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

Ligand Pharmaceuticals (NASDAQ:LGND) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

A number of other analysts also recently weighed in on the company. Barclays boosted 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. HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Benchmark restated a “buy” rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Finally, Royal Bank of Canada raised their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ligand Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Ligand Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ LGND traded down $0.16 during mid-day trading on Monday, reaching $99.41. 201,774 shares of the company were exchanged, compared to its average volume of 123,020. The stock has a market capitalization of $1.91 billion, a PE ratio of 39.61 and a beta of 1.07. Ligand Pharmaceuticals has a 52 week low of $67.72 and a 52 week high of $129.90. The company’s 50 day moving average price is $112.76 and its 200 day moving average price is $112.10.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 18,879 shares of the company’s stock, valued at $2,171,651.37. This represents a 20.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Ligand Pharmaceuticals by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company’s stock worth $223,475,000 after acquiring an additional 115,005 shares in the last quarter. Janus Henderson Group PLC lifted its position in Ligand Pharmaceuticals by 0.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,015,023 shares of the biotechnology company’s stock valued at $108,757,000 after purchasing an additional 5,929 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ligand Pharmaceuticals by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 723,019 shares of the biotechnology company’s stock worth $77,470,000 after buying an additional 16,003 shares in the last quarter. State Street Corp increased its holdings in shares of Ligand Pharmaceuticals by 2.7% in the 3rd quarter. State Street Corp now owns 707,414 shares of the biotechnology company’s stock worth $70,805,000 after buying an additional 18,642 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in shares of Ligand Pharmaceuticals by 2.9% during the 4th quarter. Congress Asset Management Co. now owns 621,482 shares of the biotechnology company’s stock valued at $66,592,000 after buying an additional 17,444 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

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.