Edgestream Partners L.P. Purchases New Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Edgestream Partners L.P. purchased a new stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 34,069 shares of the biotechnology company’s stock, valued at approximately $3,410,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Woodstock Corp grew its position in Ligand Pharmaceuticals by 0.3% in the third quarter. Woodstock Corp now owns 29,211 shares of the biotechnology company’s stock worth $2,924,000 after acquiring an additional 100 shares during the period. Creative Planning boosted its position in shares of Ligand Pharmaceuticals by 4.0% during the third quarter. Creative Planning now owns 2,896 shares of the biotechnology company’s stock worth $290,000 after buying an additional 111 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ligand Pharmaceuticals by 23.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after buying an additional 125 shares during the period. Headlands Technologies LLC boosted its position in shares of Ligand Pharmaceuticals by 21.7% during the second quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after buying an additional 135 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Ligand Pharmaceuticals by 3.4% during the second quarter. Arizona State Retirement System now owns 4,708 shares of the biotechnology company’s stock worth $397,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Transactions at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 1,275 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $103.94, for a total value of $132,523.50. Following the transaction, the chief financial officer now directly owns 24,610 shares of the company’s stock, valued at $2,557,963.40. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Andrew Reardon sold 2,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $99.60, for a total transaction of $199,200.00. Following the completion of the sale, the insider now directly owns 22,534 shares of the company’s stock, valued at approximately $2,244,386.40. This trade represents a 8.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,322 shares of company stock valued at $1,974,073. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

LGND has been the subject of several research analyst reports. Benchmark raised their price target on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their price objective on Ligand Pharmaceuticals from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Barclays increased their price objective on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. HC Wainwright reiterated a “buy” rating and issued a $157.00 price objective on shares of Ligand Pharmaceuticals in a research note on Friday, November 8th. Finally, Oppenheimer increased their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $144.83.

Ligand Pharmaceuticals Price Performance

Shares of NASDAQ LGND opened at $121.47 on Monday. The business has a 50-day moving average of $110.11 and a two-hundred day moving average of $99.85. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 48.39 and a beta of 0.99. Ligand Pharmaceuticals Incorporated has a 1 year low of $57.00 and a 1 year 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.