Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Sold by Equitable Trust Co.

Equitable Trust Co. cut its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,780 shares of the biotechnology company’s stock after selling 300 shares during the period. Equitable Trust Co.’s holdings in Ligand Pharmaceuticals were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LGND. Mirae Asset Global Investments Co. Ltd. increased its holdings in Ligand Pharmaceuticals by 23.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 125 shares during the last quarter. KBC Group NV boosted its position in shares of Ligand Pharmaceuticals by 49.7% during the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock worth $97,000 after acquiring an additional 300 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Ligand Pharmaceuticals in the 4th quarter valued at about $172,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ligand Pharmaceuticals during the 3rd quarter worth about $180,000. Finally, MML Investors Services LLC purchased a new stake in Ligand Pharmaceuticals during the third quarter worth approximately $210,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 20,647 shares of the company’s stock, valued at $2,402,691.39. This trade represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Lamattina sold 2,406 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the transaction, the director now owns 29,515 shares in the company, valued at approximately $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 company insiders.

Wall Street Analyst Weigh In

LGND has been the topic of several recent analyst reports. 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 research note on Wednesday, December 11th. Barclays upped their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Finally, Oppenheimer lifted their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Ligand Pharmaceuticals presently has an average rating of “Buy” and an average target price of $147.00.

Ligand Pharmaceuticals Price Performance

LGND stock opened at $112.77 on Wednesday. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 44.93 and a beta of 1.04. The company has a fifty day moving average price of $114.23 and a 200 day moving average price of $109.78. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90.

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.