Ligand Pharmaceuticals (NASDAQ:LGND) Cut to Sell at StockNews.com

StockNews.com cut shares of Ligand Pharmaceuticals (NASDAQ:LGND) from a hold rating to a sell rating in a report released on Monday.

LGND has been the topic of a number of other reports. Barclays raised their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Benchmark reiterated a “buy” rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Finally, Royal Bank of Canada increased their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Ligand Pharmaceuticals Trading Up 7.4 %

LGND opened at $103.85 on Monday. The business’s 50 day moving average is $111.33 and its 200-day moving average is $111.92. The stock has a market cap of $2.00 billion, a PE ratio of 41.37 and a beta of 1.07. Ligand Pharmaceuticals has a twelve month low of $67.72 and a twelve month high of $129.90.

Insider Activity

In other news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total value of $575,150.00. Following the completion of the sale, the chief financial officer now owns 18,879 shares in the company, valued at $2,171,651.37. This represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new position in Ligand Pharmaceuticals during the fourth quarter valued at approximately $43,000. Smartleaf Asset Management LLC boosted its position in Ligand Pharmaceuticals by 119.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 221 shares during the last quarter. Redwood Park Advisors LLC purchased a new position in Ligand Pharmaceuticals in the fourth quarter valued at about $48,000. Sterling Capital Management LLC raised its stake in shares of Ligand Pharmaceuticals by 825.4% during the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 487 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Ligand Pharmaceuticals by 14.8% during the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 98 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.