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

Several research analysts have commented on the company. Roth Capital reaffirmed a “buy” rating and issued a $147.00 price target on shares of Ligand Pharmaceuticals in a research report on Tuesday, July 19th. Zacks Investment Research cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. Finally, Stephens started coverage on Ligand Pharmaceuticals in a research report on Wednesday, April 13th. They set an “overweight” rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $143.80.

The company has a market cap of $2.76 billion and a price-to-earnings ratio of 10.92. The company’s 50 day moving average is $124.32 and its 200 day moving average is $112.58.

In other news, Director Melanie J. Herman sold 334 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $120.50, for a total value of $40,247.00. Following the completion of the sale, 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 SEC, which is accessible through this link. Also, Director Jason Aryeh sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $119.20, for a total value of $2,980,000.00. Following the completion of the sale, the director now directly owns 58,337 shares of the company’s stock, valued at $6,953,770.40. The disclosure for this sale can be found here.

Several hedge funds have added to or reduced their stakes in the stock. Airain ltd acquired a new stake in Ligand Pharmaceuticals during the fourth quarter worth about $3,205,000. State of Tennessee Treasury Department acquired a new stake in Ligand Pharmaceuticals during the fourth quarter worth about $1,518,000. Matarin Capital Management LLC acquired a new stake in Ligand Pharmaceuticals during the fourth quarter worth about $1,963,000. Redwood Investments LLC boosted its stake in Ligand Pharmaceuticals by 18.3% in the fourth quarter. Redwood Investments LLC now owns 18,759 shares of the biotechnology company’s stock worth $2,034,000 after buying an additional 2,903 shares during the last quarter. Finally, Navellier & Associates Inc boosted its stake in Ligand Pharmaceuticals by 126.3% in the fourth quarter. Navellier & Associates Inc now owns 9,627 shares of the biotechnology company’s stock worth $1,044,000 after buying an additional 5,373 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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