Equities analysts expect Ligand Pharmaceuticals Inc. (NASDAQ:LGND) to report sales of $25.99 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ligand Pharmaceuticals’ earnings, with estimates ranging from $24.15 million to $28.87 million. Ligand Pharmaceuticals reported sales of $29.27 million in the same quarter last year, which would suggest a negative year over year growth rate of 11.2%. The company is expected to issue its next earnings report on Tuesday, May 8th.
On average, analysts expect that Ligand Pharmaceuticals will report full-year sales of $25.99 million for the current fiscal year, with estimates ranging from $166.16 million to $185.40 million. For the next financial year, analysts forecast that the firm will report sales of $207.88 million per share, with estimates ranging from $195.70 million to $217.94 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.12. The firm had revenue of $50.50 million for the quarter, compared to analyst estimates of $49.39 million. Ligand Pharmaceuticals had a net margin of 8.90% and a return on equity of 14.44%. Ligand Pharmaceuticals’s quarterly revenue was up 32.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 earnings per share.
A number of research firms recently weighed in on LGND. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Craig Hallum restated a “buy” rating and set a $170.00 price target (up from $160.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 15th. HC Wainwright restated a “buy” rating and set a $169.00 price target on shares of Ligand Pharmaceuticals in a research report on Thursday, January 18th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $171.00 price target on the stock in a research report on Wednesday, February 28th. Finally, Deutsche Bank lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price target on the stock. in a research report on Monday, November 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $161.00.
Ligand Pharmaceuticals (NASDAQ LGND) traded up $1.00 on Friday, reaching $179.10. 430,392 shares of the company were exchanged, compared to its average volume of 308,066. The firm has a market capitalization of $3,780.00, a price-to-earnings ratio of 351.18, a PEG ratio of 1.85 and a beta of 1.10. Ligand Pharmaceuticals has a 52-week low of $102.56 and a 52-week high of $184.79. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.05.
In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 28,099 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $153.70, for a total value of $4,318,816.30. Following the transaction, the chief executive officer now directly owns 162,299 shares in the company, valued at approximately $24,945,356.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen L. Sabba sold 622 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $180.73, for a total transaction of $112,414.06. Following the completion of the transaction, the director now owns 26,363 shares in the company, valued at $4,764,584.99. The disclosure for this sale can be found here. Insiders sold a total of 100,512 shares of company stock worth $15,879,684 over the last quarter. 8.30% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ligand Pharmaceuticals by 48.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 359 shares during the last quarter. M&T Bank Corp boosted its holdings in Ligand Pharmaceuticals by 22.9% in the 4th quarter. M&T Bank Corp now owns 1,947 shares of the biotechnology company’s stock valued at $267,000 after purchasing an additional 363 shares during the last quarter. Meadow Creek Investment Management LLC boosted its holdings in Ligand Pharmaceuticals by 27.9% in the 4th quarter. Meadow Creek Investment Management LLC now owns 1,760 shares of the biotechnology company’s stock valued at $241,000 after purchasing an additional 384 shares during the last quarter. Willingdon Wealth Management boosted its holdings in Ligand Pharmaceuticals by 2.7% in the 4th quarter. Willingdon Wealth Management now owns 15,075 shares of the biotechnology company’s stock valued at $2,064,000 after purchasing an additional 395 shares during the last quarter. Finally, Intrust Bank NA boosted its holdings in Ligand Pharmaceuticals by 18.5% in the 3rd quarter. Intrust Bank NA now owns 2,556 shares of the biotechnology company’s stock valued at $348,000 after purchasing an additional 399 shares during the last quarter.
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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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