Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) reached a new 52-week high during trading on Tuesday . The stock traded as high as $131.25 and last traded at $130.69, with a volume of 150,958 shares traded. The stock had previously closed at $128.93.

Several equities research analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $150.00 target price on shares of Ligand Pharmaceuticals in a research report on Tuesday. BidaskClub downgraded shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Deutsche Bank AG reissued a “hold” rating and set a $103.00 target price (up from $100.00) on shares of Ligand Pharmaceuticals in a research report on Monday, July 17th. ValuEngine raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Stephens reissued an “overweight” rating and set a $137.00 target price (up from $125.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $132.29.

The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 318.1003 and a beta of 0.99. The stock has a 50 day moving average price of $124.11 and a 200 day moving average price of $114.11.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.42. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The firm had revenue of $28 million during the quarter, compared to analyst estimates of $24.40 million. During the same period in the previous year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 43.6% on a year-over-year basis. On average, analysts predict that Ligand Pharmaceuticals Incorporated will post $2.95 earnings per share for the current fiscal year.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $114.87, for a total value of $1,378,440.00. Following the completion of the transaction, the chief executive officer now directly owns 151,171 shares in the company, valued at $17,365,012.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John L. Higgins sold 4,666 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $120.00, for a total transaction of $559,920.00. Following the completion of the transaction, the chief executive officer now owns 143,837 shares of the company’s stock, valued at $17,260,440. The disclosure for this sale can be found here. Insiders have sold 48,874 shares of company stock valued at $6,022,156 over the last 90 days. 14.70% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of LGND. Tyers Asset Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock worth $110,000 after buying an additional 196 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Ligand Pharmaceuticals by 43.2% in the first quarter. LS Investment Advisors LLC now owns 1,197 shares of the biotechnology company’s stock worth $127,000 after buying an additional 361 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Flinton Capital Management LLC now owns 1,258 shares of the biotechnology company’s stock worth $133,000 after buying an additional 238 shares in the last quarter. Strs Ohio lifted its holdings in shares of Ligand Pharmaceuticals by 225.0% in the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock worth $157,000 after buying an additional 900 shares in the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in shares of Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after buying an additional 20 shares in the last quarter.

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Ligand Pharmaceuticals Company Profile

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 is involved in the development and licensing of biopharmaceutical assets. 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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