Invesco Ltd. Grows Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Invesco Ltd. lifted its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,355 shares of the biotechnology company's stock after buying an additional 5,627 shares during the quarter. Invesco Ltd. owned about 1.03% of Ligand Pharmaceuticals worth $20,825,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Ligand Pharmaceuticals by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company's stock worth $223,475,000 after acquiring an additional 115,005 shares during the period. Congress Asset Management Co. boosted its position in shares of Ligand Pharmaceuticals by 2.9% during the 4th quarter. Congress Asset Management Co. now owns 621,482 shares of the biotechnology company's stock valued at $66,592,000 after purchasing an additional 17,444 shares in the last quarter. Chicago Capital LLC grew its stake in Ligand Pharmaceuticals by 1.1% during the fourth quarter. Chicago Capital LLC now owns 551,588 shares of the biotechnology company's stock worth $59,103,000 after purchasing an additional 5,767 shares during the period. Geode Capital Management LLC increased its holdings in Ligand Pharmaceuticals by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 438,441 shares of the biotechnology company's stock worth $46,989,000 after purchasing an additional 10,171 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in Ligand Pharmaceuticals by 6.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 397,700 shares of the biotechnology company's stock valued at $42,614,000 after buying an additional 24,921 shares during the period. Institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Price Performance

Shares of NASDAQ LGND traded up $0.89 during mid-day trading on Thursday, reaching $106.65. 9,794 shares of the company's stock traded hands, compared to its average volume of 120,236. The business has a 50-day simple moving average of $109.25 and a 200 day simple moving average of $112.17. The stock has a market cap of $2.05 billion, a P/E ratio of 42.49 and a beta of 1.07. Ligand Pharmaceuticals Incorporated has a 1-year low of $69.17 and a 1-year high of $129.90.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total value of $575,150.00. Following the transaction, the chief financial officer now owns 18,879 shares in the company, valued at $2,171,651.37. This trade represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LGND shares. Stifel Nicolaus initiated coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, April 10th. They issued a "buy" rating and a $143.00 price objective for the company. StockNews.com raised shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.43.

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.