Ligand Pharmaceuticals (LGND) Issues Earnings Results, Beats Expectations By $0.28 EPS

Ligand Pharmaceuticals (NASDAQ:LGND) announced its quarterly earnings results on Thursday. The biotechnology company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.28, MarketWatch Earnings reports. Ligand Pharmaceuticals had a return on equity of 26.00% and a net margin of 57.00%. The company had revenue of $43.48 million during the quarter, compared to analyst estimates of $38.28 million. During the same quarter last year, the firm posted $1.55 earnings per share. The firm’s revenue was down 22.6% on a year-over-year basis.

LGND traded down $5.50 during trading on Friday, reaching $121.61. The stock had a trading volume of 1,037,269 shares, compared to its average volume of 638,310. The company has a current ratio of 10.58, a quick ratio of 10.50 and a debt-to-equity ratio of 1.09. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 19.36, a price-to-earnings-growth ratio of 1.94 and a beta of 1.33. Ligand Pharmaceuticals has a one year low of $98.56 and a one year high of $278.62.

A number of brokerages recently commented on LGND. ValuEngine lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “buy” rating to a “strong sell” rating in a report on Wednesday, March 27th. HC Wainwright reiterated a “buy” rating and issued a $214.00 price objective (down previously from $254.00) on shares of Ligand Pharmaceuticals in a report on Friday. Finally, BidaskClub upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $206.57.

In other news, CEO John L. Higgins acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average price of $114.29 per share, for a total transaction of $285,725.00. Following the completion of the acquisition, the chief executive officer now owns 141,399 shares in the company, valued at $16,160,491.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Ligand Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc. now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after purchasing an additional 66,789 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Ligand Pharmaceuticals by 55.1% during the fourth quarter. Fisher Asset Management LLC now owns 66,105 shares of the biotechnology company’s stock valued at $8,970,000 after acquiring an additional 23,486 shares in the last quarter. Woodstock Corp increased its holdings in shares of Ligand Pharmaceuticals by 4.6% during the fourth quarter. Woodstock Corp now owns 69,759 shares of the biotechnology company’s stock valued at $9,466,000 after acquiring an additional 3,051 shares in the last quarter. Tygh Capital Management Inc. increased its holdings in shares of Ligand Pharmaceuticals by 108.0% during the fourth quarter. Tygh Capital Management Inc. now owns 80,183 shares of the biotechnology company’s stock valued at $10,881,000 after acquiring an additional 41,626 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Ligand Pharmaceuticals during the fourth quarter valued at $1,336,000.

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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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Earnings History for Ligand Pharmaceuticals (NASDAQ:LGND)

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