Ligand Pharmaceuticals (NASDAQ:LGND – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.
Other research analysts have also issued reports about the company. TheStreet upgraded Ligand Pharmaceuticals from a “c” rating to a “b” rating in a report on Thursday, May 4th. Benchmark reiterated a “buy” rating and set a $95.00 price target on shares of Ligand Pharmaceuticals in a report on Tuesday, February 21st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $101.67.
Ligand Pharmaceuticals Stock Down 3.9 %
Shares of Ligand Pharmaceuticals stock opened at $71.68 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of 56.89, a PEG ratio of 1.40 and a beta of 1.08. The stock has a 50 day moving average price of $74.65 and a two-hundred day moving average price of $72.06. Ligand Pharmaceuticals has a 12-month low of $57.77 and a 12-month high of $109.00.
Insider Activity at Ligand Pharmaceuticals
In related news, Director John W. Kozarich sold 6,408 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $76.56, for a total value of $490,596.48. Following the completion of the transaction, the director now directly owns 42,213 shares in the company, valued at $3,231,827.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 4,444 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $77.20, for a total transaction of $343,076.80. Following the completion of the transaction, the director now directly owns 38,488 shares in the company, valued at $2,971,273.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Kozarich sold 6,408 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $76.56, for a total value of $490,596.48. Following the transaction, the director now owns 42,213 shares of the company’s stock, valued at $3,231,827.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,560 shares of company stock worth $1,348,898. 10.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Cerity Partners LLC acquired a new position in Ligand Pharmaceuticals during the first quarter worth $282,000. FMR LLC raised its stake in Ligand Pharmaceuticals by 38.0% during the first quarter. FMR LLC now owns 566 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 156 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Ligand Pharmaceuticals by 155.4% during the third quarter. Rockefeller Capital Management L.P. now owns 572 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 348 shares in the last quarter. State of Wyoming acquired a new position in Ligand Pharmaceuticals during the fourth quarter worth $45,000. Finally, Point72 Hong Kong Ltd acquired a new position in Ligand Pharmaceuticals during the third quarter worth $59,000. 87.16% of the stock is currently owned by institutional investors and hedge funds.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the development and acquisition of technologies that help pharmaceutical companies to discover and develop medicines. Its products include evomela, IV voriconazole, duavee, viviant/conbriza, nexterone, and noxafil-IV. The company was founded by Ronald M.
- Get a free copy of the StockNews.com research report on Ligand Pharmaceuticals (LGND)
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