Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Expected to Post Quarterly Sales of $25.26 Million

Wall Street brokerages forecast that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will post $25.26 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Ligand Pharmaceuticals’ earnings, with estimates ranging from $24.42 million to $26.09 million. Ligand Pharmaceuticals posted sales of $59.59 million in the same quarter last year, which would indicate a negative year over year growth rate of 57.6%. The company is scheduled to report its next earnings results on Thursday, February 6th.

According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year sales of $118.54 million for the current year, with estimates ranging from $117.70 million to $119.37 million. For the next year, analysts expect that the firm will report sales of $125.33 million, with estimates ranging from $121.25 million to $129.40 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.12). The business had revenue of $24.81 million for the quarter, compared to the consensus estimate of $22.49 million. Ligand Pharmaceuticals had a net margin of 388.69% and a return on equity of 7.47%. The company’s revenue for the quarter was down 45.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 earnings per share.

LGND has been the topic of a number of recent research reports. ValuEngine raised Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Barclays raised Ligand Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $110.00 to $132.00 in a report on Thursday, September 19th. BidaskClub raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Zacks Investment Research downgraded Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 target price on the stock. in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Ligand Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $152.20.

In other news, Director Jason Aryeh bought 750 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $87.01 per share, with a total value of $65,257.50. Following the completion of the acquisition, the director now owns 67,203 shares in the company, valued at $5,847,333.03. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FTB Advisors Inc. bought a new position in shares of Ligand Pharmaceuticals in the second quarter worth about $26,000. Tower Research Capital LLC TRC raised its stake in shares of Ligand Pharmaceuticals by 188.6% in the second quarter. Tower Research Capital LLC TRC now owns 228 shares of the biotechnology company’s stock worth $26,000 after buying an additional 149 shares during the period. Quest Capital Management Inc. ADV bought a new position in shares of Ligand Pharmaceuticals in the third quarter worth about $27,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Ligand Pharmaceuticals by 1,763.6% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 410 shares of the biotechnology company’s stock worth $41,000 after buying an additional 388 shares during the period. Finally, Valeo Financial Advisors LLC bought a new position in shares of Ligand Pharmaceuticals in the second quarter worth about $46,000.

LGND stock traded up $0.26 during trading on Friday, reaching $103.77. The stock had a trading volume of 259,500 shares, compared to its average volume of 477,522. Ligand Pharmaceuticals has a 52 week low of $84.45 and a 52 week high of $166.52. The stock’s 50 day moving average is $106.64 and its two-hundred day moving average is $106.27. The company has a current ratio of 33.15, a quick ratio of 32.96 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.89 billion, a PE ratio of 16.52, a PEG ratio of 2.59 and a beta of 1.26.

Ligand Pharmaceuticals Company Profile

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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