Ligand Pharmaceuticals (LGND) Scheduled to Post Quarterly Earnings on Tuesday

Ligand Pharmaceuticals (NASDAQ:LGND) is scheduled to release its earnings data after the market closes on Tuesday, August 6th. Analysts expect Ligand Pharmaceuticals to post earnings of $1.10 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $3.01. Ligand Pharmaceuticals had a return on equity of 8.52% and a net margin of 79.30%. The business had revenue of $30.90 million during the quarter, compared to the consensus estimate of $27.92 million. During the same period in the previous year, the business earned $1.96 EPS. The business’s quarterly revenue was down 29.8% on a year-over-year basis. On average, analysts expect Ligand Pharmaceuticals to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Ligand Pharmaceuticals Price Performance

LGND traded up $0.15 during trading hours on Tuesday, hitting $108.90. 43,842 shares of the stock were exchanged, compared to its average volume of 148,754. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 21.03 and a beta of 1.01. The stock has a 50-day simple moving average of $88.18 and a 200-day simple moving average of $79.83. Ligand Pharmaceuticals has a 12 month low of $49.24 and a 12 month high of $111.06.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LGND shares. Craig Hallum boosted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Royal Bank of Canada assumed coverage on Ligand Pharmaceuticals in a report on Tuesday. They issued an “outperform” rating and a $130.00 price target on the stock. Benchmark reaffirmed a “buy” rating and issued a $95.00 target price on shares of Ligand Pharmaceuticals in a research report on Friday, June 28th. Finally, HC Wainwright reissued a “buy” rating and set a $144.00 price target on shares of Ligand Pharmaceuticals in a report on Monday, July 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.25.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Nancy Ryan Gray sold 934 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $83.20, for a total transaction of $77,708.80. Following the transaction, the director now owns 5,633 shares of the company’s stock, valued at approximately $468,665.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $83.04, for a total value of $830,400.00. Following the completion of the transaction, the insider now directly owns 22,205 shares in the company, valued at $1,843,903.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nancy Ryan Gray sold 934 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $83.20, for a total transaction of $77,708.80. Following the sale, the director now directly owns 5,633 shares in the company, valued at $468,665.60. The disclosure for this sale can be found here. Insiders have sold a total of 25,403 shares of company stock worth $2,150,882 over the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Ligand Pharmaceuticals Company Profile

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.