Royce & Associates LP Sells 3,193 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Royce & Associates LP decreased its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 52.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,897 shares of the biotechnology company’s stock after selling 3,193 shares during the quarter. Royce & Associates LP’s holdings in Ligand Pharmaceuticals were worth $310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in LGND. Victory Capital Management Inc. grew its stake in shares of Ligand Pharmaceuticals by 79.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,022 shares of the biotechnology company’s stock worth $1,403,000 after acquiring an additional 6,206 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Ligand Pharmaceuticals by 2.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 15,084 shares of the biotechnology company’s stock worth $1,510,000 after acquiring an additional 329 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Ligand Pharmaceuticals by 55.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,963 shares of the biotechnology company’s stock worth $2,699,000 after acquiring an additional 9,667 shares during the period. Intech Investment Management LLC bought a new position in Ligand Pharmaceuticals in the 3rd quarter worth about $329,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Ligand Pharmaceuticals by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 163,924 shares of the biotechnology company’s stock worth $16,407,000 after purchasing an additional 8,584 shares during the period. Institutional investors own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LGND. StockNews.com upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada raised their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Barclays raised their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Benchmark restated a “buy” rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.00.

Insider Transactions at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total value of $575,150.00. Following the completion of the sale, the chief financial officer now owns 18,879 shares in the company, valued at $2,171,651.37. The trade was a 20.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by insiders.

Ligand Pharmaceuticals Trading Down 1.2 %

Shares of NASDAQ LGND opened at $108.15 on Friday. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 43.09 and a beta of 1.12. The business has a 50-day moving average of $114.21 and a 200-day moving average of $111.75.

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.