Legato Capital Management LLC Increases Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Legato Capital Management LLC grew its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,058 shares of the biotechnology company’s stock after acquiring an additional 753 shares during the quarter. Legato Capital Management LLC owned about 0.10% of Ligand Pharmaceuticals worth $1,935,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its stake in Ligand Pharmaceuticals by 3.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the biotechnology company’s stock worth $975,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Ligand Pharmaceuticals by 3.0% during the 4th quarter. State of Alaska Department of Revenue now owns 10,739 shares of the biotechnology company’s stock worth $1,150,000 after acquiring an additional 314 shares during the period. Yousif Capital Management LLC lifted its position in 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 acquiring an additional 96 shares during the period. Chicago Capital LLC lifted its position in Ligand Pharmaceuticals by 1.1% during the 4th quarter. Chicago Capital LLC now owns 551,588 shares of the biotechnology company’s stock worth $59,103,000 after acquiring an additional 5,767 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in Ligand Pharmaceuticals by 14.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,007 shares of the biotechnology company’s stock worth $429,000 after acquiring an additional 493 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $116.37, for a total value of $244,842.48. Following the completion of the transaction, the chief financial officer now owns 20,647 shares of the company’s stock, valued at approximately $2,402,691.39. This represents a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Lamattina sold 2,406 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total value of $297,501.90. Following the completion of the transaction, the director now directly owns 29,515 shares of the company’s stock, valued at $3,649,529.75. The trade was a 7.54 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Ligand Pharmaceuticals Stock Down 1.2 %

Shares of LGND stock opened at $112.77 on Wednesday. The stock has a market cap of $2.13 billion, a PE ratio of 44.93 and a beta of 1.04. The business has a 50-day simple moving average of $114.23 and a 200-day simple moving average of $109.78. Ligand Pharmaceuticals Incorporated has a 52-week low of $67.72 and a 52-week high of $129.90.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays lifted their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Royal Bank of Canada lifted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Oppenheimer lifted their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $147.00.

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.