Connor Clark & Lunn Investment Management Ltd. Has $2.55 Million Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 11.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,763 shares of the biotechnology company’s stock after selling 3,200 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ligand Pharmaceuticals were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its position in Ligand Pharmaceuticals by 7.8% in the 4th quarter. HighTower Advisors LLC now owns 5,542 shares of the biotechnology company’s stock valued at $594,000 after acquiring an additional 400 shares in the last quarter. Amundi increased its position in Ligand Pharmaceuticals by 196.9% in the 4th quarter. Amundi now owns 9,548 shares of the biotechnology company’s stock valued at $1,056,000 after acquiring an additional 6,332 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Ligand Pharmaceuticals in the 4th quarter valued at about $209,000. Callan Family Office LLC acquired a new stake in shares of Ligand Pharmaceuticals during the 4th quarter worth approximately $261,000. Finally, Lisanti Capital Growth LLC grew its position in shares of Ligand Pharmaceuticals by 57.4% during the 4th quarter. Lisanti Capital Growth LLC now owns 39,010 shares of the biotechnology company’s stock worth $4,180,000 after buying an additional 14,225 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Performance

Shares of NASDAQ LGND opened at $106.22 on Wednesday. The stock has a market cap of $2.05 billion, a P/E ratio of 42.32 and a beta of 1.12. The firm has a 50 day moving average price of $114.25 and a 200 day moving average price of $111.77. Ligand Pharmaceuticals Incorporated has a 52-week low of $67.72 and a 52-week high of $129.90.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 2,104 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total value of $244,842.48. Following the transaction, the chief financial officer now owns 20,647 shares of the company’s stock, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

LGND has been the subject of several analyst reports. StockNews.com upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada lifted their price target 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. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Finally, Barclays lifted 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Ligand Pharmaceuticals presently has an average rating of “Moderate 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.