Ligand Stock Hits New 52-Week High (LGND)

NEW YORK ( TheStreet) -- Ligand Pharmaceuticals (Nasdaq: LGND) hit a new 52-week high Monday as it is currently trading at $18.50, above its previous 52-week high of $18.22 with 7,059 shares traded as of 9:35 a.m. ET. Average volume has been 145,900 shares over the past 30 days.

Ligand has a market cap of $248.1 million and is part of the health care sector and drugs industry. Shares are up 52% year to date as of the close of trading on Friday.

Ligand Pharmaceuticals Incorporated operates as a biotechnology company. It principally engages in the development and acquisition of royalty revenue generating assets. The company has a P/E ratio of 34.3, above the average drugs industry P/E ratio of 27.4 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Ligand as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we find that the company has not been very careful in the management of its balance sheet. You can view the full Ligand Ratings Report.

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