Analysts Expect Ligand Pharmaceuticals Inc. (LGND) to Announce $30.01 EPS

Equities analysts forecast that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will announce earnings of $30.01 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Ligand Pharmaceuticals’ earnings. Ligand Pharmaceuticals posted earnings of $1.55 per share during the same quarter last year, which indicates a positive year over year growth rate of 1,836.1%. The business is expected to announce its next quarterly earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year earnings of $19.55 per share for the current financial year, with EPS estimates ranging from $6.05 to $33.04. For the next year, analysts anticipate that the company will post earnings of $4.27 per share, with EPS estimates ranging from $2.45 to $6.09. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Thursday, February 7th. The biotechnology company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.48. Ligand Pharmaceuticals had a return on equity of 26.00% and a net margin of 57.00%. The company had revenue of $59.59 million during the quarter, compared to analyst estimates of $52.58 million. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Ligand Pharmaceuticals’s revenue was up 18.1% on a year-over-year basis.

Several analysts have issued reports on the company. Zacks Investment Research raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. ValuEngine downgraded Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating and issued a $254.00 price objective on shares of Ligand Pharmaceuticals in a research report on Wednesday. BidaskClub upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Roth Capital lowered their price objective on Ligand Pharmaceuticals from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $210.57.

In other Ligand Pharmaceuticals news, CEO John L. Higgins bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $114.29 per share, for a total transaction of $285,725.00. Following the completion of the acquisition, the chief executive officer now directly owns 141,399 shares in the company, valued at $16,160,491.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.80% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Ligand Pharmaceuticals by 2.5% in the third quarter. BlackRock Inc. now owns 3,346,406 shares of the biotechnology company’s stock worth $918,554,000 after acquiring an additional 81,432 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ligand Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc. now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after acquiring an additional 66,789 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Ligand Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after acquiring an additional 66,789 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Ligand Pharmaceuticals by 44.1% in the third quarter. Renaissance Technologies LLC now owns 754,219 shares of the biotechnology company’s stock worth $207,026,000 after acquiring an additional 230,725 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Ligand Pharmaceuticals by 468.8% during the fourth quarter. Millennium Management LLC now owns 546,957 shares of the biotechnology company’s stock valued at $74,222,000 after buying an additional 450,791 shares during the last quarter.

Shares of NASDAQ LGND traded up $0.83 during midday trading on Friday, hitting $119.03. 1,474,075 shares of the company’s stock were exchanged, compared to its average volume of 809,939. Ligand Pharmaceuticals has a 12-month low of $98.56 and a 12-month high of $278.62. The company has a current ratio of 10.58, a quick ratio of 10.50 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 0.18 and a beta of 1.37.

About Ligand Pharmaceuticals

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; Aziyo portfolio of 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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