$29.36 Million in Sales Expected for Ligand Pharmaceuticals Incorporated (LGND) This Quarter
Wall Street analysts expect Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) to report $29.36 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Ligand Pharmaceuticals’ earnings. The lowest sales estimate is $27.12 million and the highest is $31.60 million. Ligand Pharmaceuticals reported sales of $21.62 million during the same quarter last year, which indicates a positive year-over-year growth rate of 35.8%. The firm is expected to issue its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year sales of $29.36 million for the current year, with estimates ranging from $133.64 million to $137.12 million. For the next financial year, analysts anticipate that the company will report sales of $177.93 million per share, with estimates ranging from $158.50 million to $188.16 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.42. The business had revenue of $28 million for the quarter, compared to analyst estimates of $24.40 million. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. The company’s revenue was up 43.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share.
A number of equities analysts recently issued reports on the company. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub lowered Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. TheStreet raised Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, August 7th. Roth Capital increased their price objective on Ligand Pharmaceuticals from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Finally, Stephens reissued an “overweight” rating and issued a $137.00 price objective (up from $125.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $133.71.
In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 2,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $127.99, for a total transaction of $255,980.00. Following the completion of the transaction, the director now directly owns 59,625 shares of the company’s stock, valued at approximately $7,631,403.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John L. Higgins sold 12,000 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $114.87, for a total value of $1,378,440.00. Following the transaction, the chief executive officer now directly owns 151,171 shares of the company’s stock, valued at $17,365,012.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,874 shares of company stock valued at $6,022,156. 14.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its position in shares of Ligand Pharmaceuticals by 1.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,910 shares of the biotechnology company’s stock worth $1,261,000 after buying an additional 120 shares during the last quarter. Trillium Asset Management LLC raised its position in shares of Ligand Pharmaceuticals by 9.7% in the first quarter. Trillium Asset Management LLC now owns 4,309 shares of the biotechnology company’s stock worth $456,000 after buying an additional 380 shares during the last quarter. Tyers Asset Management LLC raised its position in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock worth $110,000 after buying an additional 196 shares during the last quarter. Willingdon Wealth Management raised its position in shares of Ligand Pharmaceuticals by 4.8% in the first quarter. Willingdon Wealth Management now owns 14,011 shares of the biotechnology company’s stock worth $1,483,000 after buying an additional 637 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Ligand Pharmaceuticals by 6.1% in the first quarter. Great West Life Assurance Co. Can now owns 26,716 shares of the biotechnology company’s stock worth $2,827,000 after buying an additional 1,547 shares during the last quarter.
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Shares of Ligand Pharmaceuticals (LGND) traded down 2.20% during midday trading on Friday, reaching $124.05. The company had a trading volume of 192,653 shares. Ligand Pharmaceuticals has a 52-week low of $87.50 and a 52-week high of $129.94. The stock has a market capitalization of $2.61 billion, a PE ratio of 302.56 and a beta of 0.96. The company’s 50 day moving average price is $122.91 and its 200 day moving average price is $113.41.
Ligand Pharmaceuticals Company Profile
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 is involved in the development and licensing of biopharmaceutical assets. 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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