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Shares of Ligand Pharmaceuticals Rise Above Previous 52-Week High

By Nick Russo

Ligand Pharmaceuticals (NASDAQ:LGND) traded at a new 52-week high today of $76.86. This new high was reached on approximately average trading volume as 192,000 shares traded hands, while the average 30-day volume is approximately 263,000 shares.

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, certain cancers, as well as cardiovascular, inflammatory, and skin diseases.

Ligand Pharmaceuticals (NASDAQ:LGND) defies analysts with a current price ($76.71) 14.5% above its average consensus price target of $65.60. The stock should discover initial support at its 50-day moving average (MA) of $57.78 and subsequent support at its 200-day MA of $46.41.

In the past 52 weeks, shares of Ligand Pharmaceuticals have traded between a low of $20.21 and a high of $76.86 and are now at $76.71, which is 280% above that low price. The 200-day and 50-day moving averages have moved 1.37% higher and 1.34% higher over the past week, respectively.

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

Keywords: 52 week high/lows ligand pharmaceuticals

Ticker(s): LGND