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Ligand Pharm: The Winning Streak Continues (LGND)

By Amy Schwartz

Shares of Ligand Pharm (NASDAQ:LGND) traded at a new 52-week high today of $186.91. So far today approximately 53,000 shares have been exchanged, as compared to an average 30-day volume of 427,000 shares.

Over the past year, Ligand Pharm has traded in a range of $87.50 to $186.91 and is now at $186.45, 113% above that low. The 200-day and 50-day moving averages have moved 0.30% higher and 2.12% higher over the past week, respectively.

Ligand Pharmaceuticals Incorporated develops drugs which regulate hormone activated intracellular receptors. These receptors play a role in regulating the genetic processes affecting diseases such as gynecological disorders and certain cancers, as well as cardiovascular, inflammatory, and skin diseases.

Ligand Pharm (NASDAQ:LGND) is currently priced 11.7% above its average consensus analyst price target of $164.67. The stock should find initial support at its 50-day moving average (MA) of $110.59 and further support at its 200-day MA of $100.59.

SmarTrend is monitoring the recent change of momentum in Ligand Pharm. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ligand Pharm in search of a potential trend change.

Keywords: 52 week high/lows ligand pharm

Ticker(s): LGND