Geode Capital Management LLC Acquires 22,495 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Geode Capital Management LLC raised its holdings 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 fund owned 428,270 shares of the biotechnology company’s stock after purchasing an additional 22,495 shares during the quarter. Geode Capital Management LLC owned 2.27% of Ligand Pharmaceuticals worth $42,874,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Barclays PLC increased its stake in Ligand Pharmaceuticals by 20.0% in the 3rd quarter. Barclays PLC now owns 43,456 shares of the biotechnology company’s stock worth $4,349,000 after buying an additional 7,247 shares during the period. MML Investors Services LLC purchased a new position in shares of Ligand Pharmaceuticals during the third quarter worth approximately $210,000. Castleark Management LLC raised its stake in shares of Ligand Pharmaceuticals by 10.7% during the third quarter. Castleark Management LLC now owns 67,923 shares of the biotechnology company’s stock valued at $6,798,000 after acquiring an additional 6,560 shares in the last quarter. State Street Corp increased its holdings in Ligand Pharmaceuticals by 2.7% during the 3rd quarter. State Street Corp now owns 707,414 shares of the biotechnology company’s stock worth $70,805,000 after purchasing an additional 18,642 shares during the period. Finally, Stifel Financial Corp raised its position in Ligand Pharmaceuticals by 16.7% during the 3rd quarter. Stifel Financial Corp now owns 15,949 shares of the biotechnology company’s stock valued at $1,596,000 after purchasing an additional 2,288 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Trading Down 0.7 %

Shares of LGND opened at $113.80 on Tuesday. The firm has a market cap of $2.15 billion, a PE ratio of 45.34 and a beta of 1.01. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.53 and a 12 month high of $129.90. The stock has a fifty day moving average price of $115.68 and a 200-day moving average price of $103.70.

Insiders Place Their Bets

In related news, Director John L. Lamattina sold 2,406 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following the completion of the transaction, the director now directly owns 29,515 shares of the company’s stock, valued at $3,649,529.75. This trade represents a 7.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on LGND shares. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Royal Bank of Canada lifted their price objective 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. Oppenheimer upped their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Barclays boosted their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price 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.