Brokerages Anticipate Ligand Pharmaceuticals Inc. (LGND) to Post $1.00 EPS

Equities analysts predict that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will announce $1.00 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ligand Pharmaceuticals’ earnings. Ligand Pharmaceuticals reported earnings of $0.69 per share in the same quarter last year, which indicates a positive year over year growth rate of 44.9%. The firm is expected to report its next earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Ligand Pharmaceuticals will report full-year earnings of $6.33 per share for the current year, with EPS estimates ranging from $6.30 to $6.35. For the next year, analysts anticipate that the business will report earnings of $5.64 per share, with EPS estimates ranging from $5.17 to $6.10. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Monday, August 6th. The biotechnology company reported $2.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.34 by $0.25. Ligand Pharmaceuticals had a return on equity of 25.95% and a net margin of 52.10%. The company had revenue of $90.00 million during the quarter, compared to the consensus estimate of $82.20 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. The company’s revenue was up 221.4% compared to the same quarter last year.

Several research analysts recently commented on LGND shares. BidaskClub cut Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 13th. Argus started coverage on Ligand Pharmaceuticals in a research note on Thursday, June 21st. They issued a “buy” rating on the stock. Craig Hallum reiterated a “buy” rating and issued a $230.00 price target on shares of Ligand Pharmaceuticals in a research note on Wednesday, June 27th. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Thursday, June 28th. Finally, Stephens reiterated a “buy” rating and issued a $248.00 price target on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Ligand Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $223.88.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 34,500 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $241.96, for a total transaction of $8,347,620.00. Following the sale, the chief executive officer now owns 110,426 shares in the company, valued at $26,718,674.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Kozarich sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $275.04, for a total value of $687,600.00. Following the sale, the director now owns 26,142 shares in the company, valued at approximately $7,190,095.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,422 shares of company stock worth $29,662,477. Insiders own 7.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in LGND. Summit Trail Advisors LLC raised its stake in Ligand Pharmaceuticals by 14,496.1% during the first quarter. Summit Trail Advisors LLC now owns 1,948,730 shares of the biotechnology company’s stock valued at $1,949,000 after buying an additional 1,935,379 shares in the last quarter. BlackRock Inc. raised its stake in Ligand Pharmaceuticals by 8.3% during the second quarter. BlackRock Inc. now owns 3,264,974 shares of the biotechnology company’s stock valued at $676,405,000 after buying an additional 251,145 shares in the last quarter. Renaissance Technologies LLC raised its stake in Ligand Pharmaceuticals by 43.7% during the second quarter. Renaissance Technologies LLC now owns 523,494 shares of the biotechnology company’s stock valued at $108,452,000 after buying an additional 159,100 shares in the last quarter. Janus Henderson Group PLC raised its stake in Ligand Pharmaceuticals by 6.3% during the second quarter. Janus Henderson Group PLC now owns 927,101 shares of the biotechnology company’s stock valued at $192,068,000 after buying an additional 54,990 shares in the last quarter. Finally, UBS Group AG raised its stake in Ligand Pharmaceuticals by 465.7% during the first quarter. UBS Group AG now owns 62,154 shares of the biotechnology company’s stock valued at $10,265,000 after buying an additional 51,166 shares in the last quarter.

Shares of NASDAQ:LGND traded down $7.14 during trading on Monday, hitting $247.10. The company’s stock had a trading volume of 433,377 shares, compared to its average volume of 338,390. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.32 and a current ratio of 2.34. Ligand Pharmaceuticals has a fifty-two week low of $126.50 and a fifty-two week high of $278.62. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 98.62, a price-to-earnings-growth ratio of 2.39 and a beta of 1.06.

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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