CenterBook Partners LP Has $1.14 Million Stock Position in Ligand Pharmaceuticals Incorporated $LGND

CenterBook Partners LP lowered its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 52.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,434 shares of the biotechnology company’s stock after selling 7,033 shares during the quarter. CenterBook Partners LP’s holdings in Ligand Pharmaceuticals were worth $1,140,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LGND. Envestnet Asset Management Inc. raised its stake in shares of Ligand Pharmaceuticals by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 27,377 shares of the biotechnology company’s stock worth $3,112,000 after buying an additional 769 shares during the last quarter. Congress Asset Management Co. raised its position in shares of Ligand Pharmaceuticals by 3.0% during the 3rd quarter. Congress Asset Management Co. now owns 667,311 shares of the biotechnology company’s stock valued at $118,207,000 after acquiring an additional 19,370 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Ligand Pharmaceuticals by 59.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 541,845 shares of the biotechnology company’s stock valued at $95,982,000 after acquiring an additional 202,103 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Ligand Pharmaceuticals by 42.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 108,424 shares of the biotechnology company’s stock valued at $19,416,000 after purchasing an additional 32,379 shares during the period. Finally, Moody Aldrich Partners LLC bought a new position in shares of Ligand Pharmaceuticals in the 3rd quarter worth $4,585,000. 91.28% of the stock is owned by institutional investors.

Ligand Pharmaceuticals Price Performance

NASDAQ LGND opened at $183.98 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 24.30 and a current ratio of 24.69. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 88.88 and a beta of 1.14. The business has a 50 day simple moving average of $193.87 and a 200 day simple moving average of $183.71. Ligand Pharmaceuticals Incorporated has a 52-week low of $93.58 and a 52-week high of $212.49.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Royal Bank Of Canada upped their price objective on Ligand Pharmaceuticals from $234.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Oppenheimer upped their price target on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Citigroup began coverage on shares of Ligand Pharmaceuticals in a research note on Tuesday, December 9th. They set a “buy” rating and a $270.00 price objective on the stock. HC Wainwright boosted their price objective on shares of Ligand Pharmaceuticals from $206.00 to $231.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Stifel Nicolaus increased their target price on shares of Ligand Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.33.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, Director John W. Kozarich sold 467 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $195.91, for a total value of $91,489.97. Following the completion of the transaction, the director directly owned 43,187 shares of the company’s stock, valued at approximately $8,460,765.17. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Octavio Espinoza sold 1,804 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $188.31, for a total value of $339,711.24. Following the completion of the sale, the chief financial officer owned 26,186 shares in the company, valued at approximately $4,931,085.66. This trade represents a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,205 shares of company stock worth $611,192 over the last ninety days. 7.00% of the stock is currently owned by insiders.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.