Thrivent Financial for Lutherans Buys 329 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Thrivent Financial for Lutherans grew its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 2.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,084 shares of the biotechnology company’s stock after acquiring an additional 329 shares during the period. Thrivent Financial for Lutherans’ holdings in Ligand Pharmaceuticals were worth $1,510,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Ligand Pharmaceuticals by 16.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 115,480 shares of the biotechnology company’s stock valued at $11,558,000 after purchasing an additional 16,446 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Ligand Pharmaceuticals by 7.2% during the second quarter. William Blair Investment Management LLC now owns 202,842 shares of the biotechnology company’s stock worth $17,091,000 after buying an additional 13,595 shares during the period. Los Angeles Capital Management LLC bought a new stake in Ligand Pharmaceuticals during the 2nd quarter valued at $608,000. Envestnet Asset Management Inc. increased its holdings in shares of Ligand Pharmaceuticals by 47.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 79,612 shares of the biotechnology company’s stock valued at $6,708,000 after acquiring an additional 25,717 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Ligand Pharmaceuticals by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,884,112 shares of the biotechnology company’s stock worth $137,729,000 after acquiring an additional 7,598 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 Ligand Pharmaceuticals stock opened at $121.47 on Friday. The stock has a market capitalization of $2.30 billion, a P/E ratio of 48.39 and a beta of 0.99. The business has a 50 day simple moving average of $110.11 and a two-hundred day simple moving average of $99.75. Ligand Pharmaceuticals Incorporated has a 12 month low of $57.00 and a 12 month high of $129.90.

Insiders Place Their Bets

In related news, COO Matthew E. Korenberg sold 6,275 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $104.10, for a total value of $653,227.50. Following the sale, the chief operating officer now owns 50,777 shares in the company, valued at approximately $5,285,885.70. The trade was a 11.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Reardon sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $99.60, for a total transaction of $199,200.00. Following the completion of the transaction, the insider now directly owns 22,534 shares of the company’s stock, valued at $2,244,386.40. This represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,322 shares of company stock valued at $1,974,073 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on LGND. Royal Bank of Canada boosted their price objective on shares of Ligand Pharmaceuticals from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Barclays upped their price target on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Benchmark raised their price objective on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Oppenheimer increased their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, HC Wainwright restated a “buy” rating and set a $157.00 price objective on shares of Ligand Pharmaceuticals in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $144.83.

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.