Ligand Pharmaceuticals (LGND) Updates FY18 Earnings Guidance

Ligand Pharmaceuticals (NASDAQ:LGND) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.22 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.91. The company issued revenue guidance of $164 million, compared to the consensus revenue estimate of $166.87 million.

Several brokerages recently issued reports on LGND. BidaskClub upgraded shares of Ligand Pharmaceuticals from a buy rating to a strong-buy rating in a report on Friday, January 5th. Craig Hallum reissued a buy rating and set a $170.00 price objective (up from $160.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 15th. HC Wainwright reissued a buy rating and set a $169.00 price objective on shares of Ligand Pharmaceuticals in a research report on Thursday, January 18th. Deutsche Bank downgraded Ligand Pharmaceuticals from a hold rating to a sell rating and set a $105.00 price objective for the company. in a research report on Monday, November 20th. Finally, Roth Capital set a $158.00 price objective on Ligand Pharmaceuticals and gave the stock a buy rating in a research report on Monday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $150.83.

Shares of Ligand Pharmaceuticals (NASDAQ:LGND) traded up $0.83 on Thursday, reaching $156.34. The company had a trading volume of 211,500 shares, compared to its average volume of 287,305. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95. The firm has a market capitalization of $3,282.11, a P/E ratio of 226.58, a price-to-earnings-growth ratio of 1.67 and a beta of 1.07. Ligand Pharmaceuticals has a 52-week low of $95.08 and a 52-week high of $170.30.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.39. The firm had revenue of $50.50 million during the quarter, compared to the consensus estimate of $49.39 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The firm’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. equities research analysts predict that Ligand Pharmaceuticals will post 3.15 EPS for the current fiscal year.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $157.03, for a total value of $1,413,270.00. Following the completion of the sale, the chief executive officer now owns 102,700 shares in the company, valued at $16,126,981. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen L. Sabba sold 925 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 26,985 shares of the company’s stock, valued at approximately $3,703,691.25. The disclosure for this sale can be found here. Insiders sold 63,024 shares of company stock valued at $9,934,043 over the last ninety days. 8.30% of the stock is currently owned by corporate insiders.

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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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