Loomis Sayles & Co. L P raised its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,700 shares of the biotechnology company's stock after purchasing an additional 24,921 shares during the quarter. Loomis Sayles & Co. L P owned about 2.10% of Ligand Pharmaceuticals worth $42,614,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Ligand Pharmaceuticals by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company's stock valued at $223,475,000 after purchasing an additional 115,005 shares during the period. State Street Corp boosted its holdings in shares of Ligand Pharmaceuticals by 2.7% during the third quarter. State Street Corp now owns 707,414 shares of the biotechnology company's stock valued at $70,805,000 after acquiring an additional 18,642 shares during the period. Congress Asset Management Co. boosted its stake in 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 during the period. Chicago Capital LLC grew its holdings in Ligand Pharmaceuticals by 1.1% in the 4th quarter. Chicago Capital LLC now owns 551,588 shares of the biotechnology company's stock worth $59,103,000 after buying an additional 5,767 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Ligand Pharmaceuticals by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock worth $42,874,000 after acquiring an additional 22,495 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.
Ligand Pharmaceuticals Stock Performance
NASDAQ:LGND traded up $2.07 during trading hours on Tuesday, hitting $107.21. 26,978 shares of the company's stock traded hands, compared to its average volume of 123,331. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90. The firm has a market cap of $2.06 billion, a P/E ratio of 42.62 and a beta of 1.12. The stock's fifty day moving average price is $114.06 and its two-hundred day moving average price is $112.15.
Insider Activity
In other news, CFO Octavio Espinoza sold 5,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total value of $575,150.00. Following the transaction, the chief financial officer now directly owns 18,879 shares of the company's stock, 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 SEC, which can be accessed through this link. 5.90% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts recently commented on LGND shares. Benchmark reiterated a "buy" rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Royal Bank of Canada raised their price objective on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Barclays boosted their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. StockNews.com upgraded Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, March 18th. Finally, HC Wainwright restated a "buy" rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.
Get Our Latest Analysis on Ligand Pharmaceuticals
About Ligand Pharmaceuticals
(
Free Report)
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.
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