Townsquare Capital LLC Acquires 4,726 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Townsquare Capital LLC increased its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 15.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,539 shares of the biotechnology company's stock after purchasing an additional 4,726 shares during the period. Townsquare Capital LLC owned 0.18% of Ligand Pharmaceuticals worth $3,701,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LGND. Barclays PLC raised its position in shares of Ligand Pharmaceuticals by 20.0% during the third quarter. Barclays PLC now owns 43,456 shares of the biotechnology company's stock valued at $4,349,000 after buying an additional 7,247 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Ligand Pharmaceuticals by 5.5% during the third quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock valued at $42,874,000 after purchasing an additional 22,495 shares in the last quarter. Yousif Capital Management LLC increased its holdings in shares of Ligand Pharmaceuticals by 1.4% in the fourth quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company's stock worth $771,000 after purchasing an additional 96 shares during the last quarter. HighTower Advisors LLC boosted its stake in Ligand Pharmaceuticals by 5.5% during the third quarter. HighTower Advisors LLC now owns 5,142 shares of the biotechnology company's stock valued at $518,000 after buying an additional 266 shares during the last quarter. Finally, FMR LLC grew its holdings in Ligand Pharmaceuticals by 550.5% during the 3rd quarter. FMR LLC now owns 12,749 shares of the biotechnology company's stock valued at $1,276,000 after buying an additional 10,789 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Price Performance

Shares of NASDAQ:LGND traded up $0.35 during trading hours on Friday, hitting $104.97. 105,130 shares of the company's stock traded hands, compared to its average volume of 121,260. The business has a fifty day moving average price of $109.82 and a 200-day moving average price of $112.25. Ligand Pharmaceuticals Incorporated has a 1 year low of $67.72 and a 1 year high of $129.90. The firm has a market capitalization of $2.02 billion, a P/E ratio of 41.82 and a beta of 1.07.

Insider Activity at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the sale, the chief financial officer now owns 18,879 shares in the company, valued at $2,171,651.37. This trade represents a 20.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on LGND shares. StockNews.com upgraded shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th. Stifel Nicolaus started coverage on Ligand Pharmaceuticals in a research report on Thursday, April 10th. They issued a "buy" rating and a $143.00 price target for the company. Finally, Benchmark restated a "buy" rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $146.43.

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.