Comerica Bank Raises Holdings in Ligand Pharmaceuticals Inc. (LGND)

Comerica Bank grew its holdings in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,400 shares of the biotechnology company’s stock after purchasing an additional 2,869 shares during the period. Comerica Bank’s holdings in Ligand Pharmaceuticals were worth $4,815,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ligand Pharmaceuticals by 48.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock worth $151,000 after acquiring an additional 359 shares during the period. Bessemer Group Inc. increased its holdings in shares of Ligand Pharmaceuticals by 71.2% in the 4th quarter. Bessemer Group Inc. now owns 6,200 shares of the biotechnology company’s stock worth $849,000 after acquiring an additional 2,579 shares during the period. Congress Asset Management Co. MA increased its holdings in shares of Ligand Pharmaceuticals by 25.4% in the 4th quarter. Congress Asset Management Co. MA now owns 18,631 shares of the biotechnology company’s stock worth $2,551,000 after acquiring an additional 3,776 shares during the period. Campbell Newman Asset Management Inc. increased its holdings in shares of Ligand Pharmaceuticals by 22.3% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 3,495 shares of the biotechnology company’s stock worth $479,000 after acquiring an additional 637 shares during the period. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Ligand Pharmaceuticals by 14.5% in the 4th quarter. Rice Hall James & Associates LLC now owns 306,858 shares of the biotechnology company’s stock worth $42,018,000 after acquiring an additional 38,844 shares during the period.

A number of research firms recently weighed in on LGND. HC Wainwright reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Ligand Pharmaceuticals in a report on Friday, February 2nd. BidaskClub raised shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, Deutsche Bank cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price objective on the stock. in a report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $150.83.

Ligand Pharmaceuticals Inc. (NASDAQ LGND) opened at $157.25 on Thursday. The stock has a market cap of $3,290.00, a PE ratio of 227.90, a P/E/G ratio of 1.63 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95. Ligand Pharmaceuticals Inc. has a 12-month low of $95.08 and a 12-month high of $170.30.

In related news, CEO John L. Higgins sold 22,500 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $165.00, for a total value of $3,712,500.00. Following the completion of the transaction, the chief executive officer now owns 111,700 shares in the company, valued at approximately $18,430,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen L. Sabba sold 925 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $137.25, for a total transaction of $126,956.25. Following the completion of the transaction, the director now owns 26,985 shares of the company’s stock, valued at approximately $3,703,691.25. The disclosure for this sale can be found here. Insiders sold a total of 60,583 shares of company stock valued at $9,456,283 in the last quarter. 8.30% of the stock is currently owned by insiders.

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Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.

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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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