Fmr LLC Grows Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

FMR LLC increased its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 550.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,749 shares of the biotechnology company's stock after buying an additional 10,789 shares during the period. FMR LLC owned about 0.07% of Ligand Pharmaceuticals worth $1,276,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Ligand Pharmaceuticals by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company's stock valued at $59,707,000 after purchasing an additional 44,543 shares during the last quarter. Congress Asset Management Co. increased its position in shares of Ligand Pharmaceuticals by 3.0% during the third quarter. Congress Asset Management Co. now owns 604,038 shares of the biotechnology company's stock worth $60,458,000 after acquiring an additional 17,414 shares during the period. Chicago Capital LLC raised its position in Ligand Pharmaceuticals by 6.0% during the 3rd quarter. Chicago Capital LLC now owns 545,821 shares of the biotechnology company's stock valued at $54,631,000 after purchasing an additional 30,875 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in Ligand Pharmaceuticals by 44.3% in the third quarter. Loomis Sayles & Co. L P now owns 372,779 shares of the biotechnology company's stock worth $37,312,000 after acquiring an additional 114,436 shares during the period. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Ligand Pharmaceuticals by 7.0% during the third quarter. Rice Hall James & Associates LLC now owns 312,879 shares of the biotechnology company's stock valued at $31,316,000 after purchasing an additional 20,404 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 2,000 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $99.60, for a total value of $199,200.00. Following the sale, the insider now owns 22,534 shares of the company's stock, valued at approximately $2,244,386.40. This represents a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Octavio Espinoza sold 1,275 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $103.94, for a total transaction of $132,523.50. Following the transaction, the chief financial officer now owns 24,610 shares of the company's stock, valued at approximately $2,557,963.40. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,728 shares of company stock worth $2,271,575. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on LGND shares. Royal Bank of Canada boosted their price objective on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. Barclays raised their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday. Oppenheimer raised their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Benchmark upped their price objective on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, HC Wainwright reissued a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $147.00.

Ligand Pharmaceuticals Stock Performance

LGND stock traded down $1.91 during midday trading on Tuesday, reaching $120.43. 131,071 shares of the company were exchanged, compared to its average volume of 134,806. The stock's 50-day simple moving average is $114.39 and its 200 day simple moving average is $102.59. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 47.98 and a beta of 1.01. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.36 and a 1-year high of $129.90.

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.