Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Stock Holdings Lifted by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 825.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 546 shares of the biotechnology company’s stock after buying an additional 487 shares during the period. Sterling Capital Management LLC’s holdings in Ligand Pharmaceuticals were worth $59,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LGND. Massachusetts Financial Services Co. MA bought a new position in Ligand Pharmaceuticals during the 4th quarter worth $29,652,000. Vanguard Group Inc. increased its holdings in shares of Ligand Pharmaceuticals by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company’s stock worth $223,475,000 after acquiring an additional 115,005 shares during the period. Franklin Resources Inc. lifted its position in Ligand Pharmaceuticals by 95.9% in the 4th quarter. Franklin Resources Inc. now owns 185,402 shares of the biotechnology company’s stock valued at $19,866,000 after purchasing an additional 90,743 shares during the last quarter. Norges Bank bought a new position in Ligand Pharmaceuticals in the 4th quarter worth about $4,960,000. Finally, Fisher Asset Management LLC increased its stake in shares of Ligand Pharmaceuticals by 68.9% in the fourth quarter. Fisher Asset Management LLC now owns 100,638 shares of the biotechnology company’s stock valued at $10,783,000 after purchasing an additional 41,064 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the sale, the chief financial officer now owns 18,879 shares in the company, valued at approximately $2,171,651.37. This represents a 20.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LGND. Stifel Nicolaus started coverage on Ligand Pharmaceuticals in a report on Thursday, April 10th. They issued a “buy” rating and a $143.00 price objective for the company. StockNews.com upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $146.43.

Ligand Pharmaceuticals Trading Down 0.7 %

Shares of NASDAQ LGND opened at $105.76 on Thursday. The firm has a 50-day moving average of $109.25 and a two-hundred day moving average of $112.17. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 42.14 and a beta of 1.07. Ligand Pharmaceuticals Incorporated has a twelve month low of $69.17 and a twelve 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.