Ligand Pharmaceuticals Inc. to Post Q3 2016 Earnings of $0.06 Per Share, Roth Capital Forecasts (LGND)
Ligand Pharmaceuticals Inc. (NASDAQ:LGND) – Analysts at Roth Capital decreased their Q3 2016 earnings estimates for shares of Ligand Pharmaceuticals in a research note issued on Sunday. Roth Capital analyst J. Pantginis now forecasts that the firm will post earnings of $0.06 per share for the quarter, down from their previous forecast of $0.12. Roth Capital currently has a “Buy” rating and a $150.00 price target on the stock. Roth Capital also issued estimates for Ligand Pharmaceuticals’ Q4 2016 earnings at $0.69 EPS.
A number of other research firms have also weighed in on LGND. Deutsche Bank AG lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and increased their target price for the stock from $104.00 to $110.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Vetr upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 target price for the company in a report on Wednesday, August 10th. TheStreet lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. Finally, Craig Hallum increased their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 in a report on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $139.25.
Ligand Pharmaceuticals (NASDAQ:LGND) traded down 2.69% during trading on Tuesday, reaching $98.85. The company’s stock had a trading volume of 92,849 shares. The firm has a market cap of $2.06 billion, a PE ratio of 9.32 and a beta of 1.23. The company has a 50-day moving average of $107.75 and a 200 day moving average of $117.15. Ligand Pharmaceuticals has a one year low of $82.06 and a one year high of $139.79.
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Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The business earned $19.50 million during the quarter, compared to the consensus estimate of $18.12 million. Ligand Pharmaceuticals had a return on equity of 11.64% and a net margin of 263.14%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 EPS.
Several institutional investors have recently made changes to their positions in the stock. 1832 Asset Management L.P. acquired a new position in shares of Ligand Pharmaceuticals during the first quarter worth $80,340,000. Emerald Acquisition Ltd. purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at $44,004,000. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at $20,912,000. Atlantic Trust Group LLC purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at $20,024,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at $17,891,000.
In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 1,666 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $105.40, for a total transaction of $175,596.40. Following the completion of the transaction, the director now owns 40,783 shares of the company’s stock, valued at $4,298,528.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John L. Higgins sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $117.34, for a total transaction of $352,020.00. Following the transaction, the chief executive officer now directly owns 122,664 shares of the company’s stock, valued at approximately $14,393,393.76. The disclosure for this sale can be found here. Company insiders own 14.70% of the company’s stock.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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