Ligand Pharmaceuticals (NASDAQ:LGND) Releases FY19 Earnings Guidance

Ligand Pharmaceuticals (NASDAQ:LGND) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of ~$3.20 for the period, compared to the Thomson Reuters consensus estimate of $3.23. The company issued revenue guidance of ~$118 million, compared to the consensus revenue estimate of $118.97 million.Ligand Pharmaceuticals also updated its FY 2019 guidance to $3.20-3.20 EPS.

LGND has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed 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, May 3rd. Argus set a $140.00 target price on shares of Ligand Pharmaceuticals and gave the company a buy rating in a report on Monday, June 10th. BidaskClub lowered shares of Ligand Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday. Barclays began coverage on shares of Ligand Pharmaceuticals in a report on Tuesday, June 11th. They issued an equal weight rating and a $131.00 target price on the stock. Finally, ValuEngine lowered shares of Ligand Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Ligand Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $195.88.

Shares of Ligand Pharmaceuticals stock traded down $0.29 during trading on Friday, reaching $95.06. 454,803 shares of the company’s stock were exchanged, compared to its average volume of 519,677. The company has a current ratio of 13.23, a quick ratio of 8.33 and a debt-to-equity ratio of 0.60. Ligand Pharmaceuticals has a 1-year low of $91.01 and a 1-year high of $278.62. The stock has a market cap of $1.87 billion, a P/E ratio of 15.14, a P/E/G ratio of 2.03 and a beta of 1.38. The company has a 50-day simple moving average of $112.11.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.30. Ligand Pharmaceuticals had a return on equity of 8.51% and a net margin of 389.58%. The firm had revenue of $24.99 million for the quarter, compared to the consensus estimate of $21.01 million. During the same quarter in the previous year, the business earned $2.59 earnings per share. The company’s quarterly revenue was down 72.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Ligand Pharmaceuticals will post 2.34 EPS for the current fiscal year.

In related news, Director Jason Aryeh purchased 250 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average cost of $112.51 per share, with a total value of $28,127.50. Following the transaction, the director now directly owns 59,368 shares in the company, valued at approximately $6,679,493.68. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John L. Higgins purchased 1,850 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was bought at an average cost of $95.45 per share, for a total transaction of $176,582.50. Following the completion of the transaction, the chief executive officer now owns 146,749 shares in the company, valued at $14,007,192.05. The disclosure for this purchase can be found here. Over the last three months, insiders bought 10,604 shares of company stock worth $1,104,257. Insiders own 8.40% of the company’s stock.

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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