Swiss National Bank Has $3.86 Million Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Swiss National Bank lifted its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,000 shares of the biotechnology company’s stock after acquiring an additional 900 shares during the quarter. Swiss National Bank owned about 0.19% of Ligand Pharmaceuticals worth $3,857,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Barclays PLC grew its holdings in Ligand Pharmaceuticals by 20.0% in the 3rd quarter. Barclays PLC now owns 43,456 shares of the biotechnology company’s stock valued at $4,349,000 after buying an additional 7,247 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 22,495 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Ligand Pharmaceuticals by 12.4% in the third quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company’s stock worth $5,963,000 after acquiring an additional 6,555 shares during the last quarter. Yousif Capital Management LLC increased its position in Ligand Pharmaceuticals by 1.4% during the fourth quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock worth $771,000 after acquiring an additional 96 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Ligand Pharmaceuticals by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 163,924 shares of the biotechnology company’s stock valued at $16,407,000 after purchasing an additional 8,584 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Octavio Espinoza sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 18,879 shares in the company, valued at approximately $2,171,651.37. The trade was a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

LGND has been the topic of several research reports. Barclays boosted their price objective 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. Royal Bank of Canada boosted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. StockNews.com upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, March 18th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Ligand Pharmaceuticals Trading Down 1.8 %

Shares of LGND opened at $109.69 on Wednesday. The stock has a market cap of $2.11 billion, a PE ratio of 43.70 and a beta of 1.12. Ligand Pharmaceuticals Incorporated has a 1 year low of $67.72 and a 1 year high of $129.90. The stock has a 50 day simple moving average of $114.35 and a 200-day simple moving average of $112.01.

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.