Ligand Pharmaceuticals (NASDAQ:LGND) issued its quarterly earnings data on Wednesday. The biotechnology company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.12, Bloomberg Earnings reports. The firm had revenue of $50.50 million for the quarter, compared to the consensus estimate of $49.39 million. Ligand Pharmaceuticals had a net margin of 12.76% and a return on equity of 7.83%. Ligand Pharmaceuticals’s quarterly revenue was up 32.2% compared to the same quarter last year. During the same period last year, the firm posted $1.25 EPS. Ligand Pharmaceuticals updated its FY18 guidance to $4.22 EPS.
Ligand Pharmaceuticals (NASDAQ:LGND) traded up $0.83 during mid-day trading on Thursday, hitting $156.34. 211,500 shares of the company’s stock were exchanged, compared to its average volume of 288,148. Ligand Pharmaceuticals has a one year low of $95.08 and a one year high of $170.30. The company has a market cap 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. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95.
LGND has been the topic of several recent research reports. HC Wainwright set a $169.00 price objective on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, December 27th. Deutsche Bank downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price objective on the stock. in a research report on Monday, November 20th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ligand Pharmaceuticals has a consensus rating of “Buy” and an average price target of $150.83.
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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