Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) were down 1.9% on Thursday . The stock traded as low as $132.00 and last traded at $132.57, with a volume of 304,635 shares. The stock had previously closed at $135.12.

Several analysts have weighed in on LGND shares. Roth Capital reaffirmed a “buy” rating and set a $147.00 price objective on shares of Ligand Pharmaceuticals in a research note on Tuesday. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research note on Tuesday, May 10th. Finally, Stephens started coverage on shares of Ligand Pharmaceuticals in a research note on Wednesday, April 13th. They set an “overweight” rating and a $150.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $143.80.

The company’s 50 day moving average is $120.10 and its 200 day moving average is $110.29. The stock has a market capitalization of $2.75 billion and a PE ratio of 10.86.

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

In related news, Director Jason Aryeh sold 25,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $119.20, for a total transaction of $2,980,000.00. Following the sale, the director now directly owns 58,337 shares in the company, valued at approximately $6,953,770.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John W. Kozarich sold 1,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $121.57, for a total transaction of $121,570.00. Following the sale, the director now owns 43,911 shares in the company, valued at $5,338,260.27. The disclosure for this sale can be found here.

Other large investors have bought and sold shares of the company. Nationwide Fund Advisors increased its stake in Ligand Pharmaceuticals by 183.5% in the fourth quarter. Nationwide Fund Advisors now owns 32,279 shares of the biotechnology company’s stock valued at $3,500,000 after buying an additional 20,895 shares in the last quarter. California State Teachers Retirement System increased its stake in Ligand Pharmaceuticals by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 32,553 shares of the biotechnology company’s stock valued at $3,529,000 after buying an additional 515 shares in the last quarter. Sei Investments Co. increased its stake in Ligand Pharmaceuticals by 63.0% in the fourth quarter. Sei Investments Co. now owns 28,566 shares of the biotechnology company’s stock valued at $3,097,000 after buying an additional 11,040 shares in the last quarter. Rhumbline Advisers increased its stake in Ligand Pharmaceuticals by 13.4% in the fourth quarter. Rhumbline Advisers now owns 24,057 shares of the biotechnology company’s stock valued at $2,608,000 after buying an additional 2,846 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Ligand Pharmaceuticals by 6.2% in the fourth quarter. California Public Employees Retirement System now owns 61,300 shares of the biotechnology company’s stock valued at $6,646,000 after buying an additional 3,600 shares in the last quarter.

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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