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Ligand Pharm: The Winning Streak Continues (LGND)

By Shiri Gupta

Ligand Pharm (NASDAQ:LGND) traded at a new 52-week high today of $220.00. Approximately 53,000 shares have changed hands today, as compared to an average 30-day volume of 318,000 shares.

In the past 52 weeks, Ligand Pharm share prices have been bracketed by a low of $115.40 and a high of $220.00 and are now at $218.93, 90% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.9% while the 200-day MA has risen 0.7%.

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) defies analysts with a current price ($218.93) 22.7% above its average consensus price target of $169.17. The stock should discover initial support at its 50-day moving average (MA) of $190.68 and subsequent support at its 200-day MA of $160.21.

SmarTrend is tracking the current trend status for Ligand Pharm and will alert subscribers who have LGND in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows ligand pharm

Ticker(s): LGND