Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Expected to Announce Earnings of $0.65 Per Share

Analysts predict that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will post earnings of $0.65 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Ligand Pharmaceuticals’ earnings. Ligand Pharmaceuticals posted earnings of $1.32 per share during the same quarter last year, which would suggest a negative year over year growth rate of 50.8%. The firm is expected to report its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Ligand Pharmaceuticals will report full-year earnings of $3.25 per share for the current financial year. For the next financial year, analysts forecast that the company will report earnings of $4.00 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.30. Ligand Pharmaceuticals had a return on equity of 11.24% and a net margin of 389.58%. The company had revenue of $24.99 million during the quarter, compared to analysts’ expectations of $21.01 million. During the same period last year, the firm earned $2.59 EPS. The firm’s revenue for the quarter was down 72.2% on a year-over-year basis.

A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, August 30th. ValuEngine cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Barclays decreased their price objective on shares of Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. Argus set a $140.00 target price on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Ligand Pharmaceuticals has an average rating of “Hold” and an average target price of $147.80.

In related news, CEO John L. Higgins bought 1,850 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average price of $95.45 per share, with a total value of $176,582.50. Following the purchase, the chief executive officer now owns 146,749 shares in the company, valued at $14,007,192.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jason Aryeh bought 750 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $87.01 per share, for a total transaction of $65,257.50. Following the acquisition, the director now owns 67,203 shares in the company, valued at approximately $5,847,333.03. The disclosure for this purchase can be found here. Insiders acquired 8,600 shares of company stock worth $828,747 in the last three months. 8.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. AMI Asset Management Corp lifted its position in shares of Ligand Pharmaceuticals by 20.3% in the second quarter. AMI Asset Management Corp now owns 121,491 shares of the biotechnology company’s stock valued at $13,868,000 after acquiring an additional 20,483 shares in the last quarter. Atria Investments LLC purchased a new stake in Ligand Pharmaceuticals during the 2nd quarter worth about $396,000. WCM Investment Management LLC raised its stake in Ligand Pharmaceuticals by 104.3% in the 2nd quarter. WCM Investment Management LLC now owns 5,831 shares of the biotechnology company’s stock valued at $666,000 after purchasing an additional 2,977 shares during the last quarter. Stephens Inc. AR raised its stake in Ligand Pharmaceuticals by 1,750.6% in the 1st quarter. Stephens Inc. AR now owns 50,189 shares of the biotechnology company’s stock valued at $6,309,000 after purchasing an additional 47,477 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Ligand Pharmaceuticals by 78.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 16,680 shares of the biotechnology company’s stock valued at $1,902,000 after purchasing an additional 7,340 shares in the last quarter.

Shares of NASDAQ LGND traded up $1.61 during mid-day trading on Friday, hitting $91.80. 521,705 shares of the company were exchanged, compared to its average volume of 498,553. The company has a quick ratio of 13.15, a current ratio of 13.23 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $94.62 and a 200-day simple moving average of $112.31. Ligand Pharmaceuticals has a 1-year low of $84.45 and a 1-year high of $278.62. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30.

About Ligand Pharmaceuticals

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; Aziyo portfolio of 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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