Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 2.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 438,441 shares of the biotechnology company's stock after purchasing an additional 10,171 shares during the period. Geode Capital Management LLC owned approximately 2.32% of Ligand Pharmaceuticals worth $46,989,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its stake in shares of Ligand Pharmaceuticals by 119.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 221 shares during the last quarter. US Bancorp DE increased its stake in Ligand Pharmaceuticals by 14.8% in the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock valued at $81,000 after buying an additional 98 shares during the period. KBC Group NV lifted its stake in shares of 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 acquiring an additional 300 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Ligand Pharmaceuticals in the fourth quarter valued at about $172,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Ligand Pharmaceuticals during the 3rd quarter worth approximately $180,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total value 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. The trade was a 20.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

Ligand Pharmaceuticals Stock Performance

NASDAQ LGND traded up $0.35 during mid-day trading on Friday, reaching $104.97. 105,130 shares of the stock were exchanged, compared to its average volume of 121,260. The business's fifty day simple moving average is $109.82 and its 200 day simple moving average is $112.18. The stock has a market capitalization of $2.02 billion, a PE ratio of 41.82 and a beta of 1.07. Ligand Pharmaceuticals Incorporated has a 1-year low of $67.72 and a 1-year high of $129.90.

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.