Analysts expect Ligand Pharmaceuticals Inc. (NASDAQ:LGND) to post sales of $23.63 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ligand Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $22.15 million and the highest estimate coming in at $25.10 million. Ligand Pharmaceuticals reported sales of $43.48 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 45.7%. The business is scheduled to announce its next earnings report on Thursday, May 7th.
On average, analysts expect that Ligand Pharmaceuticals will report full-year sales of $124.84 million for the current financial year, with estimates ranging from $121.48 million to $128.20 million. For the next fiscal year, analysts expect that the business will report sales of $139.42 million, with estimates ranging from $132.64 million to $146.20 million. Zacks Investment Research’s 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 Thursday, February 6th. The biotechnology company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.07. The company had revenue of $27.00 million during the quarter, compared to analysts’ expectations of $25.30 million. Ligand Pharmaceuticals had a return on equity of 4.34% and a net margin of 523.19%. Ligand Pharmaceuticals’s quarterly revenue was down 54.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.70 EPS.
LGND has been the subject of several research reports. Benchmark initiated coverage on Ligand Pharmaceuticals in a research report on Thursday, February 6th. They issued a “buy” rating and a $135.00 target price for the company. ValuEngine raised Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, February 1st. HC Wainwright reissued a “buy” rating and issued a $237.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday. BidaskClub lowered Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 16th. Finally, Roth Capital decreased their target price on Ligand Pharmaceuticals from to and set a “buy” rating for the company in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $153.17.
LGND opened at $97.23 on Friday. The business has a 50 day simple moving average of $94.44 and a two-hundred day simple moving average of $100.29. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 2.81 and a beta of 1.32. The company has a debt-to-equity ratio of 0.85, a current ratio of 66.09 and a quick ratio of 65.66. Ligand Pharmaceuticals has a one year low of $84.45 and a one year high of $130.50.
Several large investors have recently made changes to their positions in the company. First Mercantile Trust Co. grew its stake in shares of Ligand Pharmaceuticals by 11.7% in the 3rd quarter. First Mercantile Trust Co. now owns 900 shares of the biotechnology company’s stock worth $90,000 after buying an additional 94 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Ligand Pharmaceuticals by 23.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 820 shares of the biotechnology company’s stock worth $95,000 after buying an additional 156 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Ligand Pharmaceuticals by 14.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,248 shares of the biotechnology company’s stock worth $129,000 after buying an additional 159 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Ligand Pharmaceuticals by 18.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,260 shares of the biotechnology company’s stock worth $131,000 after buying an additional 200 shares during the last quarter. Finally, Coe Capital Management LLC grew its stake in shares of Ligand Pharmaceuticals by 3.7% in the 3rd quarter. Coe Capital Management LLC now owns 6,066 shares of the biotechnology company’s stock worth $604,000 after buying an additional 218 shares during the last quarter.
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; Aziyo portfolio of 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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