Glenmede Trust Co. NA increased its stake in Ligand Pharmaceuticals (NASDAQ:LGND) by 25.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 392,932 shares of the biotechnology company’s stock after acquiring an additional 80,040 shares during the period. Glenmede Trust Co. NA owned approximately 1.86% of Ligand Pharmaceuticals worth $53,801,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LGND. Carillon Tower Advisers Inc. purchased a new position in Ligand Pharmaceuticals in the fourth quarter worth about $30,730,000. Janus Henderson Group PLC grew its position in Ligand Pharmaceuticals by 26.7% in the third quarter. Janus Henderson Group PLC now owns 754,692 shares of the biotechnology company’s stock worth $102,751,000 after acquiring an additional 159,201 shares in the last quarter. OppenheimerFunds Inc. grew its position in Ligand Pharmaceuticals by 74.0% in the fourth quarter. OppenheimerFunds Inc. now owns 252,961 shares of the biotechnology company’s stock worth $34,638,000 after acquiring an additional 107,580 shares in the last quarter. Stifel Financial Corp grew its position in Ligand Pharmaceuticals by 1,447.2% in the third quarter. Stifel Financial Corp now owns 109,124 shares of the biotechnology company’s stock worth $14,839,000 after acquiring an additional 102,071 shares in the last quarter. Finally, Nationwide Fund Advisors grew its position in Ligand Pharmaceuticals by 308.7% in the third quarter. Nationwide Fund Advisors now owns 88,095 shares of the biotechnology company’s stock worth $11,994,000 after acquiring an additional 66,542 shares in the last quarter.
Ligand Pharmaceuticals (NASDAQ:LGND) opened at $171.85 on Friday. Ligand Pharmaceuticals has a 12-month low of $102.56 and a 12-month high of $184.79. The stock has a market capitalization of $3,772.45, a P/E ratio of 336.97, a price-to-earnings-growth ratio of 1.80 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.99.
In other news, Director Todd C. Davis sold 17,170 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $152.37, for a total transaction of $2,616,192.90. Following the completion of the sale, the director now owns 65,898 shares of the company’s stock, valued at $10,040,878.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen L. Sabba sold 622 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $180.73, for a total transaction of $112,414.06. Following the sale, the director now directly owns 26,363 shares of the company’s stock, valued at approximately $4,764,584.99. The disclosure for this sale can be found here. Insiders have sold 100,512 shares of company stock valued at $15,879,684 in the last ninety days. Insiders own 8.30% of the company’s stock.
Several research analysts have issued reports on the company. BidaskClub upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. HC Wainwright restated a “buy” rating and set a $169.00 target price on shares of Ligand Pharmaceuticals in a research report on Thursday, January 18th. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a research report on Wednesday, February 28th. Deutsche Bank lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price for the company. in a research report on Monday, November 20th. Finally, Craig Hallum restated a “buy” rating and set a $200.00 target price (up previously from $190.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $161.00.
ILLEGAL ACTIVITY NOTICE: This article was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://stocknewstimes.com/2018/03/17/glenmede-trust-co-na-buys-80040-shares-of-ligand-pharmaceuticals-lgnd.html.
Ligand Pharmaceuticals Profile
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.
Want to see what other hedge funds are holding LGND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ligand Pharmaceuticals (NASDAQ:LGND).
Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.