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

Pictet Asset Management Holding SA increased its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 owned about 0.42% of Ligand Pharmaceuticals worth $8,478,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings 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 worth $43,000 after purchasing an additional 221 shares during the last quarter. US Bancorp DE lifted its position in shares of Ligand Pharmaceuticals by 14.8% during the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 98 shares in the last quarter. KBC Group NV grew its stake in shares of Ligand Pharmaceuticals by 49.7% during the fourth quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 300 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Ligand Pharmaceuticals in the fourth quarter valued at approximately $172,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Ligand Pharmaceuticals in the 3rd quarter worth approximately $180,000. 91.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Octavio Espinoza sold 5,000 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 18,879 shares in the company, valued at $2,171,651.37. This represents a 20.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals Price Performance

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LGND shares. 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 note on Wednesday, December 11th. Benchmark reiterated a “buy” rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. StockNews.com raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Finally, Barclays increased their price objective 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.