Acuitas Investments LLC Sells 12,749 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Acuitas Investments LLC cut its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 31.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,512 shares of the biotechnology company’s stock after selling 12,749 shares during the quarter. Ligand Pharmaceuticals accounts for about 2.5% of Acuitas Investments LLC’s investment portfolio, making the stock its 19th largest holding. Acuitas Investments LLC owned approximately 0.15% of Ligand Pharmaceuticals worth $2,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LGND. Barclays PLC boosted its stake in shares of Ligand Pharmaceuticals by 20.0% during the third quarter. Barclays PLC now owns 43,456 shares of the biotechnology company’s stock valued at $4,349,000 after purchasing an additional 7,247 shares during the period. Geode Capital Management LLC raised its holdings in Ligand Pharmaceuticals by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company’s stock valued at $42,874,000 after buying an additional 22,495 shares during the last quarter. Fisher Asset Management LLC boosted its position in Ligand Pharmaceuticals by 12.4% during the 3rd quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company’s stock valued at $5,963,000 after buying an additional 6,555 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 acquiring an additional 8,584 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Ligand Pharmaceuticals by 5.5% in the third quarter. HighTower Advisors LLC now owns 5,142 shares of the biotechnology company’s stock valued at $518,000 after acquiring an additional 266 shares during the period. 91.28% of the stock is currently owned by institutional investors.

Ligand Pharmaceuticals Stock Up 5.3 %

LGND opened at $120.00 on Tuesday. The stock has a market cap of $2.27 billion, a PE ratio of 47.81 and a beta of 1.04. The business has a 50 day moving average of $113.82 and a 200-day moving average of $110.01. Ligand Pharmaceuticals Incorporated has a 52 week low of $67.72 and a 52 week high of $129.90.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LGND. Barclays increased their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Royal Bank of Canada increased their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Benchmark reissued a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Oppenheimer raised 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, HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $147.00.

Insider Buying and Selling

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of the firm’s 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 completion of the transaction, the director now owns 29,515 shares of the company’s stock, valued at approximately $3,649,529.75. This trade represents a 7.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Octavio Espinoza sold 2,104 shares of the business’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 completion of the sale, the chief financial officer now directly owns 20,647 shares in the company, valued at approximately $2,402,691.39. This represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is 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.