NFJ Investment Group LLC Makes New $1.27 Million Investment in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

NFJ Investment Group LLC acquired a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,847 shares of the biotechnology company's stock, valued at approximately $1,269,000. NFJ Investment Group LLC owned 0.06% of Ligand Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its stake in Ligand Pharmaceuticals by 5.5% during the 3rd quarter. HighTower Advisors LLC now owns 5,142 shares of the biotechnology company's stock valued at $518,000 after acquiring an additional 266 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Ligand Pharmaceuticals by 16.7% in the 3rd quarter. Stifel Financial Corp now owns 15,949 shares of the biotechnology company's stock worth $1,596,000 after buying an additional 2,288 shares during the last quarter. MML Investors Services LLC bought a new position in shares of Ligand Pharmaceuticals in the third quarter valued at approximately $210,000. Barclays PLC increased its position in shares of Ligand Pharmaceuticals by 20.0% during the third quarter. Barclays PLC now owns 43,456 shares of the biotechnology company's stock valued at $4,349,000 after acquiring an additional 7,247 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Ligand Pharmaceuticals by 5.5% in the third quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock worth $42,874,000 after purchasing an additional 22,495 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Ligand Pharmaceuticals Trading Down 0.4 %

Shares of NASDAQ LGND traded down $0.44 during midday trading on Wednesday, hitting $106.03. 78,347 shares of the company's stock were exchanged, compared to its average volume of 120,387. The business's fifty day moving average price is $109.54 and its two-hundred day moving average price is $112.21. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 42.24 and a beta of 1.07. Ligand Pharmaceuticals Incorporated has a 12-month low of $68.50 and a 12-month high of $129.90.

Wall Street Analysts Forecast Growth

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

Insider Activity at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction 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 trade represents a 20.94 % decrease in their ownership of the stock. The sale 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.

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.