Are Ligand Pharmaceuticals (NASDAQ:LGND) Shares a Sell Now? Roth Capital Has Downgraded Stock

August 9, 2018 - By Vernon Prom

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Logo

Investors sentiment decreased to 1.06 in 2018 Q1. Its down 0.19, from 1.25 in 2017Q4. It turned negative, as 16 investors sold Ligand Pharmaceuticals Incorporated shares while 109 reduced holdings. 52 funds opened positions while 80 raised stakes. 22.56 million shares or 0.54% less from 22.68 million shares in 2017Q4 were reported.

Ascend Cap accumulated 15,984 shares. Kornitzer Capital Mngmt Incorporated Ks reported 75,225 shares stake. Morgan Stanley has 84,218 shares. Vigilant Cap, a Maine-based fund reported 52 shares. Verity Asset Mgmt has invested 0.41% in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND). Raymond James Svcs Inc has 0% invested in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND). Raymond James & Associates holds 0% of its portfolio in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) for 15,928 shares. Avalon Advsr Ltd Llc holds 0.06% or 11,619 shares in its portfolio. Blackrock owns 3.01 million shares for 0.02% of their portfolio. C M Bidwell & Associate Ltd holds 0.04% or 260 shares. Dimensional Fund Advsr Limited Partnership invested in 0.02% or 222,286 shares. Hsbc Plc stated it has 19,477 shares or 0% of all its holdings. State Of Alaska Department Of Revenue invested in 0.02% or 6,807 shares. Pnc Fincl Serv Group reported 0.01% stake. Gabelli Funds Ltd Liability Corp, New York-based fund reported 27,575 shares.

Since February 15, 2018, it had 0 insider purchases, and 12 sales for $12.78 million activity. KOZARICH JOHN W sold $401,063 worth of stock or 2,500 shares. $832,824 worth of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) was sold by FOEHR MATTHEW W on Friday, February 23. On Thursday, March 8 Aryeh Jason sold $1.32 million worth of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) or 7,500 shares. Sabba Stephen L sold $112,414 worth of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) on Monday, March 12. LAMATTINA JOHN L sold $536,604 worth of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) on Monday, March 5. On Monday, February 26 the insider Davis Todd C sold $2.62M.

Ligand Pharmaceuticals (NASDAQ:LGND) Receives a Downgrade

The Equity Rating of Ligand Pharmaceuticals (NASDAQ:LGND) rating was cut by analysts at Roth Capital from the previous “Buy” rating to a “Neutral” rating in an analyst note issued on 8 August.

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Ratings Coverage

Among 5 analysts covering Ligand Pharma (NASDAQ:LGND), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Ligand Pharma has $260 highest and $162.0 lowest target. $201’s average target is -15.65% below currents $238.3 stock price. Ligand Pharma had 8 analyst reports since February 22, 2018 according to SRatingsIntel. The stock of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) earned “Buy” rating by Stephens on Thursday, February 22. As per Wednesday, August 8, the company rating was downgraded by Roth Capital. The stock of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) earned “Buy” rating by H.C. Wainwright on Wednesday, March 7. As per Monday, February 26, the company rating was maintained by Roth Capital. The company was maintained on Wednesday, June 27 by Craig Hallum. The firm has “Buy” rating given on Wednesday, March 7 by Craig Hallum. Craig Hallum maintained it with “Buy” rating and $190.0 target in Thursday, February 22 report.

The stock decreased 3.53% or $8.72 during the last trading session, reaching $238.3. About 464,648 shares traded or 28.78% up from the average. Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has risen 66.74% since August 9, 2017 and is uptrending. It has outperformed by 54.17% the S&P500.

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. The company has market cap of $5.08 billion. The Company’s commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; CorMatrix portfolio of vascular, cardiac, and pericardial tissue repair products; bazedoxifene, which is used for the treatment of postmenopausal osteoporosis; Carnexiv that is used as replacement therapy for oral carbamazepine formulations; Nexterone, a Captisol-enabled formulation of amiodarone; Noxafil-IV, a Captisol-enabled formulation of posaconazole for IV use; Exemptia for autoimmune diseases; and Vivitra for breast cancer. It has a 48.22 P/E ratio. The companyÂ’s partners programs, which are in clinical development used for the treatment of seizure, coma, cancer, diabetes, cardiovascular disease, muscle wasting, liver disease, kidney disease, and others.

More notable recent Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) news were published by: Seekingalpha.com which released: “Viking Therapeutics: A Strong Grower To Service The Lucrative NASH Market” on August 06, 2018, also Investorplace.com with their article: “The 10 Best Stocks to Buy Right Now” published on August 03, 2018, Seekingalpha.com published: “Ligand’s (LGND) CEO John Higgins on Q2 2018 Results – Earnings Call Transcript” on August 07, 2018. More interesting news about Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) were released by: Benzinga.com and their article: “Roth Capital Likes Ligand, But Valuation Renders Shares ‘Increasingly Speculative'” published on August 08, 2018 as well as Seekingalpha.com‘s news article titled: “Ligand Pharma teams up with J&J to develop transgenic chicken platform” with publication date: July 11, 2018.

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Institutional Positions Chart

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