Analysts expect Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) to announce $69.23 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Ligand Pharmaceuticals’ earnings, with the highest sales estimate coming in at $71.90 million and the lowest estimate coming in at $66.55 million. Ligand Pharmaceuticals posted sales of $41.42 million during the same quarter last year, which would indicate a positive year over year growth rate of 67.1%. The business is expected to report its next quarterly earnings results on Monday, August 2nd.

According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year sales of $293.03 million for the current fiscal year, with estimates ranging from $291.16 million to $294.90 million. For the next year, analysts forecast that the company will post sales of $272.34 million, with estimates ranging from $211.97 million to $332.70 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Sunday, May 2nd. The biotechnology company reported $1.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.28. Ligand Pharmaceuticals had a positive return on equity of 5.90% and a negative net margin of 11.23%. The company had revenue of $55.10 million during the quarter, compared to analyst estimates of $63.00 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. Ligand Pharmaceuticals’s revenue was up 66.0% compared to the same quarter last year.

Several analysts have issued reports on the company. Roth Capital boosted their price target on Ligand Pharmaceuticals from $195.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 4th. Barclays cut their price target on Ligand Pharmaceuticals from $198.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday. Craig Hallum boosted their price target on Ligand Pharmaceuticals from $195.00 to $215.00 in a report on Thursday, February 4th. Stephens started coverage on Ligand Pharmaceuticals in a report on Wednesday, April 14th. They set an “overweight” rating for the company. Finally, Zacks Investment Research upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and set a $162.00 price objective on the stock in a research report on Tuesday, April 6th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $205.33.

In related news, COO Matthew W. Foehr sold 44,547 shares of the business’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $176.86, for a total value of $7,878,582.42. Following the sale, the chief operating officer now directly owns 167,198 shares in the company, valued at $29,570,638.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Charles S. Berkman sold 18,097 shares of the business’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $178.50, for a total value of $3,230,314.50. Following the completion of the sale, the senior vice president now owns 47,003 shares in the company, valued at $8,390,035.50. The disclosure for this sale can be found here. Insiders sold 67,727 shares of company stock worth $12,192,288 over the last 90 days. Company insiders own 10.60% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Sei Investments Co. raised its position in Ligand Pharmaceuticals by 27.7% during the third quarter. Sei Investments Co. now owns 59,112 shares of the biotechnology company’s stock valued at $5,634,000 after purchasing an additional 12,821 shares during the period. Virtu Financial LLC raised its position in Ligand Pharmaceuticals by 14.6% during the third quarter. Virtu Financial LLC now owns 3,827 shares of the biotechnology company’s stock valued at $365,000 after purchasing an additional 488 shares during the period. OLD National Bancorp IN purchased a new stake in Ligand Pharmaceuticals during the fourth quarter valued at approximately $228,000. Smith Graham & Co. Investment Advisors LP raised its position in Ligand Pharmaceuticals by 32.3% during the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 97,542 shares of the biotechnology company’s stock valued at $9,701,000 after purchasing an additional 23,813 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Ligand Pharmaceuticals during the fourth quarter valued at approximately $30,000.

NASDAQ:LGND traded down $13.21 during mid-day trading on Tuesday, hitting $132.02. 308,110 shares of the company traded hands, compared to its average volume of 484,452. The stock’s fifty day moving average price is $151.91 and its 200-day moving average price is $127.01. Ligand Pharmaceuticals has a one year low of $78.26 and a one year high of $219.75. The company has a quick ratio of 19.96, a current ratio of 20.28 and a debt-to-equity ratio of 0.65. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -133.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. The company's commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for the treatment of osteoporosis; Nexterone, a captisol-enabled formulation of amiodarone; Zulresso, a captisol-enabled formulation of brexanolone for the treatment of PPD; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Duavee 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; Bryxta and Zybev for various indications; and Minnebro for the treatment of hypertension.

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