Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $105.98 and traded as high as $111.65. Ligand Pharmaceuticals shares last traded at $110.31, with a volume of 94,566 shares traded.
Wall Street Analyst Weigh In
LGND has been the topic of several analyst reports. HC Wainwright reiterated a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Barclays increased 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. Benchmark reaffirmed a "buy" rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Royal Bank of Canada lifted their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Finally, Oppenheimer upped their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $147.00.
Read Our Latest Analysis on LGND
Ligand Pharmaceuticals Stock Up 0.2 %
The company has a fifty day moving average of $115.91 and a 200 day moving average of $105.98. The company has a market cap of $2.09 billion, a P/E ratio of 44.06 and a beta of 1.05.
Insider Buying and Selling
In related news, CFO Octavio Espinoza sold 2,104 shares of the business's 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 completion of the transaction, the chief financial officer now directly owns 20,647 shares in the company, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Lamattina sold 2,406 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the sale, the director now owns 29,515 shares in the company, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Ligand Pharmaceuticals
A number of hedge funds have recently modified their holdings of LGND. Barclays PLC lifted its stake in shares of Ligand Pharmaceuticals by 20.0% during the 3rd quarter. Barclays PLC now owns 43,456 shares of the biotechnology company's stock valued at $4,349,000 after buying an additional 7,247 shares in the last quarter. Geode Capital Management LLC raised its holdings in Ligand Pharmaceuticals by 5.5% during the third quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock valued at $42,874,000 after acquiring an additional 22,495 shares during the period. Fisher Asset Management LLC lifted its position in shares of Ligand Pharmaceuticals by 12.4% in the third quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company's stock valued at $5,963,000 after acquiring an additional 6,555 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Ligand Pharmaceuticals by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 163,924 shares of the biotechnology company's stock worth $16,407,000 after acquiring an additional 8,584 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Ligand Pharmaceuticals by 16.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 115,480 shares of the biotechnology company's stock worth $11,558,000 after purchasing an additional 16,446 shares in the last quarter. 91.28% of the stock is currently owned by 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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