Analysts Anticipate Ligand Pharmaceuticals Inc. (LGND) to Announce $1.06 Earnings Per Share
Equities research analysts predict that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will announce earnings per share (EPS) of $1.06 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ligand Pharmaceuticals’ earnings. The lowest EPS estimate is $1.04 and the highest is $1.07. Ligand Pharmaceuticals posted earnings per share of $0.74 during the same quarter last year, which suggests a positive year-over-year growth rate of 43.2%. The firm is expected to issue its next earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Ligand Pharmaceuticals will report full-year earnings of $2.97 per share for the current fiscal year, with EPS estimates ranging from $2.93 to $3.00. For the next year, analysts anticipate that the firm will report earnings of $3.70 per share, with EPS estimates ranging from $3.56 to $3.95. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.32. The business had revenue of $33.38 million for the quarter, compared to analysts’ expectations of $31.04 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. Ligand Pharmaceuticals’s quarterly revenue was up 54.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share.
A number of analysts have recently issued reports on LGND shares. HC Wainwright restated a “buy” rating and set a $150.00 price objective on shares of Ligand Pharmaceuticals in a research report on Tuesday, September 5th. Zacks Investment Research lowered Ligand Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Roth Capital reaffirmed a “buy” rating and issued a $158.00 price target (up previously from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. Craig Hallum reaffirmed a “buy” rating and issued a $170.00 price target (up previously from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. Finally, Deutsche Bank lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price target on the stock. in a research note on Monday, November 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Ligand Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $149.67.
Shares of Ligand Pharmaceuticals (NASDAQ LGND) opened at $136.04 on Friday. The stock has a market capitalization of $2,866.12, a P/E ratio of 102.11, a PEG ratio of 2.09 and a beta of 0.91. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals has a 1 year low of $95.08 and a 1 year high of $149.31.
In other Ligand Pharmaceuticals news, VP Matthew E. Korenberg sold 6,559 shares of the business’s 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 owns 8,147 shares of the company’s stock, valued at $1,162,006.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John L. Higgins sold 5,269 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $142.53, for a total value of $750,990.57. Following the completion of the transaction, the chief executive officer now directly owns 143,542 shares in the company, valued at approximately $20,459,041.26. The disclosure for this sale can be found here. In the last three months, insiders sold 16,828 shares of company stock worth $2,395,051. Insiders own 8.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. 361 Capital LLC bought a new stake in shares of Ligand Pharmaceuticals during the third quarter worth $2,099,000. Eagle Asset Management Inc. raised its position in shares of Ligand Pharmaceuticals by 7.7% during the second quarter. Eagle Asset Management Inc. now owns 490,841 shares of the biotechnology company’s stock worth $59,588,000 after acquiring an additional 35,289 shares during the last quarter. Round Table Services LLC bought a new stake in shares of Ligand Pharmaceuticals during the third quarter worth $205,000. Teacher Retirement System of Texas bought a new stake in shares of Ligand Pharmaceuticals during the second quarter worth $203,000. Finally, Willingdon Wealth Management raised its position in shares of Ligand Pharmaceuticals by 1.4% during the second quarter. Willingdon Wealth Management now owns 14,204 shares of the biotechnology company’s stock worth $1,724,000 after acquiring an additional 193 shares during the last quarter.
About Ligand Pharmaceuticals
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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