Ligand Pharmaceuticals (LGND) Set to Announce Earnings on Tuesday

Ligand Pharmaceuticals (NASDAQ:LGND) is scheduled to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Ligand Pharmaceuticals to post earnings of $1.13 per share for the quarter. Ligand Pharmaceuticals has set its FY 2024 guidance at 4.250-4.750 EPS and its FY24 guidance at $4.25 to $4.75 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Tuesday, February 27th. The biotechnology company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.55. Ligand Pharmaceuticals had a return on equity of 11.98% and a net margin of 37.80%. The business had revenue of $28.10 million during the quarter, compared to the consensus estimate of $24.54 million. On average, analysts expect Ligand Pharmaceuticals to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Ligand Pharmaceuticals Stock Up 2.2 %

Shares of LGND opened at $73.90 on Friday. Ligand Pharmaceuticals has a 52-week low of $49.24 and a 52-week high of $94.57. The company has a market capitalization of $1.31 billion, a PE ratio of 26.87 and a beta of 1.01. The stock has a fifty day simple moving average of $74.53 and a two-hundred day simple moving average of $68.65.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Benchmark reissued a “buy” rating and set a $95.00 price objective on shares of Ligand Pharmaceuticals in a research report on Friday, April 12th. HC Wainwright reaffirmed a “buy” rating and issued a $144.00 target price on shares of Ligand Pharmaceuticals in a research report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.33.

Insider Activity

In other news, Director Stephen L. Sabba sold 1,893 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $74.30, for a total value of $140,649.90. Following the completion of the transaction, the director now owns 28,926 shares in the company, valued at approximately $2,149,201.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.40% of the company’s stock.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.