Rice Hall James & Associates LLC Reduces Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Rice Hall James & Associates LLC trimmed its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 2.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 304,925 shares of the biotechnology company’s stock after selling 7,954 shares during the period. Ligand Pharmaceuticals accounts for 1.8% of Rice Hall James & Associates LLC’s holdings, making the stock its 13th biggest holding. Rice Hall James & Associates LLC’s holdings in Ligand Pharmaceuticals were worth $32,673,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted 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 purchasing an additional 125 shares during the last quarter. KBC Group NV raised its position in shares of Ligand Pharmaceuticals by 49.7% in the fourth quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock worth $97,000 after acquiring an additional 300 shares during the period. SG Americas Securities LLC acquired a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth about $172,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Ligand Pharmaceuticals in the third quarter worth about $180,000. Finally, Supplemental Annuity Collective Trust of NJ acquired a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth about $204,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were 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 owns 20,647 shares of the company’s stock, valued at approximately $2,402,691.39. This represents a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Lamattina sold 2,406 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total transaction of $297,501.90. Following the sale, the director now directly owns 29,515 shares of the company’s stock, valued at approximately $3,649,529.75. This represents a 7.54 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Ligand Pharmaceuticals Trading Up 5.3 %

Shares of NASDAQ LGND opened at $120.00 on Tuesday. Ligand Pharmaceuticals Incorporated has a 12-month low of $67.72 and a 12-month high of $129.90. The stock has a market cap of $2.27 billion, a PE ratio of 47.81 and a beta of 1.04. The company has a 50-day moving average of $113.82 and a 200 day moving average of $110.01.

Analysts Set New Price Targets

A number of research analysts have weighed in on LGND shares. Royal Bank of Canada upped their price objective on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Oppenheimer upped their price target 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. Benchmark restated a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Barclays upped their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ligand Pharmaceuticals presently has an average rating of “Buy” and an average price target of $147.00.

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.