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Stock Investors Sell Off Shares of Ligand Pharmaceuticals, Down 1.6%

Published on Wed, 03/27/2013 - 10:29
By Adrienne Chilton

One of today's notable stocks in decline is Ligand Pharmaceuticals (NASDAQ:LGND), down 1.6% to $25.66. The Dow is down 0.4% to 14,507 and the S&P is currently down 0.3% to 1,558.

Ligand Pharmaceuticals (NASDAQ:LGND) has potential upside of 11.5% based on a current price of $25.66 and analysts' consensus price target of $28.60. Ligand Pharmaceuticals shares have support at the 50-day moving average (MA) of $21.47 and additional support at the 200-day MA of $18.57.

Over the past year, Ligand Pharmaceuticals has traded in a range of $11.21 to $26.33 and is now at $25.66, 129% above that low. Over the past week, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 1.6%.

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.

By Adrienne Chilton