Virtu Financial LLC Takes $338,000 Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Virtu Financial LLC acquired a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,155 shares of the biotechnology company’s stock, valued at approximately $338,000.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp raised its position in shares of Ligand Pharmaceuticals by 2.7% during the third quarter. State Street Corp now owns 707,414 shares of the biotechnology company’s stock worth $70,805,000 after purchasing an additional 18,642 shares during the period. Congress Asset Management Co. raised its holdings in Ligand Pharmaceuticals by 2.9% during the 4th quarter. Congress Asset Management Co. now owns 621,482 shares of the biotechnology company’s stock worth $66,592,000 after buying an additional 17,444 shares during the period. Chicago Capital LLC boosted its holdings in shares of Ligand Pharmaceuticals by 1.1% in the fourth quarter. Chicago Capital LLC now owns 551,588 shares of the biotechnology company’s stock valued at $59,103,000 after buying an additional 5,767 shares during the period. Geode Capital Management LLC increased its position in shares of Ligand Pharmaceuticals by 5.5% during the third quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company’s stock worth $42,874,000 after acquiring an additional 22,495 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Ligand Pharmaceuticals by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,419 shares of the biotechnology company’s stock worth $18,260,000 after acquiring an additional 6,495 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Up 1.5 %

LGND stock opened at $109.70 on Friday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 43.71 and a beta of 1.12. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90. The business has a 50 day moving average price of $114.28 and a two-hundred day moving average price of $111.97.

Analyst Ratings Changes

LGND has been the subject of a number of research analyst reports. Barclays upped their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Royal Bank of Canada boosted their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. StockNews.com raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. One investment 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 currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insider Activity

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 18,879 shares in the company, valued at $2,171,651.37. This trade represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.90% of the stock is currently owned by insiders.

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.