Ligand Pharmaceuticals (NASDAQ:LGND) Stock Rating Lowered by StockNews.com

Ligand Pharmaceuticals (NASDAQ:LGND) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

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

Ligand Pharmaceuticals Stock Performance

Shares of LGND stock traded down $5.53 during mid-day trading on Monday, hitting $109.30. 130,643 shares of the stock traded hands, compared to its average volume of 124,249. Ligand Pharmaceuticals has a twelve month low of $67.72 and a twelve month high of $129.90. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 43.55 and a beta of 1.12. The company’s 50-day simple moving average is $114.37 and its 200-day simple moving average is $111.68.

Insiders Place Their Bets

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the sale, the chief financial officer now owns 18,879 shares in the company, valued at approximately $2,171,651.37. The trade was a 20.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Ligand Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new position in Ligand Pharmaceuticals during the 4th quarter worth about $43,000. Smartleaf Asset Management LLC lifted 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 worth $43,000 after acquiring an additional 221 shares during the last quarter. Redwood Park Advisors LLC acquired a new stake in Ligand Pharmaceuticals during the fourth quarter worth approximately $48,000. Sterling Capital Management LLC lifted its position in Ligand Pharmaceuticals by 825.4% during the fourth quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 487 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Ligand Pharmaceuticals by 14.8% during the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 98 shares during the period. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Company Profile

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.