Ligand Pharmaceuticals (LGND) to Release Earnings on Tuesday

Ligand Pharmaceuticals (NASDAQ:LGND) will issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $1.13 per share for the quarter. Ligand Pharmaceuticals has set its FY 2024 guidance at 4.250-4.750 EPS and its FY24 guidance at $4.25 to $4.75 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.24 by $0.55. The business had revenue of $28.10 million for the quarter, compared to analyst estimates of $24.54 million. Ligand Pharmaceuticals had a net margin of 37.80% and a return on equity of 11.98%. On average, analysts expect Ligand Pharmaceuticals to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Ligand Pharmaceuticals Stock Performance

LGND traded up $0.15 during midday trading on Tuesday, reaching $70.61. The company had a trading volume of 16,372 shares, compared to its average volume of 156,804. The business has a 50-day moving average price of $74.73 and a two-hundred day moving average price of $68.19. Ligand Pharmaceuticals has a 12-month low of $49.24 and a 12-month high of $94.57. The stock has a market cap of $1.25 billion, a PE ratio of 25.62 and a beta of 1.01.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LGND. Benchmark reissued a “buy” rating and issued a $95.00 target price on shares of Ligand Pharmaceuticals in a research report on Friday, April 12th. HC Wainwright reiterated a “buy” rating and set a $144.00 target price on shares of Ligand Pharmaceuticals in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Ligand Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $116.33.

Insider Activity

In other Ligand Pharmaceuticals news, Director Stephen L. Sabba sold 1,893 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $74.30, for a total value of $140,649.90. Following the transaction, the director now directly owns 28,926 shares in the company, valued at approximately $2,149,201.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.40% of the company’s stock.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.