Charles Schwab Investment Management Inc. Acquires 6,495 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Charles Schwab Investment Management Inc. lifted its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 170,419 shares of the biotechnology company's stock after acquiring an additional 6,495 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.90% of Ligand Pharmaceuticals worth $18,260,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in LGND. Smartleaf Asset Management LLC raised its position in Ligand Pharmaceuticals by 119.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock worth $43,000 after purchasing an additional 221 shares during the period. US Bancorp DE raised its position in Ligand Pharmaceuticals by 14.8% in the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock worth $81,000 after purchasing an additional 98 shares during the period. KBC Group NV raised its position in Ligand Pharmaceuticals by 49.7% in the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company's stock worth $97,000 after purchasing an additional 300 shares during the period. SG Americas Securities LLC purchased a new position in Ligand Pharmaceuticals in the 4th quarter worth $172,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Ligand Pharmaceuticals in the 3rd quarter worth $180,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on LGND shares. Royal Bank of Canada lifted their target price on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. HC Wainwright restated a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Benchmark restated a "buy" rating and issued a $135.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Barclays boosted their price objective on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Finally, StockNews.com upgraded shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $147.00.

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Ligand Pharmaceuticals Stock Down 1.2 %

Shares of LGND traded down $1.26 during trading hours on Friday, reaching $108.15. 280,792 shares of the company traded hands, compared to its average volume of 120,583. The company's fifty day moving average price is $114.21 and its two-hundred day moving average price is $111.82. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 43.09 and a beta of 1.12. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90.

Insider Activity

In other news, CFO Octavio Espinoza sold 2,104 shares of Ligand Pharmaceuticals stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $116.37, for a total transaction of $244,842.48. Following the sale, the chief financial officer now owns 20,647 shares of the company's stock, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.90% of the company's stock.

Ligand Pharmaceuticals 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.