Isthmus Partners LLC Has $4.08 Million Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Isthmus Partners LLC decreased its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 38,095 shares of the biotechnology company’s stock after selling 459 shares during the quarter. Isthmus Partners LLC owned 0.20% of Ligand Pharmaceuticals worth $4,082,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Loomis Sayles & Co. L P increased its stake in Ligand Pharmaceuticals by 44.3% during the third quarter. Loomis Sayles & Co. L P now owns 372,779 shares of the biotechnology company’s stock valued at $37,312,000 after acquiring an additional 114,436 shares during the period. Franklin Resources Inc. grew its holdings in shares of 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 purchasing an additional 78,973 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Ligand Pharmaceuticals by 68.9% during the fourth quarter. Fisher Asset Management LLC now owns 100,638 shares of the biotechnology company’s stock valued at $10,783,000 after purchasing an additional 41,064 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Ligand Pharmaceuticals in the third quarter valued at $3,410,000. Finally, Lisanti Capital Growth LLC bought a new position in Ligand Pharmaceuticals in the third quarter worth $2,481,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Down 1.0 %

Shares of LGND stock opened at $114.83 on Monday. The company has a market capitalization of $2.21 billion, a P/E ratio of 45.75 and a beta of 1.12. Ligand Pharmaceuticals Incorporated has a 12-month low of $67.72 and a 12-month high of $129.90. The firm has a 50-day moving average price of $114.37 and a 200 day moving average price of $111.68.

Analysts Set New Price Targets

LGND has been the topic of several analyst reports. Benchmark reissued a “buy” rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Barclays upped their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada upped their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ligand Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $147.00.

Insider Activity

In related news, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total transaction of $244,842.48. Following the sale, the chief financial officer now directly owns 20,647 shares in the company, valued at $2,402,691.39. This represents a 9.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by corporate insiders.

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.