Traders bought shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) on weakness during trading hours on Wednesday. $12.90 million flowed into the stock on the tick-up and $10.21 million flowed out of the stock on the tick-down, for a money net flow of $2.69 million into the stock. Of all equities tracked, Ligand Pharmaceuticals had the 27th highest net in-flow for the day. Ligand Pharmaceuticals traded down ($0.18) for the day and closed at $116.96

A number of brokerages have issued reports on LGND. Roth Capital reissued a “buy” rating and issued a $147.00 target price on shares of Ligand Pharmaceuticals in a report on Saturday, July 9th. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $135.00 target price on the stock in a report on Tuesday, August 9th. Vetr raised shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 target price on the stock in a report on Wednesday, August 10th. Finally, Deutsche Bank AG cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and raised their target price for the stock from $104.00 to $110.00 in a report on Friday, August 5th. They noted that the move was a valuation call. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $136.47.

The firm’s 50 day moving average price is $112.23 and its 200-day moving average price is $116.64. The firm has a market cap of $2.44 billion, a P/E ratio of 11.03 and a beta of 1.27.

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Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. The firm earned $19.50 million during the quarter, compared to analyst estimates of $18.12 million. Ligand Pharmaceuticals had a net margin of 263.14% and a return on equity of 11.64%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 EPS. Equities analysts forecast that Ligand Pharmaceuticals Inc. will post $3.45 EPS for the current year.

In other news, Director John W. Kozarich sold 1,666 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $105.40, for a total transaction of $175,596.40. Following the transaction, the director now owns 40,783 shares in the company, valued at approximately $4,298,528.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John W. Kozarich sold 1,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $137.57, for a total transaction of $137,570.00. Following the transaction, the director now owns 41,783 shares in the company, valued at approximately $5,748,087.31. The disclosure for this sale can be found here. Company insiders own 14.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of LGND. Meridian Investment Counsel Inc. increased its position in Ligand Pharmaceuticals by 1.0% in the second quarter. Meridian Investment Counsel Inc. now owns 2,920 shares of the biotechnology company’s stock valued at $348,000 after buying an additional 30 shares during the last quarter. Hanseatic Management Services Inc. increased its position in Ligand Pharmaceuticals by 0.8% in the second quarter. Hanseatic Management Services Inc. now owns 7,819 shares of the biotechnology company’s stock valued at $933,000 after buying an additional 60 shares during the last quarter. Paradigm Asset Management Co. LLC increased its position in Ligand Pharmaceuticals by 1.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,753 shares of the biotechnology company’s stock valued at $686,000 after buying an additional 100 shares during the last quarter. Howe & Rusling Inc. increased its position in Ligand Pharmaceuticals by 8.3% in the second quarter. Howe & Rusling Inc. now owns 1,375 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 105 shares during the last quarter. Finally, Suntrust Banks Inc. increased its position in Ligand Pharmaceuticals by 2.6% in the second quarter. Suntrust Banks Inc. now owns 5,441 shares of the biotechnology company’s stock valued at $648,000 after buying an additional 136 shares during the last quarter.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.

5 Day Chart for NASDAQ:LGND

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