Dana Investment Advisors Inc. Has $8.17 Million Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Dana Investment Advisors Inc. cut its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,229 shares of the biotechnology company’s stock after selling 4,373 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Ligand Pharmaceuticals were worth $8,168,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P grew its stake in shares of Ligand Pharmaceuticals by 44.3% in the third quarter. Loomis Sayles & Co. L P now owns 372,779 shares of the biotechnology company’s stock worth $37,312,000 after purchasing an additional 114,436 shares during the last quarter. Franklin Resources Inc. raised its stake in Ligand Pharmaceuticals by 503.5% during the 3rd quarter. Franklin Resources Inc. now owns 94,659 shares of the biotechnology company’s stock worth $9,793,000 after buying an additional 78,973 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 68.9% in the 4th quarter. Fisher Asset Management LLC now owns 100,638 shares of the biotechnology company’s stock worth $10,783,000 after purchasing an additional 41,064 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Ligand Pharmaceuticals during the third quarter worth about $3,410,000. Finally, Lisanti Capital Growth LLC bought a new position in shares of Ligand Pharmaceuticals in the third quarter valued at approximately $2,481,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In other news, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total value of $244,842.48. Following the completion of the sale, the chief financial officer now owns 20,647 shares of the company’s stock, valued at approximately $2,402,691.39. This represents a 9.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports 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 report on Wednesday, December 11th. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Oppenheimer lifted 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. Benchmark restated a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Finally, Barclays raised their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ligand Pharmaceuticals has an average rating of “Buy” and an average target price of $147.00.

Ligand Pharmaceuticals Stock Up 0.1 %

LGND opened at $115.41 on Thursday. The business’s fifty day simple moving average is $114.19 and its 200 day simple moving average is $111.45. Ligand Pharmaceuticals Incorporated has a 52 week low of $67.72 and a 52 week high of $129.90. The stock has a market cap of $2.18 billion, a PE ratio of 45.98 and a beta of 1.04.

Ligand Pharmaceuticals Company 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.