Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $108.27 and traded as high as $115.81. Ligand Pharmaceuticals shares last traded at $115.03, with a volume of 77,219 shares traded.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. HC Wainwright reissued a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Barclays lifted their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. Royal Bank of Canada increased their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Oppenheimer lifted their price objective 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. Finally, Benchmark reissued a "buy" rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $147.00.
Get Our Latest Analysis on LGND
Ligand Pharmaceuticals Price Performance
The company has a market cap of $2.17 billion, a P/E ratio of 45.83 and a beta of 1.05. The stock has a fifty day moving average price of $114.76 and a two-hundred day moving average price of $108.39.
Insiders Place Their Bets
In related news, CFO Octavio Espinoza sold 2,104 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total value of $244,842.48. Following the sale, the chief financial officer now owns 20,647 shares of the company's stock, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Lamattina sold 2,406 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following the transaction, the director now directly owns 29,515 shares of the company's stock, valued at approximately $3,649,529.75. This trade represents a 7.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Chicago Capital LLC raised its stake in Ligand Pharmaceuticals by 1.1% in the 4th quarter. Chicago Capital LLC now owns 551,588 shares of the biotechnology company's stock valued at $59,103,000 after acquiring an additional 5,767 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Ligand Pharmaceuticals by 14.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,007 shares of the biotechnology company's stock worth $429,000 after purchasing an additional 493 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Ligand Pharmaceuticals in the fourth quarter valued at approximately $839,000. KBC Group NV lifted its stake in shares of Ligand Pharmaceuticals by 49.7% during the 4th quarter. KBC Group NV now owns 904 shares of the biotechnology company's stock valued at $97,000 after buying an additional 300 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Ligand Pharmaceuticals in the 4th quarter worth approximately $172,000. 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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