Ligand Pharmaceuticals (NASDAQ:LGND) Releases FY 2022 Earnings Guidance

Ligand Pharmaceuticals (NASDAQ:LGND – Get Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.70-$2.20 for the period, compared to the consensus estimate of $3.22. The company issued revenue guidance of $147.00 million-$172.00 million, compared to the consensus revenue estimate of $162.39 million.

Shares of Ligand Pharmaceuticals stock traded down $7.24 during trading on Monday, hitting $81.24. The company’s stock had a trading volume of 234,420 shares, compared to its average volume of 164,374. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.48 and a quick ratio of 10.50. Ligand Pharmaceuticals has a 52 week low of $80.63 and a 52 week high of $169.98. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 64.12, a price-to-earnings-growth ratio of 4.47 and a beta of 1.22. The stock has a 50-day moving average price of $104.77 and a two-hundred day moving average price of $127.15.

Ligand Pharmaceuticals (NASDAQ:LGND – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.10. Ligand Pharmaceuticals had a net margin of 9.00% and a return on equity of 8.29%. The company had revenue of $45.70 million for the quarter, compared to analysts’ expectations of $34.21 million. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Ligand Pharmaceuticals’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, equities analysts predict that Ligand Pharmaceuticals will post 1.32 EPS for the current fiscal year.

LGND has been the topic of several analyst reports. StockNews.com cut shares of Ligand Pharmaceuticals from a hold rating to a sell rating in a research note on Friday. Benchmark cut their price target on shares of Ligand Pharmaceuticals from $180.00 to $130.00 and set a buy rating on the stock in a research report on Tuesday, February 22nd. Barclays cut their price target on shares of Ligand Pharmaceuticals from $185.00 to $165.00 and set an overweight rating on the stock in a research report on Friday, February 18th. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a strong sell rating to a hold rating and set a $108.00 price target on the stock in a research report on Wednesday, April 20th. Finally, Craig Hallum cut their price target on shares of Ligand Pharmaceuticals from $215.00 to $160.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $177.17.

In other news, Director John W. Kozarich sold 908 shares of the stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $102.62, for a total transaction of $93,178.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC boosted its position in Ligand Pharmaceuticals by 9.6% in the third quarter. LPL Financial LLC now owns 3,033 shares of the biotechnology company’s stock worth $423,000 after purchasing an additional 266 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Ligand Pharmaceuticals by 45.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 87,876 shares of the biotechnology company’s stock worth $13,574,000 after purchasing an additional 27,519 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Ligand Pharmaceuticals by 48.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 3,116 shares of the biotechnology company’s stock worth $481,000 after purchasing an additional 1,010 shares during the last quarter. Legal & General Group Plc boosted its position in Ligand Pharmaceuticals by 3.2% in the fourth quarter. Legal & General Group Plc now owns 46,997 shares of the biotechnology company’s stock worth $7,259,000 after purchasing an additional 1,450 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in Ligand Pharmaceuticals by 27.8% in the fourth quarter. Advisors Asset Management Inc. now owns 9,035 shares of the biotechnology company’s stock worth $1,396,000 after purchasing an additional 1,965 shares during the last quarter. Institutional investors own 96.61% of the company’s stock.

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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