United Services Automobile Association decreased its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 18.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,030 shares of the biotechnology company’s stock after selling 5,740 shares during the period. United Services Automobile Association owned about 0.12% of Ligand Pharmaceuticals worth $2,555,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC raised its position in Ligand Pharmaceuticals by 25.0% in the third quarter. Acrospire Investment Management LLC now owns 1,000 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 200 shares during the last quarter. Van Hulzen Asset Management LLC bought a new stake in shares of Ligand Pharmaceuticals during the third quarter worth about $113,000. Independent Portfolio Consultants Inc. raised its stake in shares of Ligand Pharmaceuticals by 4.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,575 shares of the biotechnology company’s stock worth $161,000 after buying an additional 65 shares in the last quarter. Howe & Rusling Inc. raised its stake in shares of Ligand Pharmaceuticals by 8.3% in the second quarter. Howe & Rusling Inc. now owns 1,375 shares of the biotechnology company’s stock worth $164,000 after buying an additional 105 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. bought a new stake in shares of Ligand Pharmaceuticals during the second quarter worth about $205,000.
Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) traded down 0.97% during trading on Friday, reaching $106.94. 239,034 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $104.69 and a 200 day moving average price of $106.54. The company has a market capitalization of $2.24 billion, a P/E ratio of 306.42 and a beta of 1.39. Ligand Pharmaceuticals Incorporated has a 12-month low of $86.90 and a 12-month high of $139.79.
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A number of brokerages have recently issued reports on LGND. Roth Capital set a $154.00 target price on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, November 21st. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Monday, January 30th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $137.48.
In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 6,330 shares of the firm’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $105.28, for a total value of $666,422.40. Following the completion of the sale, the director now directly owns 58,959 shares of the company’s stock, valued at approximately $6,207,203.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.70% of the stock is owned by company insiders.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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