Ligand Pharmaceuticals (LGND) Sets New 52-Week High and Low at $194.75

Ligand Pharmaceuticals (NASDAQ:LGND) shares reached a new 52-week high and low during mid-day trading on Friday . The stock traded as low as $194.75 and last traded at $194.99, with a volume of 1231287 shares changing hands. The stock had previously closed at $191.14.

A number of research firms have weighed in on LGND. HC Wainwright reissued a “buy” rating and set a $182.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday, May 9th. TheStreet raised shares of Ligand Pharmaceuticals from a “c+” rating to an “a-” rating in a research report on Wednesday, May 9th. BidaskClub raised shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 8th. ValuEngine raised shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Roth Capital increased their target price on shares of Ligand Pharmaceuticals from $158.00 to $171.00 and gave the company a “buy” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $161.00.

The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 75.87, a P/E/G ratio of 1.80 and a beta of 0.92. The company has a current ratio of 1.41, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Tuesday, May 8th. The biotechnology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.26. The business had revenue of $56.16 million during the quarter, compared to the consensus estimate of $43.02 million. Ligand Pharmaceuticals had a net margin of 31.40% and a return on equity of 19.10%. The company’s revenue for the quarter was up 91.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. equities research analysts anticipate that Ligand Pharmaceuticals will post 4.33 earnings per share for the current year.

In other news, Director Todd C. Davis sold 17,170 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $152.37, for a total transaction of $2,616,192.90. Following the completion of the sale, the director now owns 65,898 shares of the company’s stock, valued at approximately $10,040,878.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen L. Sabba sold 622 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $180.73, for a total transaction of $112,414.06. Following the sale, the director now directly owns 26,363 shares of the company’s stock, valued at approximately $4,764,584.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,274 shares of company stock valued at $10,067,966. Insiders own 8.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ligand Pharmaceuticals by 48.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock worth $151,000 after buying an additional 359 shares during the period. M&T Bank Corp grew its position in shares of Ligand Pharmaceuticals by 22.9% during the 4th quarter. M&T Bank Corp now owns 1,947 shares of the biotechnology company’s stock worth $267,000 after buying an additional 363 shares during the period. Mason Street Advisors LLC grew its position in shares of Ligand Pharmaceuticals by 6.7% during the 1st quarter. Mason Street Advisors LLC now owns 5,855 shares of the biotechnology company’s stock worth $967,000 after buying an additional 366 shares during the period. Meadow Creek Investment Management LLC grew its position in shares of Ligand Pharmaceuticals by 27.9% during the 4th quarter. Meadow Creek Investment Management LLC now owns 1,760 shares of the biotechnology company’s stock worth $241,000 after buying an additional 384 shares during the period. Finally, Willingdon Wealth Management grew its position in shares of Ligand Pharmaceuticals by 2.7% during the 4th quarter. Willingdon Wealth Management now owns 15,075 shares of the biotechnology company’s stock worth $2,064,000 after buying an additional 395 shares during the period.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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