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

Charles Schwab Investment Management Inc. boosted its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,924 shares of the biotechnology company’s stock after acquiring an additional 8,584 shares during the period. Charles Schwab Investment Management Inc. owned 0.90% of Ligand Pharmaceuticals worth $16,407,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LGND. Chicago Capital LLC grew its stake in Ligand Pharmaceuticals by 124.3% during the second quarter. Chicago Capital LLC now owns 514,946 shares of the biotechnology company’s stock valued at $43,389,000 after acquiring an additional 285,350 shares in the last quarter. F M Investments LLC purchased a new position in Ligand Pharmaceuticals during the second quarter valued at approximately $11,350,000. Dimensional Fund Advisors LP grew its stake in Ligand Pharmaceuticals by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company’s stock valued at $59,707,000 after acquiring an additional 44,543 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Ligand Pharmaceuticals by 47.7% during the second quarter. Envestnet Asset Management Inc. now owns 79,612 shares of the biotechnology company’s stock valued at $6,708,000 after acquiring an additional 25,717 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in Ligand Pharmaceuticals during the third quarter valued at approximately $2,481,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Up 1.1 %

NASDAQ:LGND opened at $124.83 on Friday. Ligand Pharmaceuticals Incorporated has a 52 week low of $59.15 and a 52 week high of $129.90. The firm has a market capitalization of $2.36 billion, a P/E ratio of 49.73 and a beta of 1.01. The company has a fifty day moving average of $112.45 and a 200 day moving average of $101.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LGND shares. Benchmark boosted their price target on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. HC Wainwright reissued a “buy” rating and issued a $157.00 price target on shares of Ligand Pharmaceuticals in a research note on Friday, November 8th. Oppenheimer boosted their price target on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Barclays boosted their price target on shares of Ligand Pharmaceuticals from $125.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada boosted their price target on shares of Ligand Pharmaceuticals from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $144.83.

Insider Buying and Selling

In related news, COO Matthew E. Korenberg sold 6,275 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $104.10, for a total value of $653,227.50. Following the completion of the transaction, the chief operating officer now directly owns 50,777 shares in the company, valued at $5,285,885.70. This trade represents a 11.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Reardon sold 2,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $99.60, for a total transaction of $199,200.00. Following the sale, the insider now directly owns 22,534 shares in the company, valued at $2,244,386.40. This trade represents a 8.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,728 shares of company stock worth $2,271,575 in the last three months. 5.90% of the stock is owned by corporate insiders.

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.