Villere ST Denis J & Co. LLC Trims Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Villere ST Denis J & Co. LLC lessened its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 39.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 287,044 shares of the biotechnology company’s stock after selling 187,814 shares during the quarter. Ligand Pharmaceuticals comprises about 2.8% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 14th biggest position. Villere ST Denis J & Co. LLC’s holdings in Ligand Pharmaceuticals were worth $30,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Supplemental Annuity Collective Trust of NJ bought a new stake in shares of Ligand Pharmaceuticals during the 4th quarter valued at about $204,000. Legato Capital Management LLC boosted its position in shares of Ligand Pharmaceuticals by 4.4% during the 4th quarter. Legato Capital Management LLC now owns 18,058 shares of the biotechnology company’s stock valued at $1,935,000 after acquiring an additional 753 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Ligand Pharmaceuticals by 3.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the biotechnology company’s stock valued at $975,000 after acquiring an additional 300 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Ligand Pharmaceuticals by 3.0% during the 4th quarter. State of Alaska Department of Revenue now owns 10,739 shares of the biotechnology company’s stock valued at $1,150,000 after acquiring an additional 314 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its position in shares of Ligand Pharmaceuticals by 1.4% during the 4th quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock valued at $771,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Price Performance

NASDAQ:LGND opened at $120.00 on Friday. The business has a 50 day moving average of $113.75 and a 200 day moving average of $109.90. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 47.81 and a beta of 1.04. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.72 and a 1-year high of $129.90.

Insiders Place Their Bets

In other news, CFO Octavio Espinoza sold 2,104 shares of the business’s 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 transaction, the chief financial officer now directly owns 20,647 shares of the company’s stock, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Lamattina sold 2,406 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following the transaction, the director now directly owns 29,515 shares in the company, valued at $3,649,529.75. This trade represents a 7.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LGND shares. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Royal Bank of Canada lifted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Oppenheimer boosted their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Barclays boosted their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $147.00.

About Ligand Pharmaceuticals

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.