Essex Investment Management Co. LLC Sells 3,901 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Essex Investment Management Co. LLC lowered its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,247 shares of the biotechnology company’s stock after selling 3,901 shares during the quarter. Ligand Pharmaceuticals comprises 1.3% of Essex Investment Management Co. LLC’s portfolio, making the stock its 14th biggest holding. Essex Investment Management Co. LLC owned 0.35% of Ligand Pharmaceuticals worth $6,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC raised its stake in Ligand Pharmaceuticals by 20.0% during the 3rd quarter. Barclays PLC now owns 43,456 shares of the biotechnology company’s stock valued at $4,349,000 after purchasing an additional 7,247 shares during the period. Geode Capital Management LLC raised its stake in Ligand Pharmaceuticals by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company’s stock valued at $42,874,000 after purchasing an additional 22,495 shares during the period. Fisher Asset Management LLC raised its stake in Ligand Pharmaceuticals by 12.4% during the 3rd quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company’s stock valued at $5,963,000 after purchasing an additional 6,555 shares during the period. Yousif Capital Management LLC raised its stake in Ligand Pharmaceuticals by 1.4% during the 4th quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock valued at $771,000 after purchasing an additional 96 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Ligand Pharmaceuticals by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 163,924 shares of the biotechnology company’s stock valued at $16,407,000 after purchasing an additional 8,584 shares during the period. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Down 1.0 %

Shares of NASDAQ LGND opened at $114.83 on Friday. The business has a fifty day simple moving average of $114.37 and a two-hundred day simple moving average of $111.64. The firm has a market cap of $2.21 billion, a PE ratio of 45.75 and a beta of 1.12. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90.

Analyst Ratings Changes

Several analysts recently issued reports on the company. 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 note on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Barclays lifted their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $147.00.

Insider Transactions at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the transaction, the chief financial officer now directly owns 18,879 shares of the company’s stock, valued at $2,171,651.37. This represents a 20.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate 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.