Uniplan Investment Counsel Inc. Buys 15,051 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Uniplan Investment Counsel Inc. raised its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,155 shares of the biotechnology company's stock after purchasing an additional 15,051 shares during the quarter. Uniplan Investment Counsel Inc. owned approximately 0.36% of Ligand Pharmaceuticals worth $7,303,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LGND. MML Investors Services LLC purchased a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter worth about $210,000. Barclays PLC grew its position in shares of Ligand Pharmaceuticals by 20.0% in the 3rd quarter. Barclays PLC now owns 43,456 shares of the biotechnology company's stock worth $4,349,000 after buying an additional 7,247 shares during the period. Geode Capital Management LLC grew its position in shares of Ligand Pharmaceuticals by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock worth $42,874,000 after buying an additional 22,495 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter worth about $180,000. Finally, Franklin Resources Inc. grew its position in shares of Ligand Pharmaceuticals by 503.5% in the 3rd quarter. Franklin Resources Inc. now owns 94,659 shares of the biotechnology company's stock worth $9,793,000 after buying an additional 78,973 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Stifel Nicolaus assumed coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, April 10th. They set a "buy" rating and a $143.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.43.

Ligand Pharmaceuticals Price Performance

NASDAQ LGND traded down $0.48 during mid-day trading on Friday, reaching $108.07. The stock had a trading volume of 102,809 shares, compared to its average volume of 120,497. The stock has a market cap of $2.08 billion, a PE ratio of 43.06 and a beta of 1.07. The company has a fifty day moving average price of $108.78 and a 200 day moving average price of $112.39. Ligand Pharmaceuticals Incorporated has a 1 year low of $69.51 and a 1 year high of $129.90.

Insider Activity

In other news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the transaction, the chief financial officer now directly owns 18,879 shares of the company's stock, valued at $2,171,651.37. This represents a 20.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.