BTC Capital Management Inc. Sells 131 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

BTC Capital Management Inc. lessened its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,304 shares of the biotechnology company’s stock after selling 131 shares during the quarter. BTC Capital Management Inc.’s holdings in Ligand Pharmaceuticals were worth $354,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LGND. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ligand Pharmaceuticals by 23.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 125 shares in the last quarter. KBC Group NV boosted its stake in shares of Ligand Pharmaceuticals by 49.7% in the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 300 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Ligand Pharmaceuticals during the 4th quarter valued at $172,000. Wilmington Savings Fund Society FSB purchased a new position in Ligand Pharmaceuticals in the 3rd quarter worth $180,000. Finally, MML Investors Services LLC bought a new stake in Ligand Pharmaceuticals in the third quarter worth $210,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 2,104 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 20,647 shares of the company’s stock, valued at approximately $2,402,691.39. This trade represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $297,501.90. Following the sale, the director now owns 29,515 shares in the company, valued at approximately $3,649,529.75. This trade represents a 7.54 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LGND shares. Oppenheimer raised their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Barclays raised their target price 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. Finally, Royal Bank of Canada upped 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $147.00.

Ligand Pharmaceuticals Trading Down 1.8 %

Shares of Ligand Pharmaceuticals stock opened at $116.55 on Friday. The company’s fifty day simple moving average is $115.13 and its two-hundred day simple moving average is $109.02. Ligand Pharmaceuticals Incorporated has a 12-month low of $67.72 and a 12-month high of $129.90. The company has a market cap of $2.20 billion, a P/E ratio of 46.43 and a beta of 1.05.

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.