Ligand Pharmaceuticals (LGND) Expected to Announce Quarterly Sales of $32.32 Million

Brokerages expect that Ligand Pharmaceuticals (NASDAQ:LGND) will report sales of $32.32 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Ligand Pharmaceuticals’ earnings, with the highest sales estimate coming in at $47.87 million and the lowest estimate coming in at $24.15 million. Ligand Pharmaceuticals reported sales of $29.27 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, May 8th.

On average, analysts expect that Ligand Pharmaceuticals will report full year sales of $185.78 million for the current fiscal year, with estimates ranging from $185.40 million to $186.16 million. For the next fiscal year, analysts anticipate that the firm will post sales of $207.88 million per share, with estimates ranging from $195.70 million to $217.94 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Wednesday, February 21st. The biotechnology company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.12. The business had revenue of $50.50 million during the quarter, compared to analysts’ expectations of $49.39 million. Ligand Pharmaceuticals had a net margin of 8.90% and a return on equity of 14.44%. The company’s quarterly revenue was up 32.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 earnings per share.

A number of research firms recently weighed in on LGND. HC Wainwright set a $169.00 price target on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. 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 boosted their price target on shares of Ligand Pharmaceuticals from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Roth Capital boosted their price target on shares of Ligand Pharmaceuticals from $158.00 to $171.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $161.00.

Shares of LGND stock traded up $1.90 on Friday, reaching $169.55. 67,837 shares of the company were exchanged, compared to its average volume of 310,028. The stock has a market capitalization of $3,512.91, a P/E ratio of 66.06, a P/E/G ratio of 1.42 and a beta of 0.90. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals has a 1 year low of $103.22 and a 1 year high of $184.79.

In related news, Director Todd C. Davis sold 17,170 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $152.37, for a total transaction of $2,616,192.90. Following the transaction, the director now directly owns 65,898 shares in the company, valued at $10,040,878.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Kozarich sold 2,500 shares of the business’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $160.43, for a total transaction of $401,075.00. The disclosure for this sale can be found here. Insiders have sold 99,587 shares of company stock worth $15,791,303 over the last 90 days. 8.30% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in Ligand Pharmaceuticals by 26.7% in the 3rd quarter. Janus Henderson Group PLC now owns 754,692 shares of the biotechnology company’s stock valued at $102,751,000 after purchasing an additional 159,201 shares during the last quarter. BlackRock Inc. boosted its holdings in Ligand Pharmaceuticals by 1.7% in the 4th quarter. BlackRock Inc. now owns 2,996,960 shares of the biotechnology company’s stock valued at $410,374,000 after purchasing an additional 51,259 shares during the last quarter. Swiss National Bank boosted its holdings in Ligand Pharmaceuticals by 4.3% in the 4th quarter. Swiss National Bank now owns 36,400 shares of the biotechnology company’s stock valued at $4,984,000 after purchasing an additional 1,500 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Ligand Pharmaceuticals by 15.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 127,792 shares of the biotechnology company’s stock valued at $17,399,000 after purchasing an additional 17,071 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in Ligand Pharmaceuticals by 74.0% in the 4th quarter. OppenheimerFunds Inc. now owns 252,961 shares of the biotechnology company’s stock valued at $34,638,000 after purchasing an additional 107,580 shares during the last quarter.

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Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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