Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report)'s share price fell 8.8% on Monday . The company traded as low as $114.77 and last traded at $111.49. 25,392 shares traded hands during trading, a decline of 72% from the average session volume of 90,821 shares. The stock had previously closed at $122.23.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on LGND. HC Wainwright reiterated a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Oppenheimer increased their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Barclays increased their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Benchmark reiterated a "buy" rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Finally, 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 research report on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $147.00.
Check Out Our Latest Report on Ligand Pharmaceuticals
Ligand Pharmaceuticals Stock Performance
The firm has a market capitalization of $2.21 billion, a P/E ratio of 45.75 and a beta of 1.12. The business has a fifty day moving average of $114.26 and a 200-day moving average of $111.51.
Insider Buying and Selling
In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the transaction, the chief financial officer now directly owns 18,879 shares of the company's stock, valued at approximately $2,171,651.37. This trade represents a 20.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.90% of the company's stock.
Hedge Funds Weigh In On Ligand Pharmaceuticals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LGND. Massachusetts Financial Services Co. MA bought a new position in Ligand Pharmaceuticals during the 4th quarter valued at $29,652,000. Vanguard Group Inc. boosted its stake in Ligand Pharmaceuticals by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company's stock valued at $223,475,000 after purchasing an additional 115,005 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Ligand Pharmaceuticals by 44.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 372,779 shares of the biotechnology company's stock valued at $37,312,000 after purchasing an additional 114,436 shares in the last quarter. Franklin Resources Inc. boosted its stake in Ligand Pharmaceuticals by 95.9% during the 4th quarter. Franklin Resources Inc. now owns 185,402 shares of the biotechnology company's stock valued at $19,866,000 after purchasing an additional 90,743 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in Ligand Pharmaceuticals by 70.0% during the 4th quarter. Driehaus Capital Management LLC now owns 162,771 shares of the biotechnology company's stock valued at $17,441,000 after purchasing an additional 67,033 shares in the last quarter. 91.28% of the stock is 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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