Zacks: Analysts expect Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) to post earnings of $0.61 per share


Wall Street analysts expect Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet a rating) will report earnings per share of $0.61 for the current quarter, Zacks reports. Two analysts released earnings estimates for Ligand Pharmaceuticals. Ligand Pharmaceuticals reported earnings of $1.41 per share in the same quarter last year, suggesting a negative 56.7% year-over-year growth rate. The company is expected to announce its next quarterly earnings report on Monday, January 1.

On average, analysts expect Ligand Pharmaceuticals to report full year earnings of $2.99 ​​per share for the current fiscal year, with EPS estimates ranging from $2.97 to $3.00. For the next fiscal year, analysts expect the company to report earnings of $4.45 per share, with EPS estimates ranging from $4.39 to $4.50. Zacks Investment Research EPS averages are an average based on a survey of sell-side research analysts who track Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGNDGet a rating) last released its quarterly earnings data on Thursday, February 17. The biotech company reported EPS of $1.34 for the quarter, beating the consensus estimate of $0.97 by $0.37. Ligand Pharmaceuticals achieved a net margin of 20.78% and a return on equity of 10.29%. The company posted revenue of $72.47 million for the quarter, versus analyst estimates of $62.70 million. During the same period a year earlier, the company posted EPS of $1.20.

LGND has been the subject of a number of research reports. Benchmark cut its price target on Ligand Pharmaceuticals shares from $180.00 to $130.00 and set a “buy” rating on the stock in a Tuesday, February 22 report. Barclays cut its price target on Ligand Pharmaceuticals shares from $185.00 to $165.00 and set an “overweight” rating on the stock in a Friday, February 18 report. Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a target price of $86.00 for the stock. in a report on Monday, February 28. HC Wainwright reiterated a “buy” rating and set a target price of $310.00 on Ligand Pharmaceuticals shares in a Wednesday, December 22 report. To finish, StockNews.com launched a hedge on the shares of Ligand Pharmaceuticals in a Thursday, March 31 report. They have placed a “holding” rating on the stock. One investment analyst gave the stock a sell rating, one gave the company a hold rating and four gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $176.20.

In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 908 shares in a trade that took place on Monday, February 28. The shares were sold at an average price of $102.62, for a total value of $93,178.96. The sale was disclosed in a filing with the SEC, which is available via this link. Company insiders own 10.60% of the company’s shares.

Several hedge funds and other institutional investors have recently bought and sold shares of LGND. Crossmark Global Holdings Inc. bought a new stock position in Ligand Pharmaceuticals in Q3 worth $203,000. New York State Teachers Retirement System increased its position in Ligand Pharmaceuticals by 21.8% during the third quarter. The New York State Teachers’ Retirement System now owns 27,650 shares of the biotech company worth $3,852,000 after buying an additional 4,950 shares last quarter. Fisher Asset Management LLC increased its position in Ligand Pharmaceuticals by 19.1% during the third quarter. Fisher Asset Management LLC now owns 7,434 shares of the biotech company worth $1,036,000 after buying 1,191 additional shares in the last quarter. Stephens Inc. AR increased its position in Ligand Pharmaceuticals by 4.9% during the third quarter. Stephens Inc. AR now owns 2,040 shares of the biotech company worth $284,000 after buying 95 more shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Ligand Pharmaceuticals by 26.8% during the third quarter. New Jersey State Joint Pension Fund D now owns 25,729 shares of the biotech company worth $3,585,000 after buying 5,438 more shares in the last quarter. 97.54% of the shares are currently held by hedge funds and other institutional investors.

Shares of LGND Stock opened at $105.26 on Wednesday. The company’s 50-day moving average price is $109.42 and its 200-day moving average price is $130.84. The company has a debt ratio of 0.39, a quick ratio of 10.50 and a current ratio of 11.15. Ligand Pharmaceuticals has a one-year low of $88.50 and a one-year high of $169.98. The company has a market capitalization of $1.77 billion, a P/E ratio of 31.52, a P/E/G ratio of 5.32 and a beta of 1.16.

About Ligand Pharmaceuticals (Get a rating)

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, is focused on developing or acquiring technologies that help pharmaceutical companies discover and develop drugs around the world. 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 diseases caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight pneumococcal pneumonia in children.

Further reading

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