UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 10,563 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 26.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,401 shares of the biotechnology company's stock after acquiring an additional 10,563 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.27% of Ligand Pharmaceuticals worth $5,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in Ligand Pharmaceuticals by 119.5% in 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 period. Redwood Park Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals in the 4th quarter valued at $48,000. Sterling Capital Management LLC raised its stake in shares of Ligand Pharmaceuticals by 825.4% in the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock valued at $59,000 after buying an additional 487 shares in the last quarter. US Bancorp DE raised its stake in shares of Ligand Pharmaceuticals by 14.8% in the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock valued at $81,000 after buying an additional 98 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Ligand Pharmaceuticals by 317.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 810 shares of the biotechnology company's stock valued at $87,000 after acquiring an additional 616 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Activity

In other news, CFO Octavio Espinoza purchased 1,500 shares of the company's stock in a transaction dated Friday, May 9th. The stock was bought at an average cost of $104.06 per share, for a total transaction of $156,090.00. Following the purchase, the chief financial officer now owns 27,932 shares of the company's stock, valued at approximately $2,906,603.92. The trade was a 5.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd C. Davis purchased 9,510 shares of the business's stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of $105.20 per share, for a total transaction of $1,000,452.00. Following the completion of the purchase, the chief executive officer now directly owns 161,234 shares of the company's stock, valued at approximately $16,961,816.80. This represents a 6.27% increase in their position. The disclosure for this purchase can be found here. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on LGND. Stifel Nicolaus assumed coverage on Ligand Pharmaceuticals in a research report on Thursday, April 10th. They set a "buy" rating and a $143.00 target price for the company. Wall Street Zen lowered Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Finally, Oppenheimer boosted their target price on shares of Ligand Pharmaceuticals from $142.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $146.14.

Ligand Pharmaceuticals Stock Up 1.7%

LGND traded up $1.81 during trading hours on Friday, hitting $105.99. 91,810 shares of the company's stock were exchanged, compared to its average volume of 115,957. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 42.23 and a beta of 0.83. Ligand Pharmaceuticals Incorporated has a 1-year low of $77.43 and a 1-year high of $129.90. The stock's 50-day moving average is $104.32 and its two-hundred day moving average is $110.86.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biotechnology company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.23 by $0.10. Ligand Pharmaceuticals had a return on equity of 4.95% and a net margin of 29.68%. The firm had revenue of $45.33 million during the quarter, compared to analysts' expectations of $37.84 million. During the same period in the prior year, the firm posted $3.84 earnings per share. On average, equities research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current year.

Ligand Pharmaceuticals 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.