Ligand Pharmaceuticals Inc. (NASDAQ:LGND)’s share price reached a new 52-week high on Monday . The stock traded as high as $139.24 and last traded at $137.77, with a volume of 169,418 shares trading hands. The stock had previously closed at $134.88.

LGND has been the topic of several analyst reports. Roth Capital reiterated a “buy” rating and set a $147.00 target price on shares of Ligand Pharmaceuticals in a report on Tuesday, July 19th. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, April 12th. Finally, Stephens initiated coverage on Ligand Pharmaceuticals in a report on Wednesday, April 13th. They set an “overweight” rating and a $150.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $143.80.

The firm has a market cap of $2.88 billion and a P/E ratio of 11.40. The stock has a 50 day moving average of $123.06 and a 200-day moving average of $111.81.

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

In related news, 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 transaction, the director now directly owns 3,297 shares of the company’s stock, valued at $397,288.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Kozarich sold 1,000 shares of the company’s stock in a transaction on 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 in the company, valued at $5,205,996.20. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have bought and sold shares of LGND. Navellier & Associates Inc raised 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. increased its position in shares of 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 worth $1,368,000 after buying an additional 149 shares during the period. State of Tennessee Treasury Department purchased a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth approximately $1,518,000. Comerica Bank increased its position in shares of Ligand Pharmaceuticals by 0.8% in the fourth quarter. Comerica Bank now owns 18,385 shares of the biotechnology company’s stock worth $1,800,000 after buying an additional 146 shares during the period. Finally, Matarin Capital Management LLC purchased a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth approximately $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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