Brokerages expect Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) to post $1.05 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ligand Pharmaceuticals’ earnings. Ligand Pharmaceuticals reported earnings per share of $0.89 during the same quarter last year, which would suggest a positive year over year growth rate of 18%. The business is expected to announce its next quarterly earnings results on Wednesday, May 5th.
On average, analysts expect that Ligand Pharmaceuticals will report full-year earnings of $6.15 per share for the current year. For the next fiscal year, analysts forecast that the firm will post earnings of $4.75 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Wednesday, February 3rd. The biotechnology company reported $1.62 EPS for the quarter, topping the consensus estimate of $0.99 by $0.63. The company had revenue of $69.90 million for the quarter, compared to analysts’ expectations of $53.94 million. Ligand Pharmaceuticals had a positive return on equity of 5.90% and a negative net margin of 11.23%. The business’s revenue for the quarter was up 158.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share.
In other news, Director Todd C. Davis sold 5,083 shares of the firm’s stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $213.14, for a total transaction of $1,083,390.62. Following the sale, the director now owns 47,678 shares of the company’s stock, valued at $10,162,088.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John L. Higgins sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, January 27th. The stock was sold at an average price of $182.00, for a total value of $7,280,000.00. Following the sale, the chief executive officer now directly owns 285,310 shares in the company, valued at approximately $51,926,420. The disclosure for this sale can be found here. Insiders sold 157,727 shares of company stock worth $27,422,288 in the last three months. Insiders own 10.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Ligand Pharmaceuticals during the third quarter worth about $27,000. International Assets Investment Management LLC acquired a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth about $30,000. Penserra Capital Management LLC raised its position in shares of Ligand Pharmaceuticals by 168.1% during the fourth quarter. Penserra Capital Management LLC now owns 370 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 232 shares during the period. CWM Advisors LLC acquired a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth about $210,000. Finally, BTC Capital Management Inc. acquired a new stake in Ligand Pharmaceuticals in the 4th quarter valued at approximately $212,000.
Shares of LGND stock traded up $3.99 during trading hours on Thursday, hitting $157.38. 1,241 shares of the company’s stock were exchanged, compared to its average volume of 590,776. The stock’s 50-day moving average is $152.05 and its 200-day moving average is $120.11. The company has a debt-to-equity ratio of 0.65, a current ratio of 20.28 and a quick ratio of 19.96. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -158.24, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46. Ligand Pharmaceuticals has a 52 week low of $78.00 and a 52 week high of $219.75.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. The company's 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 the treatment of osteoporosis; Nexterone, a captisol-enabled formulation of amiodarone; Zulresso, a captisol-enabled formulation of brexanolone for the treatment of PPD; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Duavee 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; Bryxta and Zybev for various indications; and Minnebro for the treatment of hypertension.
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