Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. lifted its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 621,482 shares of the biotechnology company’s stock after purchasing an additional 17,444 shares during the quarter. Congress Asset Management Co.’s holdings in Ligand Pharmaceuticals were worth $66,592,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ligand Pharmaceuticals by 23.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 125 shares in the last quarter. KBC Group NV boosted its stake in Ligand Pharmaceuticals by 49.7% in the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 300 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Ligand Pharmaceuticals during the 4th quarter worth approximately $172,000. Wilmington Savings Fund Society FSB purchased a new stake in Ligand Pharmaceuticals during the 3rd quarter worth approximately $180,000. Finally, Supplemental Annuity Collective Trust of NJ purchased a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth $204,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Stock Up 5.3 %

Shares of LGND opened at $120.00 on Friday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 47.81 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 stock’s 50-day moving average price is $113.75 and its 200-day moving average price is $109.90.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, Director John L. Lamattina sold 2,406 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 29,515 shares in the company, valued at $3,649,529.75. The trade was a 7.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total transaction of $244,842.48. Following the sale, the chief financial officer now directly owns 20,647 shares in the company, valued at $2,402,691.39. This trade 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada boosted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Barclays upped their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Benchmark reissued a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ligand Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $147.00.

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.