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 research report released on Monday.

A number of other equities analysts have also weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Barclays raised their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada raised their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Ligand Pharmaceuticals Price Performance

NASDAQ:LGND opened at $108.09 on Monday. The firm’s fifty day moving average price is $114.42 and its 200 day moving average price is $111.73. Ligand Pharmaceuticals has a 1-year low of $67.72 and a 1-year high of $129.90. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 43.06 and a beta of 1.12.

Insider Transactions at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction on Tuesday, March 4th. The stock was 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. The trade was a 20.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in shares of Ligand Pharmaceuticals by 119.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock worth $43,000 after buying an additional 221 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Ligand Pharmaceuticals during the 4th quarter worth $43,000. Redwood Park Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals during the 4th quarter worth $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 buying an additional 487 shares during the last quarter. Finally, US Bancorp DE raised its stake in Ligand Pharmaceuticals by 14.8% in the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock valued at $81,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds 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.