Charles Schwab Investment Management Inc. Increases Stock Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Charles Schwab Investment Management Inc. boosted its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,419 shares of the biotechnology company’s stock after purchasing an additional 6,495 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.90% of Ligand Pharmaceuticals worth $18,260,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of Ligand Pharmaceuticals by 119.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 221 shares in the last quarter. US Bancorp DE raised its position in shares of Ligand Pharmaceuticals by 14.8% during the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 98 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Ligand Pharmaceuticals by 68.9% during the 4th quarter. Fisher Asset Management LLC now owns 100,638 shares of the biotechnology company’s stock valued at $10,783,000 after buying an additional 41,064 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of Ligand Pharmaceuticals by 4.2% during the 4th quarter. Mutual of America Capital Management LLC now owns 2,862 shares of the biotechnology company’s stock valued at $307,000 after buying an additional 115 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Ligand Pharmaceuticals by 3.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,442 shares of the biotechnology company’s stock valued at $476,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Trading Up 1.7 %

Shares of NASDAQ:LGND opened at $108.03 on Thursday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 43.04 and a beta of 1.12. The firm’s 50-day moving average is $114.20 and its 200 day moving average is $111.75. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90.

Insiders Place Their Bets

In other Ligand Pharmaceuticals 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 value of $575,150.00. Following the transaction, the chief financial officer now directly owns 18,879 shares in the company, valued at $2,171,651.37. This represents a 20.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

LGND has been the topic of several recent research reports. StockNews.com upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Benchmark restated a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Barclays upped their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Royal Bank of Canada upped their price target on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Ligand Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $147.00.

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.