Equities research analysts forecast that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will report sales of $44.07 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Ligand Pharmaceuticals’ earnings, with estimates ranging from $43.60 million to $44.54 million. Ligand Pharmaceuticals reported sales of $56.16 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 21.5%. The company is expected to issue its next quarterly earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year sales of $223.56 million for the current fiscal year, with estimates ranging from $222.50 million to $224.61 million. For the next fiscal year, analysts expect that the firm will post sales of $246.55 million, with estimates ranging from $232.80 million to $260.30 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results 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 net margin of 57.00% and a return on equity of 26.00%. The business had revenue of $59.59 million during the quarter, compared to analysts’ expectations of $52.58 million. During the same quarter in the prior year, the company posted $1.31 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis.
Several analysts have issued reports on the stock. TheStreet lowered shares of Ligand Pharmaceuticals from a “b-” rating to a “c+” rating in a research report on Wednesday, January 2nd. ValuEngine lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. BidaskClub lowered shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 27th. Roth Capital raised shares of Ligand Pharmaceuticals from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $250.00 to $195.00 in a research report on Monday, October 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $281.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $216.57.
LGND traded up $0.16 during trading hours on Friday, hitting $118.91. 399,100 shares of the company’s stock were exchanged, compared to its average volume of 835,750. Ligand Pharmaceuticals has a 1-year low of $98.56 and a 1-year high of $278.62. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.16 and a beta of 1.40. The company has a current ratio of 10.59, a quick ratio of 10.50 and a debt-to-equity ratio of 1.09.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. raised its position in shares of Ligand Pharmaceuticals by 74.0% in the second quarter. Advisors Asset Management Inc. now owns 6,402 shares of the biotechnology company’s stock valued at $1,326,000 after purchasing an additional 2,723 shares during the period. FMR LLC raised its position in shares of Ligand Pharmaceuticals by 3.3% in the second quarter. FMR LLC now owns 440,584 shares of the biotechnology company’s stock valued at $91,276,000 after purchasing an additional 14,017 shares during the period. Bank of Montreal Can raised its position in shares of Ligand Pharmaceuticals by 3.5% in the third quarter. Bank of Montreal Can now owns 9,672 shares of the biotechnology company’s stock valued at $2,655,000 after purchasing an additional 324 shares during the period. First Hawaiian Bank bought a new position in shares of Ligand Pharmaceuticals in the third quarter valued at about $131,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Ligand Pharmaceuticals by 5,128.7% in the third quarter. Nisa Investment Advisors LLC now owns 7,843 shares of the biotechnology company’s stock valued at $2,153,000 after purchasing an additional 7,693 shares during the period.
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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