Dimensional Fund Advisors LP Increases Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Dimensional Fund Advisors LP increased its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 723,019 shares of the biotechnology company's stock after purchasing an additional 16,003 shares during the period. Dimensional Fund Advisors LP owned 3.83% of Ligand Pharmaceuticals worth $77,470,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LGND. Yousif Capital Management LLC grew its holdings in shares of Ligand Pharmaceuticals by 1.4% in the fourth quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company's stock valued at $771,000 after purchasing an additional 96 shares in the last quarter. US Bancorp DE lifted its position in Ligand Pharmaceuticals by 14.8% during the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock valued at $81,000 after purchasing an additional 98 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Ligand Pharmaceuticals by 4.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 2,862 shares of the biotechnology company's stock worth $307,000 after buying an additional 115 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Ligand Pharmaceuticals by 2.4% in the 4th quarter. Arizona State Retirement System now owns 5,297 shares of the biotechnology company's stock worth $568,000 after buying an additional 125 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Ligand Pharmaceuticals by 3.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,034 shares of the biotechnology company's stock valued at $432,000 after buying an additional 129 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on LGND shares. Stifel Nicolaus began coverage on Ligand Pharmaceuticals in a research report on Thursday, April 10th. They issued a "buy" rating and a $143.00 price target for the company. StockNews.com upgraded Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $146.43.

Ligand Pharmaceuticals Stock Performance

NASDAQ LGND traded down $0.60 during trading on Tuesday, hitting $105.75. The stock had a trading volume of 12,539 shares, compared to its average volume of 118,912. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 42.26 and a beta of 1.07. The stock has a 50 day simple moving average of $107.58 and a 200 day simple moving average of $112.56. Ligand Pharmaceuticals Incorporated has a one year low of $72.61 and a one year 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.