Congress Wealth Management LLC DE Purchases 4,014 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Congress Wealth Management LLC DE lifted its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,335 shares of the biotechnology company’s stock after buying an additional 4,014 shares during the period. Congress Wealth Management LLC DE owned about 0.50% of Ligand Pharmaceuticals worth $10,108,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Ligand Pharmaceuticals by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company’s stock worth $223,475,000 after acquiring an additional 115,005 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Ligand Pharmaceuticals during the 4th quarter worth approximately $418,000. Sei Investments Co. raised its holdings in Ligand Pharmaceuticals by 2.5% during the 4th quarter. Sei Investments Co. now owns 27,482 shares of the biotechnology company’s stock worth $2,945,000 after buying an additional 677 shares during the period. American Century Companies Inc. lifted its stake in Ligand Pharmaceuticals by 6.8% in the fourth quarter. American Century Companies Inc. now owns 37,237 shares of the biotechnology company’s stock valued at $3,990,000 after buying an additional 2,381 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at approximately $338,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity at Ligand Pharmaceuticals

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

Wall Street Analysts Forecast Growth

LGND has been the topic of a number of research analyst reports. Barclays raised their price objective 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. StockNews.com upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th. 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. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Ligand Pharmaceuticals Stock Up 3.3 %

NASDAQ:LGND opened at $111.67 on Tuesday. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 44.49 and a beta of 1.12. The stock’s 50 day moving average price is $114.33 and its two-hundred day moving average price is $111.95.

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.