CenterBook Partners LP Trims Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

CenterBook Partners LP lessened its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 53.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,539 shares of the biotechnology company’s stock after selling 27,437 shares during the period. CenterBook Partners LP owned 0.12% of Ligand Pharmaceuticals worth $2,522,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LGND. Vanguard Group Inc. raised its stake in Ligand Pharmaceuticals by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company’s stock worth $223,475,000 after purchasing an additional 115,005 shares during the period. State Street Corp raised its position in shares of Ligand Pharmaceuticals by 2.7% during the 3rd quarter. State Street Corp now owns 707,414 shares of the biotechnology company’s stock valued at $70,805,000 after buying an additional 18,642 shares during the period. Congress Asset Management Co. raised its position in shares of Ligand Pharmaceuticals by 2.9% during the 4th quarter. Congress Asset Management Co. now owns 621,482 shares of the biotechnology company’s stock valued at $66,592,000 after buying an additional 17,444 shares during the period. Chicago Capital LLC lifted its holdings in 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 acquiring an additional 5,767 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Ligand Pharmaceuticals by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 438,441 shares of the biotechnology company’s stock worth $46,989,000 after acquiring an additional 10,171 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Price Performance

Shares of LGND opened at $103.85 on Thursday. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.72 and a 1-year high of $129.90. The stock has a market cap of $2.00 billion, a PE ratio of 41.37 and a beta of 1.07. The firm has a fifty day moving average price of $111.33 and a 200 day moving average price of $111.92.

Analysts Set New Price Targets

LGND has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Benchmark restated a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. StockNews.com downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Barclays boosted their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insiders Place Their Bets

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of Ligand Pharmaceuticals 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 transaction, the chief financial officer now directly owns 18,879 shares in the company, valued at approximately $2,171,651.37. This trade represents a 20.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by corporate 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.