Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of approx $2.93 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.95. The company issued revenue guidance of atleast $134 million, compared to the consensus revenue estimate of $134.23 million.

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ LGND) traded up 1.06% during trading on Wednesday, hitting $138.63. 149,092 shares of the stock traded hands. The firm has a 50 day moving average price of $132.07 and a 200-day moving average price of $118.77. The company has a market cap of $2.92 billion, a PE ratio of 338.12 and a beta of 1.01. Ligand Pharmaceuticals Incorporated has a one year low of $87.50 and a one year high of $139.00.

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, beating analysts’ consensus estimates of $0.25 by $0.42. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The firm had revenue of $28.00 million during the quarter, compared to the consensus estimate of $24.40 million. During the same period in the prior year, the firm earned $0.50 EPS. The business’s revenue was up 43.6% on a year-over-year basis. Analysts anticipate that Ligand Pharmaceuticals Incorporated will post $2.95 earnings per share for the current fiscal year.

LGND has been the topic of a number of recent research reports. Deutsche Bank AG reissued a hold rating and set a $103.00 target price (up from $100.00) on shares of Ligand Pharmaceuticals in a research report on Monday, July 17th. BidaskClub lowered Ligand Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, August 1st. TheStreet raised Ligand Pharmaceuticals from a c rating to a b- rating in a report on Monday, August 7th. ValuEngine raised Ligand Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded Ligand Pharmaceuticals from a strong sell rating to a hold rating in a research report on Tuesday, July 11th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Ligand Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $133.50.

In other news, VP Charles S. Berkman sold 18,625 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $126.96, for a total value of $2,364,630.00. Following the completion of the transaction, the vice president now directly owns 24,423 shares of the company’s stock, valued at approximately $3,100,744.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John L. Higgins sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total value of $650,000.00. Following the transaction, the chief executive officer now owns 144,171 shares of the company’s stock, valued at approximately $18,742,230. The disclosure for this sale can be found here. Insiders have sold a total of 37,208 shares of company stock valued at $4,733,796 over the last ninety days. 14.70% of the stock is owned by insiders.

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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 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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