Ligand Pharmaceuticals (NASDAQ:LGND) Posts Earnings Results, Misses Expectations By $0.12 EPS

Ligand Pharmaceuticals (NASDAQ:LGND) issued its quarterly earnings results on Tuesday. The biotechnology company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.12), RTT News reports. Ligand Pharmaceuticals had a return on equity of 7.38% and a net margin of 388.69%. The firm had revenue of $24.81 million for the quarter, compared to analysts’ expectations of $22.49 million. During the same quarter in the previous year, the firm posted $1.32 earnings per share. The firm’s revenue for the quarter was down 45.7% compared to the same quarter last year. Ligand Pharmaceuticals updated its FY19 guidance to ~$3.00 EPS.

Shares of LGND traded up $7.17 during trading hours on Friday, hitting $108.80. 502,000 shares of the stock were exchanged, compared to its average volume of 480,837. The company has a debt-to-equity ratio of 0.61, a quick ratio of 13.15 and a current ratio of 13.23. Ligand Pharmaceuticals has a 12-month low of $84.45 and a 12-month high of $169.21. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 2.45 and a beta of 1.26. The stock’s 50-day moving average price is $105.51 and its two-hundred day moving average price is $107.27.

In other news, Director Jason Aryeh purchased 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $87.01 per share, for a total transaction of $65,257.50. Following the completion of the transaction, the director now owns 67,203 shares of the company’s stock, valued at $5,847,333.03. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.40% of the stock is currently owned by insiders.

Several analysts recently commented on LGND shares. Barclays upgraded Ligand Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $110.00 to $132.00 in a research report on Thursday, September 19th. Zacks Investment Research cut Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. BidaskClub upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, ValuEngine upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $152.20.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene 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; and Bryxta for non-small cell lung cancer.

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Earnings History for Ligand Pharmaceuticals (NASDAQ:LGND)

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