Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 79.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,022 shares of the biotechnology company’s stock after buying an additional 6,206 shares during the quarter. Victory Capital Management Inc.’s holdings in Ligand Pharmaceuticals were worth $1,403,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Ligand Pharmaceuticals by 16.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 115,480 shares of the biotechnology company’s stock worth $11,558,000 after acquiring an additional 16,446 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of Ligand Pharmaceuticals by 7.2% in the second quarter. William Blair Investment Management LLC now owns 202,842 shares of the biotechnology company’s stock valued at $17,091,000 after purchasing an additional 13,595 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Ligand Pharmaceuticals during the second quarter worth about $608,000. Envestnet Asset Management Inc. grew its position in Ligand Pharmaceuticals by 47.7% during the second quarter. Envestnet Asset Management Inc. now owns 79,612 shares of the biotechnology company’s stock worth $6,708,000 after buying an additional 25,717 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Ligand Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,884,112 shares of the biotechnology company’s stock valued at $137,729,000 after buying an additional 7,598 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, COO Matthew E. Korenberg sold 9,772 shares of Ligand Pharmaceuticals stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $101.22, for a total value of $989,121.84. Following the completion of the sale, the chief operating officer now owns 50,777 shares of the company’s stock, valued at $5,139,647.94. The trade was a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Reardon sold 1,500 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $106.39, for a total value of $159,585.00. Following the transaction, the insider now owns 22,534 shares in the company, valued at $2,397,392.26. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,822 shares of company stock worth $2,133,658. Corporate insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals Stock Up 1.2 %

Shares of NASDAQ:LGND opened at $120.62 on Tuesday. The company has a market capitalization of $2.28 billion, a P/E ratio of 48.06 and a beta of 0.99. Ligand Pharmaceuticals Incorporated has a 52-week low of $57.00 and a 52-week high of $129.90. The stock’s fifty day simple moving average is $108.29 and its 200-day simple moving average is $98.66.

Wall Street Analyst Weigh In

LGND has been the topic of several research analyst reports. Benchmark boosted their price target on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada upped their target price on Ligand Pharmaceuticals from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Barclays lifted their price target on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. HC Wainwright reissued a “buy” rating and issued a $157.00 price objective on shares of Ligand Pharmaceuticals in a research note on Friday, November 8th. Finally, Oppenheimer lifted their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $144.83.

Ligand Pharmaceuticals 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.