Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Stock Position Boosted by Amundi

Amundi grew its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 196.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,548 shares of the biotechnology company's stock after purchasing an additional 6,332 shares during the period. Amundi owned approximately 0.05% of Ligand Pharmaceuticals worth $1,056,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Ligand Pharmaceuticals during the fourth quarter valued at approximately $209,000. Callan Family Office LLC acquired a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth approximately $261,000. Lisanti Capital Growth LLC grew its position in shares of Ligand Pharmaceuticals by 57.4% during the fourth quarter. Lisanti Capital Growth LLC now owns 39,010 shares of the biotechnology company's stock worth $4,180,000 after buying an additional 14,225 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth approximately $2,339,000. Finally, Arizona State Retirement System grew its position in shares of Ligand Pharmaceuticals by 2.4% during the fourth quarter. Arizona State Retirement System now owns 5,297 shares of the biotechnology company's stock worth $568,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LGND. StockNews.com raised shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday. HC Wainwright reissued a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Benchmark reissued a "buy" rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. 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, December 16th. Finally, Royal Bank of Canada raised their price target 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

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Ligand Pharmaceuticals Stock Down 1.2 %

LGND stock traded down $1.26 during trading on Friday, hitting $108.15. 280,792 shares of the company's stock traded hands, compared to its average volume of 120,371. Ligand Pharmaceuticals Incorporated has a 52 week low of $67.72 and a 52 week high of $129.90. The stock has a fifty day moving average price of $114.21 and a two-hundred day moving average price of $111.75. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 43.09 and a beta of 1.12.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the transaction, the chief financial officer now owns 18,879 shares in the company, valued at approximately $2,171,651.37. This represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.90% of the stock is owned by insiders.

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.