Ligand Pharmaceuticals (NASDAQ:LGND) Issues FY25 Earnings Guidance

Ligand Pharmaceuticals (NASDAQ:LGND) issued an update on its FY25 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.00-6.25 for the period, compared to the consensus EPS estimate of $6.03. The company issued revenue guidance of $180-200 million, compared to the consensus revenue estimate of $183.10 million. Ligand Pharmaceuticals also updated its FY24 guidance to $5.50-5.70 EPS.

Analyst Upgrades and Downgrades

LGND has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on Ligand Pharmaceuticals from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Benchmark increased their price objective on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Barclays boosted their target price on shares of Ligand Pharmaceuticals from $125.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $157.00 price target on shares of Ligand Pharmaceuticals in a research note on Friday, November 8th. Finally, Oppenheimer boosted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $144.83.

Ligand Pharmaceuticals Stock Up 3.0 %

Ligand Pharmaceuticals stock opened at $119.88 on Tuesday. The firm has a market capitalization of $2.27 billion, a P/E ratio of 46.35 and a beta of 1.01. The firm has a fifty day moving average of $112.78 and a 200-day moving average of $101.44. Ligand Pharmaceuticals has a 52-week low of $60.28 and a 52-week high of $129.90.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, COO Matthew E. Korenberg sold 9,772 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $101.22, for a total value of $989,121.84. Following the completion of the transaction, the chief operating officer now directly owns 50,777 shares in the company, valued at approximately $5,139,647.94. This represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Reardon sold 2,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $99.60, for a total transaction of $199,200.00. Following the sale, the insider now directly owns 22,534 shares of the company’s stock, valued at approximately $2,244,386.40. The trade was a 8.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,728 shares of company stock valued at $2,271,575 over the last three months. 5.90% of the stock is owned by company insiders.

About Ligand Pharmaceuticals

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.