Ashton Thomas Private Wealth LLC Makes New $209,000 Investment in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Ashton Thomas Private Wealth LLC bought a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,947 shares of the biotechnology company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LGND. Amalgamated Bank lifted its position in Ligand Pharmaceuticals by 3.7% in the 3rd quarter. Amalgamated Bank now owns 5,349 shares of the biotechnology company’s stock worth $535,000 after buying an additional 191 shares in the last quarter. Principal Financial Group Inc. lifted its position in Ligand Pharmaceuticals by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 93,208 shares of the biotechnology company’s stock worth $9,329,000 after buying an additional 4,439 shares in the last quarter. Atria Investments Inc raised its holdings in shares of Ligand Pharmaceuticals by 6.3% during the 3rd quarter. Atria Investments Inc now owns 4,685 shares of the biotechnology company’s stock valued at $469,000 after purchasing an additional 279 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Ligand Pharmaceuticals by 79.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,022 shares of the biotechnology company’s stock valued at $1,403,000 after purchasing an additional 6,206 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Ligand Pharmaceuticals by 2.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 15,084 shares of the biotechnology company’s stock valued at $1,510,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Price Performance

Shares of LGND opened at $105.79 on Wednesday. The company has a market capitalization of $2.04 billion, a PE ratio of 42.15 and a beta of 1.12. Ligand Pharmaceuticals Incorporated has a one year low of $67.72 and a one year high of $129.90. The company’s fifty day moving average price is $114.42 and its 200 day moving average price is $111.73.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CFO Octavio Espinoza sold 5,000 shares of Ligand Pharmaceuticals 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.90% of the company’s stock.

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.