Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 5.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 428,270 shares of the biotechnology company's stock after purchasing an additional 22,495 shares during the period. Geode Capital Management LLC owned approximately 2.27% of Ligand Pharmaceuticals worth $42,874,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LGND. Innealta Capital LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter worth $31,000. Rothschild Investment LLC purchased a new position in Ligand Pharmaceuticals in the second quarter valued at about $34,000. Headlands Technologies LLC boosted its stake in shares of Ligand Pharmaceuticals by 21.7% during the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company's stock worth $64,000 after acquiring an additional 135 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Ligand Pharmaceuticals by 23.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company's stock valued at $64,000 after purchasing an additional 125 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $67,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Benchmark reissued a "buy" rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday. Oppenheimer lifted their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Royal Bank of Canada increased their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Barclays upped their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of "Buy" and a consensus target price of $147.00.

Ligand Pharmaceuticals Stock Performance

LGND traded down $0.42 on Tuesday, reaching $113.38. 58,748 shares of the company's stock were exchanged, compared to its average volume of 135,971. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 45.17 and a beta of 1.01. The company's 50 day moving average is $115.86 and its 200-day moving average is $103.93. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.53 and a twelve month high of $129.90.

Insider Activity at Ligand Pharmaceuticals

In other news, Director John L. Lamattina sold 2,406 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the sale, the director now owns 29,515 shares of the company's stock, valued at approximately $3,649,529.75. This trade represents a 7.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is owned by insiders.

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.