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. See all 52-week high stocks or get investment ideas from our investment research center.