Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Monday.
Several other equities analysts also recently issued reports on the stock. HC Wainwright reissued a "buy" rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Benchmark restated a "buy" rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Barclays raised their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada boosted their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $147.00.
Check Out Our Latest Research Report on Ligand Pharmaceuticals
Ligand Pharmaceuticals Price Performance
LGND traded down $2.47 during trading on Monday, hitting $105.62. The company's stock had a trading volume of 120,884 shares, compared to its average volume of 124,509. Ligand Pharmaceuticals has a twelve month low of $67.72 and a twelve month high of $129.90. The stock has a market cap of $2.03 billion, a PE ratio of 42.08 and a beta of 1.12. The firm's 50 day moving average price is $114.44 and its 200-day moving average price is $111.70.
Insider Buying and Selling
In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the firm's 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 completion of the sale, the chief financial officer now directly owns 18,879 shares of the company's stock, 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 filing with the SEC, which is available through this link. 5.90% of the stock is owned by company insiders.
Institutional Investors Weigh In On Ligand Pharmaceuticals
A number of institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of Ligand Pharmaceuticals by 119.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock valued at $43,000 after buying an additional 221 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Ligand Pharmaceuticals during the fourth quarter valued at approximately $43,000. Redwood Park Advisors LLC purchased a new position in Ligand Pharmaceuticals during the 4th quarter valued at about $48,000. Sterling Capital Management LLC grew 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 worth $59,000 after buying an additional 487 shares during the last quarter. Finally, US Bancorp DE raised its stake 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 buying an additional 98 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.
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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