Brokerages predict that Ligand Pharmaceuticals (NASDAQ:LGND) will report $38.96 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Ligand Pharmaceuticals’ earnings, with the highest sales estimate coming in at $39.20 million and the lowest estimate coming in at $38.71 million. Ligand Pharmaceuticals posted sales of $28.00 million during the same quarter last year, which suggests a positive year over year growth rate of 39.1%. The firm is expected to issue its next quarterly earnings report on Monday, August 6th.
According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year sales of $194.30 million for the current fiscal year, with estimates ranging from $187.70 million to $204.17 million. For the next year, analysts anticipate that the company will report sales of $222.07 million per share, with estimates ranging from $197.30 million to $246.22 million. Zacks’ sales averages are a mean average based on a survey of 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. Ligand Pharmaceuticals had a return on equity of 19.10% and a net margin of 31.40%. The business had revenue of $56.16 million during the quarter, compared to analyst estimates of $43.02 million. During the same quarter in the previous year, the firm earned $0.57 EPS. Ligand Pharmaceuticals’s revenue was up 91.9% on a year-over-year basis.
A number of equities analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $182.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday, May 9th. TheStreet raised Ligand Pharmaceuticals from a “c+” rating to an “a-” rating in a research report on Wednesday, May 9th. BidaskClub raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 8th. ValuEngine raised Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Roth Capital upped their price target on shares of Ligand Pharmaceuticals from $158.00 to $171.00 and gave the company a “buy” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $161.00.
Ligand Pharmaceuticals traded down $7.48, reaching $187.51, during mid-day trading on Friday, MarketBeat reports. The company’s stock had a trading volume of 121,579 shares, compared to its average volume of 325,998. Ligand Pharmaceuticals has a 12-month low of $107.64 and a 12-month high of $195.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.37 and a current ratio of 1.41. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 72.96, a price-to-earnings-growth ratio of 1.80 and a beta of 0.92.
In other news, Director Todd C. Davis sold 17,170 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $152.37, for a total transaction of $2,616,192.90. Following the completion of the sale, the director now owns 65,898 shares of the company’s stock, valued at approximately $10,040,878.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason Aryeh sold 3,417 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $155.00, for a total transaction of $529,635.00. Following the sale, the director now directly owns 58,625 shares of the company’s stock, valued at approximately $9,086,875. The disclosure for this sale can be found here. Insiders have sold a total of 61,274 shares of company stock valued at $10,067,966 in the last ninety days. Insiders own 8.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in LGND. Assetmark Inc. increased its holdings in Ligand Pharmaceuticals by 336.4% in the 4th quarter. Assetmark Inc. now owns 1,056 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 814 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ligand Pharmaceuticals by 48.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock worth $151,000 after acquiring an additional 359 shares in the last quarter. We Are One Seven LLC purchased a new stake in Ligand Pharmaceuticals in the 4th quarter worth approximately $179,000. Meadow Creek Investment Management LLC increased its holdings in Ligand Pharmaceuticals by 27.9% in the 4th quarter. Meadow Creek Investment Management LLC now owns 1,760 shares of the biotechnology company’s stock worth $241,000 after acquiring an additional 384 shares in the last quarter. Finally, Capital One National Association purchased a new stake in Ligand Pharmaceuticals in the 4th quarter worth approximately $252,000.
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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