Rice Hall James & Associates LLC Cuts Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Rice Hall James & Associates LLC decreased its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 304,925 shares of the biotechnology company’s stock after selling 7,954 shares during the period. Ligand Pharmaceuticals makes up approximately 1.8% of Rice Hall James & Associates LLC’s investment portfolio, making the stock its 13th biggest position. Rice Hall James & Associates LLC owned 1.61% of Ligand Pharmaceuticals worth $32,673,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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. KBC Group NV grew its position in shares of Ligand Pharmaceuticals by 49.7% during the fourth quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 300 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Ligand Pharmaceuticals during the fourth quarter valued at about $172,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Ligand Pharmaceuticals during the third quarter valued at about $180,000. Finally, Supplemental Annuity Collective Trust of NJ purchased a new position in Ligand Pharmaceuticals in the fourth quarter worth about $204,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Price Performance

Shares of NASDAQ LGND opened at $120.00 on Tuesday. The company has a market cap of $2.27 billion, a P/E ratio of 47.81 and a beta of 1.04. Ligand Pharmaceuticals Incorporated has a 1 year low of $67.72 and a 1 year high of $129.90. The firm has a 50-day simple moving average of $113.82 and a two-hundred day simple moving average of $110.01.

Insider Activity

In other news, 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 completion of the sale, the chief financial officer now owns 20,647 shares of the company’s stock, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Lamattina sold 2,406 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total transaction of $297,501.90. Following the sale, the director now directly owns 29,515 shares of the company’s stock, valued at $3,649,529.75. This 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.

Analysts Set New Price Targets

LGND has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Oppenheimer lifted their price target 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 reiterated a “buy” rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Barclays lifted their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada lifted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus 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.