Stephens Investment Management Group LLC Sells 5,914 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Stephens Investment Management Group LLC lessened its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 612,782 shares of the biotechnology company’s stock after selling 5,914 shares during the quarter. Stephens Investment Management Group LLC owned about 3.24% of Ligand Pharmaceuticals worth $65,660,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Loomis Sayles & Co. L P grew its holdings in shares of Ligand Pharmaceuticals by 44.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 372,779 shares of the biotechnology company’s stock valued at $37,312,000 after buying an additional 114,436 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Ligand Pharmaceuticals by 503.5% during the 3rd quarter. Franklin Resources Inc. now owns 94,659 shares of the biotechnology company’s stock valued at $9,793,000 after purchasing an additional 78,973 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at approximately $3,410,000. Chicago Capital LLC increased its stake in Ligand Pharmaceuticals by 6.0% during the 3rd quarter. Chicago Capital LLC now owns 545,821 shares of the biotechnology company’s stock worth $54,631,000 after purchasing an additional 30,875 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in Ligand Pharmaceuticals in the third quarter valued at approximately $2,481,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Stock Performance

Shares of LGND opened at $115.19 on Friday. The firm has a market cap of $2.18 billion, a P/E ratio of 45.89 and a beta of 1.04. Ligand Pharmaceuticals Incorporated has a 52 week low of $67.72 and a 52 week high of $129.90. The firm’s 50-day simple moving average is $114.54 and its 200 day simple moving average is $109.64.

Insider Activity

In other news, Director John L. Lamattina sold 2,406 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following the completion of the sale, the director now owns 29,515 shares of the company’s stock, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Octavio Espinoza sold 2,104 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was 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 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.

Wall Street Analyst Weigh In

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

About Ligand Pharmaceuticals

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.