Burney Co. Grows Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Burney Co. lifted its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 21.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,520 shares of the biotechnology company’s stock after buying an additional 2,399 shares during the period. Burney Co. owned approximately 0.07% of Ligand Pharmaceuticals worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ligand Pharmaceuticals by 23.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after buying an additional 125 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Ligand Pharmaceuticals during the 2nd quarter valued at about $67,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ligand Pharmaceuticals in the third quarter valued at about $180,000. MML Investors Services LLC acquired a new stake in Ligand Pharmaceuticals during the third quarter worth about $210,000. Finally, OLD National Bancorp IN acquired a new stake in Ligand Pharmaceuticals during the third quarter worth about $228,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LGND has been the subject of several analyst reports. HC Wainwright reissued 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. Oppenheimer lifted their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Barclays raised 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ligand Pharmaceuticals has an average rating of “Buy” and a consensus target price of $147.00.

Ligand Pharmaceuticals Stock Up 0.7 %

NASDAQ:LGND opened at $111.08 on Friday. Ligand Pharmaceuticals Incorporated has a 52 week low of $67.53 and a 52 week high of $129.90. The stock’s fifty day moving average is $115.30 and its two-hundred day moving average is $107.01. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 44.26 and a beta of 1.05.

Insider Buying and Selling

In related news, CFO Octavio Espinoza sold 2,104 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total value of $244,842.48. Following the completion of the transaction, the chief financial officer now owns 20,647 shares in the company, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Lamattina sold 2,406 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the sale, the director now directly owns 29,515 shares in the company, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

About Ligand Pharmaceuticals

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.