Mariner LLC Purchases Shares of 2,574 Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Mariner LLC acquired a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,574 shares of the biotechnology company's stock, valued at approximately $276,000.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new position in Ligand Pharmaceuticals in the 4th quarter worth approximately $29,652,000. Vanguard Group Inc. boosted its position in shares of Ligand Pharmaceuticals by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company's stock worth $223,475,000 after acquiring an additional 115,005 shares during the last quarter. Franklin Resources Inc. grew its stake in Ligand Pharmaceuticals by 95.9% during the fourth quarter. Franklin Resources Inc. now owns 185,402 shares of the biotechnology company's stock valued at $19,866,000 after acquiring an additional 90,743 shares in the last quarter. Norges Bank bought a new stake in Ligand Pharmaceuticals in the 4th quarter valued at $4,960,000. Finally, Fisher Asset Management LLC lifted its stake in Ligand Pharmaceuticals by 68.9% in the 4th quarter. Fisher Asset Management LLC now owns 100,638 shares of the biotechnology company's stock worth $10,783,000 after purchasing an additional 41,064 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insiders Place Their Bets

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total value of $575,150.00. Following the completion of the sale, the chief financial officer now owns 18,879 shares of the company's stock, valued at $2,171,651.37. This trade represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by insiders.

Ligand Pharmaceuticals Price Performance

NASDAQ:LGND opened at $106.35 on Tuesday. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 42.37 and a beta of 1.07. The business has a 50 day simple moving average of $107.58 and a 200-day simple moving average of $112.56. Ligand Pharmaceuticals Incorporated has a 1 year low of $72.61 and a 1 year high of $129.90.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LGND. StockNews.com upgraded Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Stifel Nicolaus began coverage on Ligand Pharmaceuticals in a report on Thursday, April 10th. They set a "buy" rating and a $143.00 price target for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $146.43.

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.

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