Virtu Financial LLC Takes $338,000 Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Virtu Financial LLC bought a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,155 shares of the biotechnology company’s stock, valued at approximately $338,000.

A number of other large investors have also added to or reduced their stakes in LGND. State Street Corp increased its holdings in shares of Ligand Pharmaceuticals by 2.7% in the third quarter. State Street Corp now owns 707,414 shares of the biotechnology company’s stock valued at $70,805,000 after purchasing an additional 18,642 shares during the last quarter. Congress Asset Management Co. boosted its holdings in shares of Ligand Pharmaceuticals by 2.9% during the 4th quarter. Congress Asset Management Co. now owns 621,482 shares of the biotechnology company’s stock worth $66,592,000 after buying an additional 17,444 shares during the period. Chicago Capital LLC grew its stake in Ligand Pharmaceuticals by 1.1% in the 4th quarter. Chicago Capital LLC now owns 551,588 shares of the biotechnology company’s stock valued at $59,103,000 after buying an additional 5,767 shares during the last quarter. Geode Capital Management LLC raised its holdings in Ligand Pharmaceuticals by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company’s stock valued at $42,874,000 after acquiring an additional 22,495 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Ligand Pharmaceuticals by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,419 shares of the biotechnology company’s stock worth $18,260,000 after acquiring an additional 6,495 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Performance

NASDAQ:LGND opened at $109.70 on Friday. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $67.72 and a fifty-two week high of $129.90. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 43.71 and a beta of 1.12. The stock has a fifty day moving average price of $114.28 and a 200-day moving average price of $111.97.

Analyst Ratings Changes

Several research firms have recently commented on LGND. Royal Bank of Canada upped their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. StockNews.com raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th. HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Benchmark restated a “buy” rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Finally, Barclays lifted their price objective on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Ligand Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $147.00.

Insider Buying and Selling

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total value of $575,150.00. Following the transaction, the chief financial officer now directly owns 18,879 shares of the company’s stock, valued at $2,171,651.37. This trade represents a 20.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is currently owned by company insiders.

About Ligand Pharmaceuticals

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.