Analysts forecast that Ligand Pharmaceuticals (NASDAQ:LGND) will announce earnings of $0.71 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Ligand Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.93. Ligand Pharmaceuticals reported earnings per share of $0.67 during the same quarter last year, which would suggest a positive year over year growth rate of 6%. The business is scheduled to report its next quarterly earnings results on Monday, August 6th.
According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year earnings of $4.24 per share for the current fiscal year, with EPS estimates ranging from $3.62 to $4.92. For the next fiscal year, analysts forecast that the business will post earnings of $4.63 per share, with EPS estimates ranging from $3.12 to $5.90. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Tuesday, May 8th. The biotechnology company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.26. The business had revenue of $56.16 million during the quarter, compared to the consensus estimate of $43.02 million. Ligand Pharmaceuticals had a return on equity of 19.10% and a net margin of 31.40%. The firm’s revenue for the quarter was up 91.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share.
A number of equities research analysts have weighed in on LGND shares. ValuEngine upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a report on Wednesday, February 28th. BidaskClub upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 8th. HC Wainwright boosted their price objective on Ligand Pharmaceuticals from $170.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, March 7th. Finally, TheStreet downgraded Ligand Pharmaceuticals from a “b” rating to a “c+” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. Ligand Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $161.00.
In other news, CEO John L. Higgins sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $157.03, for a total transaction of $1,413,270.00. Following the completion of the sale, the chief executive officer now owns 102,700 shares in the company, valued at $16,126,981. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Todd C. Davis sold 17,170 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $152.37, for a total value of $2,616,192.90. Following the sale, the director now owns 65,898 shares of the company’s stock, valued at approximately $10,040,878.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,274 shares of company stock valued at $11,481,236. Corporate insiders own 8.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LGND. Assetmark Inc. grew its holdings in Ligand Pharmaceuticals by 336.4% during the fourth quarter. Assetmark Inc. now owns 1,056 shares of the biotechnology company’s stock worth $145,000 after buying an additional 814 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ligand Pharmaceuticals by 48.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock worth $151,000 after buying an additional 359 shares in the last quarter. We Are One Seven LLC bought a new stake in Ligand Pharmaceuticals during the fourth quarter worth $179,000. Cambridge Investment Research Advisors Inc. bought a new stake in Ligand Pharmaceuticals during the first quarter worth $261,000. Finally, Jane Street Group LLC bought a new stake in Ligand Pharmaceuticals during the first quarter worth $274,000.
LGND stock traded up $7.82 during mid-day trading on Wednesday, reaching $193.19. The company’s stock had a trading volume of 629,987 shares, compared to its average volume of 314,309. The company has a market cap of $3.86 billion, a P/E ratio of 75.17, a PEG ratio of 1.67 and a beta of 0.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.41. Ligand Pharmaceuticals has a 12 month low of $183.46 and a 12 month high of $188.97.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.
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