Ligand Pharmaceuticals (NASDAQ:LGND) posted its quarterly earnings results on Sunday. The biotechnology company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.28, MarketWatch Earnings reports. Ligand Pharmaceuticals had a positive return on equity of 5.90% and a negative net margin of 11.23%. The business had revenue of $55.10 million during the quarter, compared to the consensus estimate of $63.00 million. During the same period last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 66.0% compared to the same quarter last year.
Shares of Ligand Pharmaceuticals stock traded down $13.21 on Tuesday, hitting $132.02. 308,110 shares of the company traded hands, compared to its average volume of 484,452. The company has a market cap of $2.20 billion, a PE ratio of -133.37, a PEG ratio of 1.46 and a beta of 1.46. Ligand Pharmaceuticals has a 12-month low of $78.26 and a 12-month high of $219.75. The company has a 50-day moving average price of $152.30 and a 200 day moving average price of $126.77. The company has a quick ratio of 19.96, a current ratio of 20.28 and a debt-to-equity ratio of 0.65.
In other Ligand Pharmaceuticals news, Director Todd C. Davis sold 5,083 shares of the business’s stock in a transaction on Wednesday, February 10th. The shares were sold at an average price of $213.14, for a total transaction of $1,083,390.62. Following the completion of the transaction, the director now owns 47,678 shares of the company’s stock, valued at approximately $10,162,088.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Matthew W. Foehr sold 44,547 shares of the business’s stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $176.86, for a total transaction of $7,878,582.42. Following the transaction, the chief operating officer now directly owns 167,198 shares of the company’s stock, valued at approximately $29,570,638.28. The disclosure for this sale can be found here. Insiders sold 67,727 shares of company stock valued at $12,192,288 over the last quarter. 10.60% of the stock is currently owned by corporate insiders.
A number of equities analysts have commented on LGND shares. Stephens started coverage on Ligand Pharmaceuticals in a research note on Wednesday, April 14th. They issued an “overweight” rating for the company. Barclays reduced their price objective on Ligand Pharmaceuticals from $198.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday. Zacks Investment Research raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and set a $162.00 target price on the stock in a report on Tuesday, April 6th. Roth Capital boosted their target price on Ligand Pharmaceuticals from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Finally, Craig Hallum boosted their target price on Ligand Pharmaceuticals from $195.00 to $215.00 in a report on Thursday, February 4th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $205.33.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. The company's commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for the treatment of osteoporosis; Nexterone, a captisol-enabled formulation of amiodarone; Zulresso, a captisol-enabled formulation of brexanolone for the treatment of PPD; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Duavee 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; Bryxta and Zybev for various indications; and Minnebro for the treatment of hypertension.
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