Amundi Purchases 6,332 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Amundi increased its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 196.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,548 shares of the biotechnology company’s stock after buying an additional 6,332 shares during the quarter. Amundi’s holdings in Ligand Pharmaceuticals were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Yousif Capital Management LLC boosted its holdings in shares of Ligand Pharmaceuticals by 1.4% during the 4th quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock worth $771,000 after buying an additional 96 shares during the period. US Bancorp DE boosted its holdings 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 worth $81,000 after buying an additional 98 shares during the period. Mutual of America Capital Management LLC boosted its holdings 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 worth $307,000 after buying an additional 115 shares during the period. Arizona State Retirement System boosted its holdings in shares of Ligand Pharmaceuticals by 2.4% during the 4th quarter. Arizona State Retirement System now owns 5,297 shares of the biotechnology company’s stock worth $568,000 after buying an additional 125 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Ligand Pharmaceuticals by 3.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,442 shares of the biotechnology company’s stock valued at $476,000 after purchasing an additional 132 shares during the period. 91.28% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Octavio Espinoza sold 2,104 shares of Ligand Pharmaceuticals stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $116.37, for a total transaction of $244,842.48. Following the sale, the chief financial officer now directly owns 20,647 shares in the company, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LGND shares. HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Barclays increased 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. Benchmark reissued a “buy” rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Royal Bank of Canada increased 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, StockNews.com raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Ligand Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Ligand Pharmaceuticals Stock Performance

Shares of Ligand Pharmaceuticals stock opened at $106.22 on Wednesday. The firm’s 50-day simple moving average is $114.25 and its 200-day simple moving average is $111.77. Ligand Pharmaceuticals Incorporated has a twelve month low of $67.72 and a twelve month high of $129.90. The firm has a market cap of $2.05 billion, a P/E ratio of 42.32 and a beta of 1.12.

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.