Brokerages expect that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will post earnings of $1.01 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ligand Pharmaceuticals’ earnings. Ligand Pharmaceuticals reported earnings per share of $0.69 during the same quarter last year, which suggests a positive year over year growth rate of 46.4%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 8th.
According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year earnings of $5.64 per share for the current financial year, with EPS estimates ranging from $4.93 to $6.35. For the next year, analysts anticipate that the business will post earnings of $5.59 per share, with EPS estimates ranging from $4.88 to $6.30. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Monday, August 6th. The biotechnology company reported $2.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.34 by $0.25. Ligand Pharmaceuticals had a return on equity of 25.95% and a net margin of 52.10%. The business had revenue of $90.00 million during the quarter, compared to the consensus estimate of $82.20 million. During the same period in the previous year, the business earned $0.67 EPS. The business’s quarterly revenue was up 221.4% on a year-over-year basis.
LGND has been the subject of a number of research analyst reports. HC Wainwright set a $249.00 price target on Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Friday, July 27th. ValuEngine upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Stephens restated a “buy” rating and set a $248.00 price objective on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 8th. Goldman Sachs Group began coverage on Ligand Pharmaceuticals in a research report on Friday. They set a “neutral” rating and a $256.00 price objective for the company. Finally, TheStreet upgraded Ligand Pharmaceuticals from a “c+” rating to an “a-” rating in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $208.57.
In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 2,500 shares of the business’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $207.48, for a total transaction of $518,700.00. Following the completion of the transaction, the director now owns 28,642 shares in the company, valued at approximately $5,942,642.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John L. Higgins sold 34,500 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $241.96, for a total value of $8,347,620.00. Following the transaction, the chief executive officer now owns 110,426 shares of the company’s stock, valued at approximately $26,718,674.96. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $11,802,380 in the last 90 days. Insiders own 7.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Mount Yale Investment Advisors LLC acquired a new position in Ligand Pharmaceuticals during the 1st quarter worth $118,000. Fred Alger Management Inc. acquired a new position in Ligand Pharmaceuticals during the 2nd quarter worth $207,000. World Asset Management Inc acquired a new position in Ligand Pharmaceuticals during the 2nd quarter worth $214,000. Cim LLC acquired a new position in Ligand Pharmaceuticals during the 2nd quarter worth $215,000. Finally, Van Hulzen Asset Management LLC acquired a new position in Ligand Pharmaceuticals during the 2nd quarter worth $218,000.
Shares of NASDAQ LGND traded up $8.32 during trading on Friday, reaching $247.98. The stock had a trading volume of 571,429 shares, compared to its average volume of 329,489. Ligand Pharmaceuticals has a one year low of $123.11 and a one year high of $255.38. The company has a current ratio of 2.34, a quick ratio of 2.32 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 96.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91.
About Ligand Pharmaceuticals
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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