Brokers expect Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) to post earnings of $0.42 per share
Brokers expect Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Rating) to report earnings per share (EPS) of $0.42 for the current fiscal quarter, according to Zacks Investment Research. Two analysts made earnings estimates for Ligand Pharmaceuticals. Ligand Pharmaceuticals reported earnings of $1.63 per share in the same quarter last year, suggesting a negative 74.2% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Ligand Pharmaceuticals to report annual earnings of $2.59 per share for the current year, with EPS estimates ranging from $2.20 to $2.97. For the next fiscal year, analysts expect the company to post earnings of $3.79 per share, with EPS estimates ranging from $3.20 to $4.38. Zacks’ earnings per share calculations are an average average based on a survey of sell-side analysts who cover Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND – Get Rating) last reported results on Wednesday, May 4. The biotech company reported EPS of $0.15 for the quarter, missing analyst consensus estimates of $0.19 per ($0.04). The company posted revenue of $45.70 million for the quarter, compared to $34.21 million expected by analysts. Ligand Pharmaceuticals achieved a return on equity of 8.29% and a net margin of 9.00%. The company’s revenues were down 17.2% from the same quarter last year. During the same period last year, the company posted earnings per share of $1.03.
A number of stock analysts have recently commented on the stock. Barclays cut its price target on Ligand Pharmaceuticals shares from $185.00 to $165.00 and set an “overweight” rating on the stock in a Friday, February 18 research report. Benchmark cut its price target on Ligand Pharmaceuticals shares from $180.00 to $130.00 and set a “buy” rating on the stock in a Tuesday, February 22 report. Craig Hallum cut his price target on Ligand Pharmaceuticals shares from $215.00 to $160.00 in a Thursday, May 5 report. Stephens cut his price target on Ligand Pharmaceuticals shares to $130.00 and gave the stock an “na” rating in a Monday, May 16 report. Finally, Zacks Investment Research moved shares of Ligand Pharmaceuticals from a ‘strong sell’ rating to a ‘hold’ rating and set a price target of $108.00 on the stock in a Wednesday report. April 20. Two investment analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat.com, Ligand Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $170.43.
Shares of NASDAQ:LGND opened at $81.56 on Wednesday. The company has a market capitalization of $1.38 billion, a PE ratio of 59.10, a growth price-earnings ratio of 10.03 and a beta of 1.22. The company’s 50-day simple moving average is $100.27 and its 200-day simple moving average is $121.90. Ligand Pharmaceuticals has a 1-year low of $77.80 and a 1-year high of $169.98. The company has a debt ratio of 0.22, a quick ratio of 5.88 and a current ratio of 6.48.
Separately, director John W. Kozarich sold 908 shares of Ligand Pharmaceuticals in a trade on Monday, February 28. The shares were sold at an average price of $102.62, for a total transaction of $93,178.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, COO Matthew W. Foehr acquired 2,500 shares in a transaction dated Friday, May 13. The shares were purchased at an average price of $82.76 per share, with a total value of $206,900.00. Following the completion of the purchase, the COO now directly owns 173,354 shares of the company, valued at approximately $14,346,777.04. Disclosure of this purchase can be found here. 10.60% of the shares are held by insiders of the company.
Several large investors have recently bought and sold shares of the company. The Ohio Public Employees Retirement System increased its stake in Ligand Pharmaceuticals shares by 34.4% during the fourth quarter. The Ohio Public Employees Retirement System now owns 324 shares of the biotech company worth $50,000 after buying 83 more shares during the period. Harbor Investment Advisory LLC increased its position in Ligand Pharmaceuticals by 18.2% during the first quarter. Harbor Investment Advisory LLC now owns 623 shares of the biotech company valued at $70,000 after buying 96 additional shares during the period. Rockefeller Capital Management LP increased its position in Ligand Pharmaceuticals by 49.0% during the fourth quarter. Rockefeller Capital Management LP now owns 298 shares of the biotech company valued at $46,000 after buying 98 additional shares during the period. Louisiana State Employees Retirement System increased its position in Ligand Pharmaceuticals by 1.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the biotech company valued at $1,251,000 after purchasing an additional 100 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Ligand Pharmaceuticals by 2.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 4,140 shares of the biotech company valued at $669,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds hold 96.61% of the company’s shares.
Ligand Pharmaceuticals Company Profile (Get a rating)
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, is focused on developing or acquiring technologies that help pharmaceutical companies discover and develop drugs around the world. Its 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 osteoporosis; Vaxneuvance for the prevention of invasive diseases caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight pneumococcal pneumonia in children.
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