Ligand Pharmaceuticals Inc. (NASDAQ:LGND) traded down 2.1% on Friday . The company traded as low as $125.53 and last traded at $126.03, with a volume of 277,157 shares changing hands. The stock had previously closed at $128.72.

Several equities research analysts recently weighed in on LGND shares. Roth Capital reissued a “buy” rating and set a $147.00 price objective on shares of Ligand Pharmaceuticals in a report on Saturday, July 9th. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Stephens started coverage on Ligand Pharmaceuticals in a report on Wednesday, April 13th. They set an “overweight” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $143.80.

The company has a market cap of $2.62 billion and a PE ratio of 10.37. The company has a 50-day moving average of $118.89 and a 200 day moving average of $109.68.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Wednesday, May 4th. The biotechnology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.30. The business had revenue of $29.60 million for the quarter, compared to the consensus estimate of $26.45 million. The company’s revenue was up 102.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. On average, analysts anticipate that Ligand Pharmaceuticals Inc. will post $3.30 earnings per share for the current fiscal year.

In other news, Director John W. Kozarich sold 1,000 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $121.57, for a total value of $121,570.00. Following the transaction, the director now owns 43,911 shares of the company’s stock, valued at $5,338,260.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Melanie J. Herman sold 334 shares of the company’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $120.50, for a total transaction of $40,247.00. Following the completion of the transaction, the director now directly owns 3,297 shares in the company, valued at approximately $397,288.50. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Navellier & Associates Inc boosted its position in Ligand Pharmaceuticals by 126.3% in the fourth quarter. Navellier & Associates Inc now owns 9,627 shares of the biotechnology company’s stock valued at $1,044,000 after buying an additional 5,373 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Ligand Pharmaceuticals by 1.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 12,628 shares of the biotechnology company’s stock valued at $1,368,000 after buying an additional 149 shares during the last quarter. State of Tennessee Treasury Department purchased a new position in Ligand Pharmaceuticals during the fourth quarter valued at $1,518,000. Comerica Bank boosted its position in Ligand Pharmaceuticals by 0.8% in the fourth quarter. Comerica Bank now owns 18,385 shares of the biotechnology company’s stock valued at $1,800,000 after buying an additional 146 shares during the last quarter. Finally, Matarin Capital Management LLC purchased a new position in Ligand Pharmaceuticals during the fourth quarter valued at $1,963,000.

Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.

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