Baird Financial Group Inc. Grows Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Baird Financial Group Inc. grew its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating) by 6.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,698 shares of the biotechnology company’s stock after buying an additional 219 shares during the quarter. Baird Financial Group Inc.’s holdings in Ligand Pharmaceuticals were worth $330,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Qube Research & Technologies Ltd purchased a new position in shares of Ligand Pharmaceuticals during the 1st quarter valued at approximately $839,000. Swiss National Bank lifted its position in shares of Ligand Pharmaceuticals by 7.6% during the 1st quarter. Swiss National Bank now owns 39,500 shares of the biotechnology company’s stock valued at $4,443,000 after buying an additional 2,800 shares in the last quarter. Venture Visionary Partners LLC purchased a new position in shares of Ligand Pharmaceuticals during the 2nd quarter valued at approximately $36,000. GW&K Investment Management LLC lifted its position in shares of Ligand Pharmaceuticals by 36.7% during the 1st quarter. GW&K Investment Management LLC now owns 34,873 shares of the biotechnology company’s stock valued at $3,923,000 after buying an additional 9,363 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Ligand Pharmaceuticals by 1.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 417,670 shares of the biotechnology company’s stock valued at $46,984,000 after buying an additional 6,311 shares in the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 1,696 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $75.64, for a total value of $128,285.44. Following the completion of the sale, the chief financial officer now directly owns 8,857 shares of the company’s stock, valued at approximately $669,943.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 1,696 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $75.64, for a total value of $128,285.44. Following the completion of the sale, the chief financial officer now directly owns 8,857 shares of the company’s stock, valued at approximately $669,943.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John L. Higgins sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $78.32, for a total value of $783,200.00. Following the completion of the sale, the chief executive officer now directly owns 416,731 shares of the company’s stock, valued at $32,638,371.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,696 shares of company stock valued at $1,091,485. 10.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LGND shares. Barclays decreased their target price on Ligand Pharmaceuticals from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday. Benchmark decreased their target price on Ligand Pharmaceuticals to $95.00 in a research report on Tuesday, November 15th. Roth Capital reduced their price objective on Ligand Pharmaceuticals from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, September 2nd. Finally, StockNews.com raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, November 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $165.00.

Ligand Pharmaceuticals Stock Performance

NASDAQ LGND opened at $74.87 on Wednesday. The business has a fifty day moving average price of $83.87 and a 200 day moving average price of $88.55. Ligand Pharmaceuticals Incorporated has a one year low of $57.77 and a one year high of $166.50. The company has a market cap of $1.26 billion, a P/E ratio of -60.38, a P/E/G ratio of 4.33 and a beta of 1.04.

Ligand Pharmaceuticals Profile

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Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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