Loomis Sayles & Co. L P Purchases 24,921 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Loomis Sayles & Co. L P raised its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 397,700 shares of the biotechnology company’s stock after purchasing an additional 24,921 shares during the quarter. Loomis Sayles & Co. L P owned 2.10% of Ligand Pharmaceuticals worth $42,614,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prudential Financial Inc. increased its holdings in Ligand Pharmaceuticals by 1.3% during the fourth quarter. Prudential Financial Inc. now owns 102,995 shares of the biotechnology company’s stock valued at $11,036,000 after buying an additional 1,360 shares during the last quarter. Congress Wealth Management LLC DE grew its position in shares of Ligand Pharmaceuticals by 4.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 94,335 shares of the biotechnology company’s stock valued at $10,108,000 after acquiring an additional 4,014 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. KLP Kapitalforvaltning AS bought a new position in Ligand Pharmaceuticals in the 4th quarter worth $418,000. Finally, Sei Investments Co. raised its holdings in Ligand Pharmaceuticals by 2.5% in the 4th quarter. Sei Investments Co. now owns 27,482 shares of the biotechnology company’s stock worth $2,945,000 after purchasing an additional 677 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total value of $575,150.00. Following the completion of the transaction, the chief financial officer now owns 18,879 shares of the company’s stock, valued at approximately $2,171,651.37. This trade represents a 20.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.90% of the stock is currently owned by insiders.

Ligand Pharmaceuticals Trading Up 1.5 %

NASDAQ:LGND opened at $109.70 on Friday. The company has a market capitalization of $2.11 billion, a P/E ratio of 43.71 and a beta of 1.12. The business’s 50-day moving average is $114.28 and its 200 day moving average is $111.97. Ligand Pharmaceuticals Incorporated has a 12 month low of $67.72 and a 12 month high of $129.90.

About Ligand Pharmaceuticals

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.