Ligand Pharmaceuticals (LGND) Releases FY19 Earnings Guidance

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Ligand Pharmaceuticals (NASDAQ:LGND) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of ~$6.05 for the period, compared to the Thomson Reuters consensus estimate of $5.53. The company issued revenue guidance of ~$224 million, compared to the consensus revenue estimate of $213.42 million.Ligand Pharmaceuticals also updated its FY 2019 guidance to $6.05-6.05 EPS.

LGND has been the subject of several research reports. HC Wainwright reissued a buy rating and set a $281.00 price objective on shares of Ligand Pharmaceuticals in a report on Monday, November 5th. BidaskClub downgraded shares of Ligand Pharmaceuticals from a hold rating to a sell rating in a report on Friday, October 19th. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a hold rating to a buy rating and set a $126.00 price objective for the company in a report on Wednesday, January 23rd. ValuEngine raised shares of Ligand Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, January 2nd. Finally, Roth Capital raised shares of Ligand Pharmaceuticals from a neutral rating to a buy rating and dropped their price objective for the company from $250.00 to $195.00 in a report on Monday, October 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $238.00.

Shares of LGND traded down $2.04 during midday trading on Friday, hitting $114.48. 1,378,650 shares of the company traded hands, compared to its average volume of 1,016,674. Ligand Pharmaceuticals has a 52 week low of $98.56 and a 52 week high of $278.62. The company has a market capitalization of $2.43 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. The company has a quick ratio of 2.19, a current ratio of 2.20 and a debt-to-equity ratio of 0.86.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Thursday, February 7th. The biotechnology company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.22 by $0.48. Ligand Pharmaceuticals had a net margin of 57.00% and a return on equity of 25.57%. The business had revenue of $59.59 million during the quarter, compared to the consensus estimate of $52.58 million. During the same quarter in the prior year, the firm earned $1.31 EPS. The business’s revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts expect that Ligand Pharmaceuticals will post 4.88 earnings per share for the current year.

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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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