Ligand Pharmaceuticals Inc (NASDAQ: LGND). Extremely significant positive changes in investment behavior have recently occurred: its shorter term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, positive upside/downside volume developed, and the stock rose on very heavy volume.
Positive development: the consensus estimate for December, 2024 increased significantly. Negative development: significant quarterly earnings deceleration occurred.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, LGND is expected to continue to be an important Value Builder.
Ligand Pharmaceuticals has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Ligand Pharmaceuticals has a poor Appreciation Score of 23 but a good Power Rating of 80, leading to the Neutral Value Trend Rating.
Recent Price Action
Ligand Pharmaceuticals Inc (NASDAQ: LGND) stock enjoyed a large increase of 2.3% on 6/28/24. The stock closed at $84.26. Moreover, this advance was accompanied by exceptionally high trading volume at 235% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 5.6% during the last week.
Be the first to comment