Octavio Espinoza Sells 2,104 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total value of $244,842.48. Following the transaction, the chief financial officer now directly 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 is available at the SEC website.

Ligand Pharmaceuticals Price Performance

Shares of NASDAQ LGND opened at $109.19 on Friday. The firm’s 50-day moving average is $116.15 and its two-hundred day moving average is $104.07. Ligand Pharmaceuticals Incorporated has a 12-month low of $67.53 and a 12-month high of $129.90. The company has a market capitalization of $2.06 billion, a PE ratio of 43.50 and a beta of 1.01.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Ligand Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of Ligand Pharmaceuticals in the second quarter worth $31,000. Rothschild Investment LLC purchased a new stake in Ligand Pharmaceuticals during the 2nd quarter worth about $34,000. Headlands Technologies LLC raised its stake in Ligand Pharmaceuticals by 21.7% in the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 135 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ligand Pharmaceuticals by 23.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 125 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter worth about $67,000. Institutional investors and hedge funds own 91.28% 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.