Wall Street analysts expect Ligand Pharmaceuticals Inc. (NASDAQ:LGND) to report $38.24 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ligand Pharmaceuticals’ earnings, with estimates ranging from $38.18 million to $38.30 million. Ligand Pharmaceuticals posted sales of $24.81 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 54.1%. The firm is scheduled to report its next quarterly earnings results on Tuesday, November 3rd.
On average, analysts expect that Ligand Pharmaceuticals will report full-year sales of $167.46 million for the current fiscal year, with estimates ranging from $166.80 million to $168.11 million. For the next year, analysts expect that the company will report sales of $248.51 million, with estimates ranging from $188.10 million to $308.92 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Monday, August 3rd. The biotechnology company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.24. The firm had revenue of $41.40 million during the quarter, compared to analyst estimates of $29.96 million. Ligand Pharmaceuticals had a negative net margin of 19.51% and a positive return on equity of 4.41%. Ligand Pharmaceuticals’s revenue was up 65.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS.
A number of analysts have recently weighed in on LGND shares. HC Wainwright reaffirmed a “buy” rating and issued a $229.00 price target on shares of Ligand Pharmaceuticals in a research note on Tuesday, August 11th. BidaskClub raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Benchmark upped their price target on shares of Ligand Pharmaceuticals from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Cantor Fitzgerald lowered shares of Ligand Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Friday, August 14th. Finally, Barclays upped their price target on shares of Ligand Pharmaceuticals from $134.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $171.00.
Ligand Pharmaceuticals stock traded down $1.05 during midday trading on Wednesday, reaching $97.15. 209,261 shares of the stock traded hands, compared to its average volume of 386,660. The company has a current ratio of 29.51, a quick ratio of 29.38 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average price of $101.92 and a two-hundred day moving average price of $102.61. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -70.40, a PEG ratio of 2.19 and a beta of 1.45. Ligand Pharmaceuticals has a fifty-two week low of $57.24 and a fifty-two week high of $127.80.
In other news, COO Matthew W. Foehr sold 7,225 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $112.88, for a total transaction of $815,558.00. Following the sale, the chief operating officer now owns 155,413 shares in the company, valued at $17,543,019.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Two Sigma Advisers LP raised its holdings in shares of Ligand Pharmaceuticals by 1.7% during the second quarter. Two Sigma Advisers LP now owns 195,172 shares of the biotechnology company’s stock valued at $21,830,000 after acquiring an additional 3,300 shares during the period. Two Sigma Securities LLC acquired a new position in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $208,000. Principal Financial Group Inc. increased its stake in Ligand Pharmaceuticals by 52.6% in the 2nd quarter. Principal Financial Group Inc. now owns 78,964 shares of the biotechnology company’s stock valued at $8,832,000 after buying an additional 27,209 shares during the period. Handelsbanken Fonder AB acquired a new position in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $432,000. Finally, Stephens Investment Management Group LLC increased its stake in Ligand Pharmaceuticals by 7.6% in the 2nd quarter. Stephens Investment Management Group LLC now owns 623,915 shares of the biotechnology company’s stock valued at $69,785,000 after buying an additional 44,290 shares during the period.
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.
Recommended Story: Why Net Income is Important to Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.