago Capital LLC’s investment portfolio, making the stock its 27th largest holding. Chicago Capital LLC’s holdings in Ligand Pharmaceuticals were worth $59,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 increased its position in shares of Ligand Pharmaceuticals by 49.7% during the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 300 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 4th quarter valued at $172,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ligand Pharmaceuticals during the 3rd quarter valued at $180,000. Finally, MML Investors Services LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 3rd quarter valued at $210,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of the firm’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 owns 29,515 shares in the company, valued at $3,649,529.75. This trade represents a 7.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Octavio Espinoza sold 2,104 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were 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 directly owns 20,647 shares in the company, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on LGND. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Barclays increased their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Oppenheimer increased their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada increased their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $147.00.

Ligand Pharmaceuticals Stock Down 1.8 %

Shares of NASDAQ LGND opened at $116.55 on Monday. Ligand Pharmaceuticals Incorporated has a 52 week low of $67.72 and a 52 week high of $129.90. The business has a 50-day simple moving average of $115.13 and a two-hundred day simple moving average of $109.14. The company has a market cap of $2.20 billion, a P/E ratio of 46.43 and a beta of 1.04.

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.