Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Expected to Post Quarterly Sales of $39.32 Million

Wall Street analysts expect Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Rating) to post sales of $39.32 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Ligand Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $38.44 million and the highest estimate coming in at $40.20 million. Ligand Pharmaceuticals reported sales of $84.68 million during the same quarter last year, which indicates a negative year over year growth rate of 53.6%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Ligand Pharmaceuticals will report full year sales of $159.45 million for the current year, with estimates ranging from $158.00 million to $160.90 million. For the next fiscal year, analysts anticipate that the firm will report sales of $204.95 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.10. The business had revenue of $45.70 million for the quarter, compared to the consensus estimate of $34.21 million. Ligand Pharmaceuticals had a return on equity of 10.29% and a net margin of 20.78%. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS.

A number of research analysts recently issued reports on LGND shares. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating and set a $108.00 price target on the stock in a research note on Wednesday, April 20th. StockNews.com began coverage on Ligand Pharmaceuticals in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Barclays lowered their target price on Ligand Pharmaceuticals from $185.00 to $165.00 and set an “overweight” rating on the stock in a research note on Friday, February 18th. Benchmark lowered their target price on Ligand Pharmaceuticals from $180.00 to $130.00 and set a “buy” rating on the stock in a research note on Tuesday, February 22nd. Finally, Craig Hallum lowered their target price on Ligand Pharmaceuticals from $215.00 to $160.00 in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of “Buy” and an average target price of $177.17.

NASDAQ:LGND opened at $90.68 on Friday. The stock’s 50 day moving average price is $105.02 and its 200 day moving average price is $127.50. The company has a market capitalization of $1.53 billion, a PE ratio of 27.15, a P/E/G ratio of 4.85 and a beta of 1.22. The company has a quick ratio of 10.50, a current ratio of 11.15 and a debt-to-equity ratio of 0.39. Ligand Pharmaceuticals has a 52-week low of $88.11 and a 52-week high of $169.98.

In other news, Director John W. Kozarich sold 908 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $102.62, for a total value of $93,178.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.60% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Ligand Pharmaceuticals by 49.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 98 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Ligand Pharmaceuticals by 34.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 324 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 83 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in Ligand Pharmaceuticals by 18.2% during the first quarter. Harbor Investment Advisory LLC now owns 623 shares of the biotechnology company’s stock worth $70,000 after purchasing an additional 96 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Ligand Pharmaceuticals by 279.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 876 shares of the biotechnology company’s stock worth $135,000 after purchasing an additional 645 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Ligand Pharmaceuticals by 58.9% during the third quarter. PNC Financial Services Group Inc. now owns 1,009 shares of the biotechnology company’s stock worth $141,000 after purchasing an additional 374 shares during the last quarter. 96.61% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Company Profile (Get Rating)

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its 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 osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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