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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.