Today’s Research Reports on Trending Tickers: Ligand Pharmaceuticals and Intrexon
U.S. stocks retreated on Thursday after the Fed left interest rates unchanged and signaled that it would continue to tighten monetary policy at a gradual pace. The Dow Jones Industrial Average gained 0.04 percent to close at 26,191.22, while the S&P 500 Index shed 0.25 percent to close at 2,806.83. The Nasdaq Composite Index decreased 0.53 percent higher to close at 7,530.89.
Charlie Ripley, senior investment strategist at Allianz Investment Management said that, “With no press conference or expectation for policy change, most market participants viewed the November FOMC meeting as more of a non-event. Despite the headwinds of increased market volatility and tightening financial condition, the Fed appears committed to continuing the gradual process of lifting rates and removing accommodation.”
“With only minimal changes to the statement the Fed is remaining vague about policy changes going forward and likely giving the committee more optionality in a changing market environment,” he added.
RDI Initiates Coverage on:
Ligand Pharmaceuticals Incorporated
Ligand Pharmaceuticals’ stock jumped 5.04% Thursday, to close the day at $171.19. The stock recorded a trading volume of 1,572,913 shares, which was above its three months average volume of 598,429 shares. In the last year, Ligand Pharmaceuticals’ shares have traded in a range of 126.50 – 278.62. The share price has gained 35.33% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $212.53 is above its 200-day moving average of $212.72. Shares of the company are trading at a Price to Earnings ratio of 34.64. Shares of Ligand Pharmaceuticals have fallen roughly 30.72 percent in the past month and are up 25.02 percent year-to-date.
Access RDI’s Ligand Pharmaceuticals Incorporated Research Report at:
On Thursday, shares of Intrexon recorded a trading volume of 842,689 shares, which was below the three months average volume of 1,388,296 shares. The stock ended the day 0.9% lower at $13.22. The share price has fallen 34.42% from its 52 week high with a 52 week trading range of 10.26 – 20.16. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $14.58 is below its 200-day moving average of $15.30. Shares of Intrexon have fallen roughly 18.24 percent in the past month and are up 14.76 percent year-to-date.
Access RDI’s Intrexon Corporation Research Report at:
Our Actionable Research on Ligand Pharmaceuticals Incorporated (NYSE:LGND) and Intrexon Corporation (NASDAQ:XON) can be downloaded free of charge at Research Driven Investing.
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