Advisors Asset Management Inc. Sells 5,167 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Advisors Asset Management Inc. reduced its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating) by 39.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,909 shares of the biotechnology company’s stock after selling 5,167 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ligand Pharmaceuticals were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Ligand Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,727,638 shares of the biotechnology company’s stock valued at $194,342,000 after acquiring an additional 10,903 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in shares of Ligand Pharmaceuticals by 8.6% in the 2nd quarter. Stephens Investment Management Group LLC now owns 453,574 shares of the biotechnology company’s stock valued at $40,468,000 after acquiring an additional 35,904 shares during the last quarter. abrdn plc increased its stake in shares of Ligand Pharmaceuticals by 27.9% in the 2nd quarter. abrdn plc now owns 428,585 shares of the biotechnology company’s stock valued at $38,239,000 after acquiring an additional 93,582 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ligand Pharmaceuticals by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 378,118 shares of the biotechnology company’s stock valued at $42,537,000 after acquiring an additional 5,450 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Ligand Pharmaceuticals by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 154,481 shares of the biotechnology company’s stock valued at $17,378,000 after purchasing an additional 1,268 shares during the period. 87.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Octavio Espinoza sold 1,696 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $75.64, for a total value of $128,285.44. Following the completion of the sale, the chief financial officer now owns 8,857 shares of the company’s stock, valued at approximately $669,943.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Octavio Espinoza sold 1,696 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $75.64, for a total value of $128,285.44. Following the completion of the sale, the chief financial officer now owns 8,857 shares of the company’s stock, valued at approximately $669,943.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John L. Higgins sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $90.00, for a total value of $180,000.00. Following the completion of the sale, the chief executive officer now directly owns 367,180 shares of the company’s stock, valued at approximately $33,046,200. The disclosure for this sale can be found here. Insiders own 10.40% of the company’s stock.

Ligand Pharmaceuticals Stock Down 1.7 %

NASDAQ:LGND opened at $78.35 on Friday. Ligand Pharmaceuticals Incorporated has a twelve month low of $57.77 and a twelve month high of $168.11. The business has a 50 day moving average price of $84.90 and a two-hundred day moving average price of $88.94. The company has a market cap of $1.32 billion, a P/E ratio of -63.18, a price-to-earnings-growth ratio of 4.43 and a beta of 1.04.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LGND shares. Roth Capital decreased their price objective on Ligand Pharmaceuticals from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, September 2nd. Barclays decreased their price objective on Ligand Pharmaceuticals from $157.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, October 25th. Benchmark decreased their price objective on Ligand Pharmaceuticals to $95.00 in a research report on Tuesday. Finally, StockNews.com upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, November 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $170.00.

About Ligand Pharmaceuticals

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Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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