Ligand Pharmaceuticals (LGND) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Ligand Pharmaceuticals (NASDAQ:LGND) announced its earnings results on Wednesday. The company reported $0.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.07 by $0.05, American Banking and Market News reports. The company had revenue of $13.00 million for the quarter, compared to the consensus estimate of $10.81 million. The company’s quarterly revenue was up 104.0% on a year-over-year basis. Ligand Pharmaceuticals updated its Q4 guidance to $0.15-0.17 EPS.
Several analysts have recently commented on the stock. Analysts at Cantor Fitzgerald reiterated a “sell” rating on shares of Ligand Pharmaceuticals in a research note to investors on Wednesday, September 11th. They now have a $37.00 price target on the stock. On a related note, analysts at MLV Capital raised their price target on shares of Ligand Pharmaceuticals to $62.00 in a research note to investors on Wednesday, September 11th. They now have a “buy” rating on the stock. Finally, analysts at Summer Street raised their price target on shares of Ligand Pharmaceuticals from $36.00 to $64.00 in a research note to investors on Friday, August 2nd. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Ligand Pharmaceuticals has an average rating of “Buy” and a consensus price target of $55.50.
In other Ligand Pharmaceuticals news, CEO John L. Higgins unloaded 10,000 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) opened at 57.334 on Wednesday. Ligand Pharmaceuticals has a 52 week low of $14.75 and a 52 week high of $50.85. The stock’s 50-day moving average is $45.76 and its 200-day moving average is $34.10. The company has a market cap of $1.172 billion and a P/E ratio of 137.65.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) is a biotechnology company that operates with a business model focused on developing or acquiring assets.
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