Ligand Pharmaceuticals Incorporated (LGND) Hits New 52-Week High at $131.25
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) hit a new 52-week high on Tuesday . The stock traded as high as $131.25 and last traded at $130.69, with a volume of 150,958 shares. The stock had previously closed at $128.93.
Several brokerages have recently weighed in on LGND. TheStreet upgraded shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, August 7th. HC Wainwright reiterated a “buy” rating and set a $150.00 target price on shares of Ligand Pharmaceuticals in a research note on Tuesday. ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Stephens reiterated an “overweight” rating and set a $137.00 target price (up previously from $125.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 9th. Finally, BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $132.29.
The company’s 50 day moving average price is $125.15 and its 200 day moving average price is $114.62. The stock has a market capitalization of $2.81 billion, a PE ratio of 325.73 and a beta of 0.99.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its 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 business had revenue of $28 million for the quarter, compared to the consensus estimate of $24.40 million. During the same period in the previous year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 43.6% on a year-over-year basis. Analysts forecast that Ligand Pharmaceuticals Incorporated will post $2.95 EPS for the current year.
In other news, Director Jason Aryeh sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $127.99, for a total transaction of $255,980.00. Following the sale, the director now owns 59,625 shares in the company, valued at $7,631,403.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John L. Higgins sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $130.00, for a total transaction of $650,000.00. Following the sale, the chief executive officer now owns 144,171 shares in the company, valued at approximately $18,742,230. The disclosure for this sale can be found here. Insiders sold a total of 53,874 shares of company stock worth $6,672,156 over the last quarter. Insiders own 14.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Credit Suisse AG raised its holdings in shares of Ligand Pharmaceuticals by 34.3% during the first quarter. Credit Suisse AG now owns 127,030 shares of the biotechnology company’s stock valued at $13,444,000 after acquiring an additional 32,413 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Ligand Pharmaceuticals by 19.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 102,959 shares of the biotechnology company’s stock valued at $10,898,000 after acquiring an additional 16,899 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at approximately $1,078,000. Sei Investments Co. raised its holdings in shares of Ligand Pharmaceuticals by 862.1% during the second quarter. Sei Investments Co. now owns 25,669 shares of the biotechnology company’s stock valued at $3,116,000 after acquiring an additional 23,001 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Ligand Pharmaceuticals during the first quarter valued at approximately $174,000.
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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.