SG Americas Securities LLC Invests $172,000 in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

SG Americas Securities LLC bought a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,607 shares of the biotechnology company’s stock, valued at approximately $172,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp grew its holdings in Ligand Pharmaceuticals by 2.7% in the third quarter. State Street Corp now owns 707,414 shares of the biotechnology company’s stock valued at $70,805,000 after purchasing an additional 18,642 shares during the period. Congress Asset Management Co. grew its stake in Ligand Pharmaceuticals by 3.0% in the 3rd quarter. Congress Asset Management Co. now owns 604,038 shares of the biotechnology company’s stock valued at $60,458,000 after acquiring an additional 17,414 shares during the period. Chicago Capital LLC increased its holdings in Ligand Pharmaceuticals by 6.0% in the 3rd quarter. Chicago Capital LLC now owns 545,821 shares of the biotechnology company’s stock worth $54,631,000 after acquiring an additional 30,875 shares in the last quarter. Geode Capital Management LLC raised its position in Ligand Pharmaceuticals by 5.5% during the third quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company’s stock worth $42,874,000 after acquiring an additional 22,495 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in Ligand Pharmaceuticals by 44.3% during the third quarter. Loomis Sayles & Co. L P now owns 372,779 shares of the biotechnology company’s stock valued at $37,312,000 after purchasing an additional 114,436 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 stock opened at $115.19 on Monday. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.72 and a 1-year high of $129.90. The firm has a market cap of $2.18 billion, a PE ratio of 45.89 and a beta of 1.04. The company has a 50-day moving average of $114.54 and a two-hundred day moving average of $109.68.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LGND. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Royal Bank of Canada lifted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Barclays increased their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Finally, Oppenheimer upped their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $147.00.

Insider Buying and Selling

In related news, CFO Octavio Espinoza sold 2,104 shares of the firm’s stock in a transaction dated 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 directly owns 20,647 shares in the company, valued at $2,402,691.39. This trade represents a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Lamattina sold 2,406 shares of the business’s stock in a transaction dated 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 owns 29,515 shares in the company, valued at $3,649,529.75. This trade represents 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 currently 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.