Ligand Pharmaceuticals Inc. (NASDAQ:LGND) shares 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 traded. The stock had previously closed at $135.12.

LGND has been the topic of a number of analyst reports. Roth Capital restated a “buy” rating and set a $147.00 target price on shares of Ligand Pharmaceuticals in a research note on Saturday, April 9th. Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, April 12th. Finally, Stephens initiated coverage on shares of Ligand Pharmaceuticals in a research note on Wednesday, April 13th. They set an “overweight” rating and a $150.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $143.80.

The company has a market cap of $2.76 billion and a price-to-earnings ratio of 10.91. The company has a 50 day moving average of $120.48 and a 200 day moving average of $110.50.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.30. During the same period in the previous year, the business earned $0.33 earnings per share. The company had revenue of $29.60 million for the quarter, compared to analysts’ expectations of $26.45 million. The business’s revenue for the quarter was up 102.7% on a year-over-year basis. On average, equities analysts forecast that Ligand Pharmaceuticals Inc. will post $3.30 earnings per share for the current year.

In other news, Director John W. Kozarich sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $121.40, for a total value of $121,400.00. Following the transaction, the director now directly owns 42,883 shares of the company’s stock, valued at $5,205,996.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Melanie J. Herman sold 334 shares of the firm’s stock in a transaction dated 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 $397,288.50. The disclosure for this sale can be found here.

A number of large investors have recently added to or reduced their stakes in LGND. Nationwide Fund Advisors boosted 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 during the last quarter. California State Teachers Retirement System boosted 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 during the last quarter. Sei Investments Co. boosted 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 during the last quarter. Rhumbline Advisers boosted 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 during the last quarter. Finally, California Public Employees Retirement System boosted 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 during 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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