Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Position Increased by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,085,627 shares of the biotechnology company's stock after purchasing an additional 115,005 shares during the period. Vanguard Group Inc. owned approximately 11.04% of Ligand Pharmaceuticals worth $223,475,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in LGND. Smartleaf Asset Management LLC increased its position in Ligand Pharmaceuticals by 119.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock worth $43,000 after purchasing an additional 221 shares in the last quarter. US Bancorp DE increased its position in shares of Ligand Pharmaceuticals by 14.8% in the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock worth $81,000 after acquiring an additional 98 shares in the last quarter. KBC Group NV increased its position in shares of Ligand Pharmaceuticals by 49.7% in the fourth quarter. KBC Group NV now owns 904 shares of the biotechnology company's stock worth $97,000 after acquiring an additional 300 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Ligand Pharmaceuticals in the 4th quarter valued at $172,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Ligand Pharmaceuticals during the 3rd quarter worth $180,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of brokerages have commented on LGND. Benchmark restated a "buy" rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Barclays increased their price objective on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. HC Wainwright reissued a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Stifel Nicolaus started coverage on shares of Ligand Pharmaceuticals in a research note on Thursday. They set a "buy" rating and a $143.00 price target on the stock. Finally, Royal Bank of Canada upped 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. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Ligand Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $146.43.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.90% of the company's stock.

Ligand Pharmaceuticals Price Performance

NASDAQ:LGND traded down $2.56 during mid-day trading on Thursday, reaching $101.29. The stock had a trading volume of 115,944 shares, compared to its average volume of 122,972. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 40.35 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. The stock's 50 day simple moving average is $111.06 and its two-hundred day simple moving average is $111.94.

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.