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

Swiss National Bank raised its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 2.6% in the 4th quarter, HoldingsChannel reports. The fund owned 36,000 shares of the biotechnology company’s stock after buying an additional 900 shares during the quarter. Swiss National Bank’s holdings in Ligand Pharmaceuticals were worth $3,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LGND. Smartleaf Asset Management LLC grew its stake in shares of Ligand Pharmaceuticals by 119.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 221 shares during the last quarter. US Bancorp DE lifted its holdings in 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 in the last quarter. KBC Group NV boosted its position in Ligand Pharmaceuticals by 49.7% in the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 300 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 4th quarter valued at $172,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Ligand Pharmaceuticals during the third quarter worth $180,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Performance

LGND opened at $109.69 on Wednesday. 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 $2.11 billion, a PE ratio of 43.70 and a beta of 1.12. The firm’s fifty day moving average is $114.35 and its two-hundred day moving average is $112.01.

Insiders Place Their Bets

In other news, CFO Octavio Espinoza sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the transaction, the chief financial officer now owns 18,879 shares in the company, valued at $2,171,651.37. The trade was a 20.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

LGND has been the topic of several recent research reports. Barclays raised their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. StockNews.com upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, March 18th. Benchmark reissued a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada upped their target price on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Ligand Pharmaceuticals Company 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.