Equities analysts expect Ligand Pharmaceuticals Inc. (NASDAQ:LGND) to report $46.81 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Ligand Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $44.91 million and the highest estimate coming in at $49.26 million. Ligand Pharmaceuticals reported sales of $38.19 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Ligand Pharmaceuticals will report full year sales of $46.81 million for the current financial year, with estimates ranging from $135.55 million to $139.90 million. For the next year, analysts expect that the business will report sales of $169.31 million per share, with estimates ranging from $158.30 million to $195.35 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The firm had revenue of $33.38 million for the quarter, compared to the consensus estimate of $31.04 million. During the same period in the prior year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was up 54.4% on a year-over-year basis.
Several equities research analysts have recently weighed in on LGND shares. HC Wainwright reiterated a “buy” rating and issued a $159.00 price target on shares of Ligand Pharmaceuticals in a report on Wednesday, November 22nd. Roth Capital restated a “buy” rating and set a $158.00 price objective (up from $135.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 11th. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Finally, Deutsche Bank downgraded Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price objective on the stock. in a report on Monday, November 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $150.67.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) opened at $150.56 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals has a fifty-two week low of $95.08 and a fifty-two week high of $151.92. The firm has a market capitalization of $3,151.68, a P/E ratio of 218.20, a PEG ratio of 1.60 and a beta of 0.91.
In other news, VP Matthew E. Korenberg sold 6,559 shares of Ligand Pharmaceuticals stock in a transaction on Friday, November 17th. The stock was sold at an average price of $142.63, for a total value of $935,510.17. Following the transaction, the vice president now directly owns 8,147 shares in the company, valued at approximately $1,162,006.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen L. Sabba sold 925 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $137.25, for a total value of $126,956.25. Following the completion of the transaction, the director now owns 26,985 shares in the company, valued at $3,703,691.25. The disclosure for this sale can be found here. Insiders have sold a total of 20,253 shares of company stock worth $2,884,507 over the last 90 days. 8.30% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Ligand Pharmaceuticals by 2.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 130,742 shares of the biotechnology company’s stock worth $17,903,000 after purchasing an additional 2,950 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Ligand Pharmaceuticals by 1,202.1% in the 4th quarter. Bank of Montreal Can now owns 9,922 shares of the biotechnology company’s stock worth $1,359,000 after purchasing an additional 9,160 shares in the last quarter. Convergence Investment Partners LLC boosted its position in shares of Ligand Pharmaceuticals by 9.0% in the 4th quarter. Convergence Investment Partners LLC now owns 14,712 shares of the biotechnology company’s stock worth $2,015,000 after purchasing an additional 1,210 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Ligand Pharmaceuticals by 7.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the biotechnology company’s stock worth $1,246,000 after purchasing an additional 600 shares in the last quarter. Finally, Atlantic Trust Group LLC boosted its position in shares of Ligand Pharmaceuticals by 1.8% in the 3rd quarter. Atlantic Trust Group LLC now owns 143,839 shares of the biotechnology company’s stock worth $19,585,000 after purchasing an additional 2,540 shares in the last quarter.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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