Ligand Pharmaceuticals (NASDAQ:LGND) is scheduled to announce its earnings results before the market opens on Thursday, November 8th. Analysts expect the company to announce earnings of $0.84 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Monday, August 6th. The biotechnology company reported $2.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.25. Ligand Pharmaceuticals had a net margin of 52.10% and a return on equity of 25.95%. The firm had revenue of $90.00 million during the quarter, compared to the consensus estimate of $82.20 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was up 221.4% on a year-over-year basis. On average, analysts expect Ligand Pharmaceuticals to post $6 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Shares of NASDAQ:LGND opened at $159.98 on Wednesday. Ligand Pharmaceuticals has a 52 week low of $126.50 and a 52 week high of $278.62. The company has a quick ratio of 2.32, a current ratio of 2.34 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 62.25, a PEG ratio of 1.45 and a beta of 1.52.
In other news, Director Todd C. Davis sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $253.99, for a total value of $634,975.00. Following the completion of the transaction, the director now owns 42,556 shares in the company, valued at $10,808,798.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Charles S. Berkman sold 2,813 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $250.69, for a total transaction of $705,190.97. Following the completion of the transaction, the senior vice president now owns 30,576 shares of the company’s stock, valued at approximately $7,665,097.44. The disclosure for this sale can be found here. Insiders sold 119,922 shares of company stock valued at $30,297,452 in the last quarter. Corporate insiders own 7.80% of the company’s stock.
Several research analysts have recently weighed in on LGND shares. Stephens reiterated a “buy” rating and issued a $248.00 price target on shares of Ligand Pharmaceuticals in a report on Wednesday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $249.00 price target on shares of Ligand Pharmaceuticals in a report on Tuesday, August 7th. Craig Hallum upped their price target on shares of Ligand Pharmaceuticals from $230.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. BidaskClub cut shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Finally, Argus set a $300.00 price target on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Ligand Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $227.00.
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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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