Equities research analysts expect Ligand Pharmaceuticals (NASDAQ:LGND) to announce earnings of $1.28 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ligand Pharmaceuticals’ earnings. Ligand Pharmaceuticals posted earnings per share of $0.57 in the same quarter last year, which suggests a positive year over year growth rate of 124.6%. The company is scheduled to announce its next quarterly earnings report on Tuesday, May 8th.
On average, analysts expect that Ligand Pharmaceuticals will report full year earnings of $4.40 per share for the current year, with EPS estimates ranging from $4.06 to $4.90. For the next year, analysts anticipate that the company will post earnings of $5.32 per share, with EPS estimates ranging from $4.88 to $5.75. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Wednesday, February 21st. The biotechnology company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.12. Ligand Pharmaceuticals had a return on equity of 14.44% and a net margin of 8.90%. The firm had revenue of $50.50 million during the quarter, compared to analysts’ expectations of $49.39 million. During the same period last year, the business posted $1.25 earnings per share. The company’s revenue for the quarter was up 32.2% compared to the same quarter last year.
Several brokerages have recently issued reports on LGND. ValuEngine upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. BidaskClub upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 8th. HC Wainwright raised their price objective on Ligand Pharmaceuticals from $170.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, March 7th. Craig Hallum reaffirmed a “buy” rating and set a $200.00 target price (up from $190.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, March 7th. Finally, TheStreet lowered Ligand Pharmaceuticals from a “b” rating to a “c+” rating in a report on Thursday, March 1st. One equities research 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 stock. Ligand Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $161.00.
In other Ligand Pharmaceuticals news, Director Todd C. Davis sold 17,170 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $152.37, for a total value of $2,616,192.90. Following the sale, the director now directly owns 65,898 shares of the company’s stock, valued at $10,040,878.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Kozarich sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $160.43, for a total value of $401,075.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,587 shares of company stock worth $15,791,303. 8.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ligand Pharmaceuticals by 48.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 359 shares during the period. M&T Bank Corp grew its holdings in Ligand Pharmaceuticals by 22.9% in the fourth quarter. M&T Bank Corp now owns 1,947 shares of the biotechnology company’s stock valued at $267,000 after purchasing an additional 363 shares during the period. Meadow Creek Investment Management LLC grew its holdings in Ligand Pharmaceuticals by 27.9% in the fourth quarter. Meadow Creek Investment Management LLC now owns 1,760 shares of the biotechnology company’s stock valued at $241,000 after purchasing an additional 384 shares during the period. Willingdon Wealth Management grew its holdings in Ligand Pharmaceuticals by 2.7% in the fourth quarter. Willingdon Wealth Management now owns 15,075 shares of the biotechnology company’s stock valued at $2,064,000 after purchasing an additional 395 shares during the period. Finally, Intrust Bank NA grew its holdings in Ligand Pharmaceuticals by 15.8% in the fourth quarter. Intrust Bank NA now owns 2,960 shares of the biotechnology company’s stock valued at $406,000 after purchasing an additional 404 shares during the period.
Shares of NASDAQ:LGND traded down $1.73 during trading on Thursday, hitting $165.67. The stock had a trading volume of 183,527 shares, compared to its average volume of 320,455. Ligand Pharmaceuticals has a 12-month low of $103.22 and a 12-month high of $184.79. The stock has a market cap of $3,549.59, a price-to-earnings ratio of 64.46, a PEG ratio of 1.44 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.05.
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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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