Pictet Asset Management Holding SA Buys 1,640 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Pictet Asset Management Holding SA lifted its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,126 shares of the biotechnology company’s stock after acquiring an additional 1,640 shares during the period. Pictet Asset Management Holding SA’s holdings in Ligand Pharmaceuticals were worth $8,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Ligand Pharmaceuticals by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company’s stock worth $223,475,000 after purchasing an additional 115,005 shares during the period. Franklin Resources Inc. boosted its position in shares of Ligand Pharmaceuticals by 503.5% during the third quarter. Franklin Resources Inc. now owns 94,659 shares of the biotechnology company’s stock worth $9,793,000 after buying an additional 78,973 shares during the period. Norges Bank bought a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth about $4,960,000. Fisher Asset Management LLC raised its position in Ligand Pharmaceuticals by 68.9% in the 4th quarter. Fisher Asset Management LLC now owns 100,638 shares of the biotechnology company’s stock valued at $10,783,000 after buying an additional 41,064 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in Ligand Pharmaceuticals by 6.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 397,700 shares of the biotechnology company’s stock valued at $42,614,000 after acquiring an additional 24,921 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Octavio Espinoza sold 5,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 18,879 shares of the company’s stock, valued at approximately $2,171,651.37. The trade was a 20.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Ligand Pharmaceuticals Stock Performance

Shares of LGND stock opened at $108.73 on Thursday. Ligand Pharmaceuticals Incorporated has a 52-week low of $67.72 and a 52-week high of $129.90. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 43.32 and a beta of 1.12. The firm’s 50-day moving average is $113.67 and its 200-day moving average is $112.13.

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.