Russell Investments Group Ltd. Has $10.24 Million Stock Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Russell Investments Group Ltd. decreased its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 95,600 shares of the biotechnology company's stock after selling 20,654 shares during the period. Russell Investments Group Ltd. owned approximately 0.51% of Ligand Pharmaceuticals worth $10,244,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LGND. Smartleaf Asset Management LLC increased its position in shares of Ligand Pharmaceuticals by 119.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock worth $43,000 after acquiring an additional 221 shares during the period. US Bancorp DE increased its stake in Ligand Pharmaceuticals by 14.8% in the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock valued at $81,000 after purchasing an additional 98 shares during the period. KBC Group NV raised its stake in Ligand Pharmaceuticals by 49.7% during the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company's stock valued at $97,000 after acquiring an additional 300 shares during the last quarter. SG Americas Securities LLC acquired a new position in Ligand Pharmaceuticals in the 4th quarter valued at $172,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Ligand Pharmaceuticals during the 3rd quarter worth approximately $180,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LGND has been the subject of a number of recent research reports. Benchmark reissued a "buy" rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Stifel Nicolaus started coverage on shares of Ligand Pharmaceuticals in a report on Thursday, April 10th. They set a "buy" rating and a $143.00 target price on the stock. Finally, StockNews.com raised shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.43.

Ligand Pharmaceuticals Price Performance

LGND stock traded down $0.04 on Thursday, reaching $104.59. 31,723 shares of the company were exchanged, compared to its average volume of 121,370. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90. The firm has a market capitalization of $2.01 billion, a PE ratio of 41.73 and a beta of 1.07. The stock's fifty day moving average price is $110.16 and its 200 day moving average price is $112.04.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the company's 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 owns 18,879 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. 5.90% of the stock is currently owned by insiders.

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.