Ligand Pharmaceuticals (LGND) Set to Announce Earnings on Tuesday

Ligand Pharmaceuticals (NASDAQ:LGND) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Ligand Pharmaceuticals to post earnings of $1.13 per share for the quarter. Ligand Pharmaceuticals has set its FY 2024 guidance at 4.250-4.750 EPS and its FY24 guidance at $4.25 to $4.75 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Tuesday, February 27th. The biotechnology company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.55. The business had revenue of $28.10 million during the quarter, compared to analysts’ expectations of $24.54 million. Ligand Pharmaceuticals had a net margin of 37.80% and a return on equity of 11.98%. On average, analysts expect Ligand Pharmaceuticals to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Ligand Pharmaceuticals Trading Up 0.2 %

LGND stock traded up $0.15 on Tuesday, hitting $70.61. The company had a trading volume of 16,372 shares, compared to its average volume of 156,804. The stock’s 50-day simple moving average is $74.73 and its 200 day simple moving average is $68.19. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 25.62 and a beta of 1.01. Ligand Pharmaceuticals has a 12-month low of $49.24 and a 12-month high of $94.57.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LGND. Benchmark reissued a “buy” rating and issued a $95.00 price objective on shares of Ligand Pharmaceuticals in a research report on Friday, April 12th. HC Wainwright reiterated a “buy” rating and set a $144.00 price objective on shares of Ligand Pharmaceuticals in a research note on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.33.

Insider Activity at Ligand Pharmaceuticals

In other news, Director Stephen L. Sabba sold 1,893 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $74.30, for a total transaction of $140,649.90. Following the sale, the director now directly owns 28,926 shares in the company, valued at approximately $2,149,201.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.40% of the company’s stock.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.