Prudential Financial Inc. Boosts Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Prudential Financial Inc. increased its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,995 shares of the biotechnology company’s stock after acquiring an additional 1,360 shares during the period. Prudential Financial Inc. owned about 0.54% of Ligand Pharmaceuticals worth $11,036,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Yousif Capital Management LLC lifted its stake in Ligand Pharmaceuticals by 1.4% during the fourth quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock worth $771,000 after purchasing an additional 96 shares during the last quarter. US Bancorp DE lifted its position in Ligand Pharmaceuticals by 14.8% in the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock worth $81,000 after buying an additional 98 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Ligand Pharmaceuticals by 4.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 2,862 shares of the biotechnology company’s stock worth $307,000 after buying an additional 115 shares in the last quarter. Arizona State Retirement System grew its position in Ligand Pharmaceuticals by 2.4% during the fourth quarter. Arizona State Retirement System now owns 5,297 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 125 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Ligand Pharmaceuticals by 3.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,034 shares of the biotechnology company’s stock worth $432,000 after acquiring an additional 129 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Price Performance

Shares of NASDAQ:LGND opened at $107.62 on Friday. The stock’s 50-day moving average is $114.20 and its 200 day moving average is $112.00. The company has a market cap of $2.07 billion, a PE ratio of 42.88 and a beta of 1.12. Ligand Pharmaceuticals Incorporated has a 1 year low of $67.72 and a 1 year high of $129.90.

Wall Street Analyst Weigh In

LGND has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. StockNews.com raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. 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. Royal Bank of Canada raised their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Activity

In related news, CFO Octavio Espinoza sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the transaction, the chief financial officer now owns 18,879 shares in the company, valued at $2,171,651.37. The trade was a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.90% of the company’s stock.

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.