Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Tuesday.
LGND has been the subject of several other research reports. Benchmark reaffirmed a "buy" rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Barclays upped their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research note 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. Finally, HC Wainwright restated a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.
Check Out Our Latest Stock Report on Ligand Pharmaceuticals
Ligand Pharmaceuticals Price Performance
LGND stock traded down $1.17 on Tuesday, reaching $108.24. 103,552 shares of the company were exchanged, compared to its average volume of 119,707. Ligand Pharmaceuticals has a 12 month low of $67.72 and a 12 month high of $129.90. The stock's fifty day moving average price is $114.18 and its 200 day moving average price is $111.73. The firm has a market capitalization of $2.08 billion, a PE ratio of 43.09 and a beta of 1.12.
Insiders Place Their Bets
In related news, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total transaction of $244,842.48. Following the sale, the chief financial officer now directly owns 20,647 shares in the company, valued at $2,402,691.39. This represents a 9.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.90% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in LGND. Yousif Capital Management LLC lifted its position in shares of Ligand Pharmaceuticals by 1.4% during the fourth quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company's stock worth $771,000 after purchasing an additional 96 shares in the last quarter. US Bancorp DE boosted its position in 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 during the last quarter. Mutual of America Capital Management LLC increased 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 valued at $307,000 after buying an additional 115 shares during the period. Arizona State Retirement System raised its position in shares of Ligand Pharmaceuticals by 2.4% during the fourth quarter. Arizona State Retirement System now owns 5,297 shares of the biotechnology company's stock worth $568,000 after acquiring an additional 125 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Ligand Pharmaceuticals by 3.3% during the fourth 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 acquiring an additional 129 shares during the period. Institutional investors and hedge funds 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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