U.S. Markets closed

Ligand Pharmaceuticals (LGND) in Focus: Stock Falls 6.7%

Zacks Equity Research

Ligand Pharmaceuticals Incorporated (LGND) saw a big move last session, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for LGND, as the stock is now down 20% since June 20.

This slump shouldn’t be too much of a surprise to investors, as though the pharmaceutical company has seen no negative revision in the past few weeks its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

LGND currently has a Zacks Rank #4 (Sell) while itsEarnings ESP is 0.00%.

Some better-ranked stocks in the Med-Biomed/Gene industry include Actelion Ltd. (ALIOF), Biogen Idec Inc. (BIIB) and Curis, Inc. (CRIS). All these stocks carry a Zacks Rank #1 (Strong Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>


ACTELION LTD (ALIOF): Free Stock Analysis Report

BIOGEN IDEC INC (BIIB): Free Stock Analysis Report

CURIS INC (CRIS): Free Stock Analysis Report

Zacks Investment Research