Ligand Pharmaceuticals (NASDAQ:LGND) Announces Quarterly Earnings Results, Beats Expectations By $0.28 EPS

Ligand Pharmaceuticals (NASDAQ:LGND) announced its quarterly earnings results on Sunday. The biotechnology company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.28, MarketWatch Earnings reports. The business had revenue of $55.10 million for the quarter, compared to analysts’ expectations of $63.00 million. Ligand Pharmaceuticals had a positive return on equity of 5.90% and a negative net margin of 11.23%. The business’s quarterly revenue was up 66.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS.

Shares of NASDAQ:LGND traded down $11.66 during trading on Tuesday, hitting $133.57. The stock had a trading volume of 7,624 shares, compared to its average volume of 486,538. The company has a market capitalization of $2.22 billion, a PE ratio of -135.18, a PEG ratio of 1.46 and a beta of 1.46. The company has a quick ratio of 19.96, a current ratio of 20.28 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average is $152.30 and its 200 day moving average is $126.77. Ligand Pharmaceuticals has a 12 month low of $78.26 and a 12 month high of $219.75.

In other Ligand Pharmaceuticals news, SVP Charles S. Berkman sold 18,097 shares of the company’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $178.50, for a total value of $3,230,314.50. Following the sale, the senior vice president now owns 47,003 shares in the company, valued at $8,390,035.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Todd C. Davis sold 5,083 shares of the firm’s stock in a transaction that occurred on Wednesday, February 10th. The shares were sold at an average price of $213.14, for a total transaction of $1,083,390.62. Following the transaction, the director now directly owns 47,678 shares of the company’s stock, valued at approximately $10,162,088.92. The disclosure for this sale can be found here. Insiders have sold 67,727 shares of company stock worth $12,192,288 over the last 90 days. 10.60% of the stock is currently owned by corporate insiders.

Several research analysts recently commented on the stock. Stephens initiated coverage on shares of Ligand Pharmaceuticals in a research note on Wednesday, April 14th. They issued an “overweight” rating on the stock. Craig Hallum boosted their price objective on shares of Ligand Pharmaceuticals from $195.00 to $215.00 in a research report on Thursday, February 4th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and set a $162.00 target price for the company in a report on Tuesday, April 6th. Roth Capital boosted their price target on Ligand Pharmaceuticals from $195.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 4th. Finally, Barclays dropped their price objective on Ligand Pharmaceuticals from $198.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $205.33.

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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Earnings History for Ligand Pharmaceuticals (NASDAQ:LGND)

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