Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Monday.
Several other equities research analysts have also recently commented on the company. Barclays increased their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Royal Bank of Canada lifted their price target on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a research note 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 reissued a "buy" rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.43.
Check Out Our Latest Analysis on Ligand Pharmaceuticals
Ligand Pharmaceuticals Stock Performance
Shares of NASDAQ:LGND traded up $2.98 during trading on Monday, reaching $104.27. 70,720 shares of the stock traded hands, compared to its average volume of 122,670. The stock has a market cap of $2.01 billion, a P/E ratio of 41.54 and a beta of 1.07. The stock has a 50-day moving average of $110.80 and a two-hundred day moving average of $111.98. Ligand Pharmaceuticals has a 52-week low of $67.72 and a 52-week high of $129.90.
Insiders Place Their Bets
In other news, CFO Octavio Espinoza sold 5,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total value of $575,150.00. Following the transaction, the chief financial officer now directly owns 18,879 shares in the company, valued at $2,171,651.37. The trade was a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.90% of the company's stock.
Institutional Trading of Ligand Pharmaceuticals
Institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in Ligand Pharmaceuticals by 119.5% in the 4th 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. GF Fund Management CO. LTD. bought a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth $43,000. Redwood Park Advisors LLC purchased a new position in Ligand Pharmaceuticals during the fourth quarter valued at $48,000. Sterling Capital Management LLC increased its holdings in 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 acquiring an additional 487 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Ligand Pharmaceuticals by 14.8% in the 4th 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. Hedge funds and other institutional investors own 91.28% of the company's stock.
About Ligand Pharmaceuticals
(
Get Free Report)
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.
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