Zacks: Analysts Expect Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Will Announce Quarterly Sales of $25.98 Million

Wall Street brokerages forecast that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will announce sales of $25.98 million for the current quarter, according to Zacks. Two analysts have provided estimates for Ligand Pharmaceuticals’ earnings. The lowest sales estimate is $25.74 million and the highest is $26.22 million. Ligand Pharmaceuticals reported sales of $45.66 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 43.1%. The company is scheduled to report its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Ligand Pharmaceuticals will report full year sales of $117.70 million for the current financial year. For the next fiscal year, analysts anticipate that the company will report sales of $127.60 million, with estimates ranging from $125.79 million to $129.40 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.30. The business had revenue of $24.99 million during the quarter, compared to analysts’ expectations of $21.01 million. Ligand Pharmaceuticals had a return on equity of 19.21% and a net margin of 320.12%. The business’s revenue was down 72.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.59 earnings per share.

Several analysts recently commented on the company. Argus set a $140.00 price target on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, June 10th. HC Wainwright reiterated a “buy” rating and set a $214.00 price target (down from $254.00) on shares of Ligand Pharmaceuticals in a research report on Friday, May 3rd. BidaskClub cut Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Barclays assumed coverage on Ligand Pharmaceuticals in a research report on Tuesday, June 11th. They set an “equal weight” rating and a $131.00 price target for the company. Finally, ValuEngine cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $195.88.

In related news, CEO John L. Higgins bought 2,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average cost of $113.50 per share, for a total transaction of $283,750.00. Following the acquisition, the chief executive officer now directly owns 28,042 shares in the company, valued at $3,182,767. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jason Aryeh bought 250 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $112.51 per share, with a total value of $28,127.50. Following the completion of the acquisition, the director now owns 59,368 shares in the company, valued at $6,679,493.68. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 10,604 shares of company stock valued at $1,104,257. 8.40% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Manchester Capital Management LLC acquired a new position in shares of Ligand Pharmaceuticals in the 1st quarter valued at $26,000. FinTrust Capital Advisors LLC lifted its stake in shares of Ligand Pharmaceuticals by 64.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 337 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 132 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at $46,000. Financial Gravity Wealth Inc. acquired a new position in shares of Ligand Pharmaceuticals in the 1st quarter valued at $51,000. Finally, Exane Derivatives lifted its stake in shares of Ligand Pharmaceuticals by 174.8% in the 1st quarter. Exane Derivatives now owns 720 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 458 shares during the last quarter.

Shares of Ligand Pharmaceuticals stock traded up $3.84 on Thursday, reaching $95.35. The company’s stock had a trading volume of 677,676 shares, compared to its average volume of 520,119. The firm has a market capitalization of $1.88 billion, a P/E ratio of 15.18, a P/E/G ratio of 2.30 and a beta of 1.38. Ligand Pharmaceuticals has a 52-week low of $91.01 and a 52-week high of $278.62. The business has a 50-day simple moving average of $112.11. The company has a debt-to-equity ratio of 0.57, a current ratio of 8.39 and a quick ratio of 8.33.

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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