Ligand Pharmaceuticals (LGND) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS
Ligand Pharmaceuticals (NASDAQ:LGND) posted its quarterly earnings results on Tuesday. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.16, American Banking News reports. The company had revenue of $14.70 million for the quarter, compared to the consensus estimate of $13.72 million. Ligand Pharmaceuticals’s revenue was up 8.1% compared to the same quarter last year. Ligand Pharmaceuticals updated its Q1 guidance to $0.22-0.25 EPS and its FY14 guidance to $1.40-1.45 EPS.
A number of research firms have recently commented on LGND. Analysts at MLV Capital raised their price target on shares of Ligand Pharmaceuticals from $62.00 to $82.00 in a research note on Monday. They now have a “buy” rating on the stock. On a related note, analysts at Summer Street raised their price target on shares of Ligand Pharmaceuticals from $69.00 to $78.00 in a research note on Monday, January 27th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Ligand Pharmaceuticals from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 23rd. They now have a $68.50 price target on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $63.64.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) opened at 62.70 on Tuesday. Ligand Pharmaceuticals has a 1-year low of $20.21 and a 1-year high of $65.82. The stock’s 50-day moving average is $58.73 and its 200-day moving average is $51.43. The company has a market cap of $1.280 billion and a price-to-earnings ratio of 115.80.
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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