Ligand Pharmaceuticals (LGND) Sets New 12-Month Low at $132.05

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) reached a new 52-week low on Monday . The stock traded as low as $132.05 and last traded at $134.00, with a volume of 16304 shares trading hands. The stock had previously closed at $136.86.

Several research firms have weighed in on LGND. HC Wainwright set a $270.00 price objective on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, September 19th. BidaskClub cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. ValuEngine cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Argus set a $300.00 price objective on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Ligand Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $244.43.

The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.19 and a current ratio of 2.20. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 51.54, a PEG ratio of 1.16 and a beta of 1.50.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, November 8th. The biotechnology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.29. Ligand Pharmaceuticals had a net margin of 73.78% and a return on equity of 26.17%. The firm had revenue of $45.66 million during the quarter, compared to analysts’ expectations of $41.99 million. During the same quarter last year, the company posted $0.69 EPS. The company’s quarterly revenue was up 36.8% compared to the same quarter last year. As a group, equities research analysts forecast that Ligand Pharmaceuticals Inc. will post 5.91 earnings per share for the current year.

In other news, Director John W. Kozarich sold 2,500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $275.04, for a total transaction of $687,600.00. Following the completion of the sale, the director now owns 26,142 shares in the company, valued at approximately $7,190,095.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Matthew W. Foehr sold 12,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $273.88, for a total transaction of $3,286,560.00. Following the sale, the chief operating officer now owns 105,388 shares of the company’s stock, valued at approximately $28,863,665.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,000 shares of company stock valued at $4,609,135. 7.80% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of LGND. BlackRock Inc. grew its position in shares of Ligand Pharmaceuticals by 8.3% during the 2nd quarter. BlackRock Inc. now owns 3,264,974 shares of the biotechnology company’s stock worth $676,405,000 after buying an additional 251,145 shares during the period. Renaissance Technologies LLC grew its position in shares of Ligand Pharmaceuticals by 44.1% during the 3rd quarter. Renaissance Technologies LLC now owns 754,219 shares of the biotechnology company’s stock worth $207,026,000 after buying an additional 230,725 shares during the period. FMR LLC grew its position in shares of Ligand Pharmaceuticals by 21.8% during the 3rd quarter. FMR LLC now owns 536,632 shares of the biotechnology company’s stock worth $147,300,000 after buying an additional 96,048 shares during the period. Rehmann Capital Advisory Group grew its position in shares of Ligand Pharmaceuticals by 26,645.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 93,875 shares of the biotechnology company’s stock worth $342,000 after buying an additional 93,524 shares during the period. Finally, Vanguard Group Inc grew its position in shares of Ligand Pharmaceuticals by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after buying an additional 66,789 shares during the period.

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About Ligand Pharmaceuticals (NASDAQ:LGND)

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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