Franklin Resources Inc. boosted its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 503.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 94,659 shares of the biotechnology company's stock after buying an additional 78,973 shares during the period. Franklin Resources Inc. owned approximately 0.50% of Ligand Pharmaceuticals worth $9,793,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of LGND. Dimensional Fund Advisors LP raised its holdings in shares of Ligand Pharmaceuticals by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company's stock worth $59,707,000 after acquiring an additional 44,543 shares during the period. State Street Corp increased its holdings in Ligand Pharmaceuticals by 2.7% during the 3rd quarter. State Street Corp now owns 707,414 shares of the biotechnology company's stock worth $70,805,000 after purchasing an additional 18,642 shares in the last quarter. Congress Asset Management Co. raised its stake in shares of Ligand Pharmaceuticals by 3.0% in the 3rd quarter. Congress Asset Management Co. now owns 604,038 shares of the biotechnology company's stock valued at $60,458,000 after purchasing an additional 17,414 shares during the period. Chicago Capital LLC boosted its position in shares of Ligand Pharmaceuticals by 6.0% during the third quarter. Chicago Capital LLC now owns 545,821 shares of the biotechnology company's stock worth $54,631,000 after buying an additional 30,875 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Ligand Pharmaceuticals by 5.5% during the third quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock worth $42,874,000 after buying an additional 22,495 shares in the last quarter. Institutional investors own 91.28% of the company's stock.
Several research firms have commented on LGND. Barclays boosted their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Oppenheimer increased their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. HC Wainwright reaffirmed a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Benchmark boosted their price target on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada raised their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $147.00.
Check Out Our Latest Research Report on LGND
Shares of LGND opened at $114.64 on Friday. Ligand Pharmaceuticals Incorporated has a 52-week low of $67.53 and a 52-week high of $129.90. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 45.67 and a beta of 1.01. The business's fifty day moving average is $115.47 and its 200-day moving average is $103.19.
In related news, insider Andrew Reardon sold 2,000 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $99.60, for a total transaction of $199,200.00. Following the sale, the insider now owns 22,534 shares of the company's stock, valued at $2,244,386.40. This trade represents a 8.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Lamattina sold 2,406 shares of the company's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total value of $297,501.90. Following the completion of the transaction, the director now directly owns 29,515 shares of the company's stock, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,178 shares of company stock worth $1,485,824 over the last 90 days. Insiders own 5.90% of the company's stock.
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.
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