Zacks: Brokerages Anticipate Ligand Pharmaceuticals Incorporated (LGND) Will Post Quarterly Sales of $31.22 Million
Equities analysts expect that Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) will announce $31.22 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Ligand Pharmaceuticals’ earnings, with the highest sales estimate coming in at $34.95 million and the lowest estimate coming in at $27.12 million. Ligand Pharmaceuticals posted sales of $21.62 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 44.4%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Ligand Pharmaceuticals will report full-year sales of $31.22 million for the current fiscal year, with estimates ranging from $133.64 million to $138.12 million. For the next fiscal year, analysts anticipate that the business will report sales of $178.10 million per share, with estimates ranging from $158.50 million to $192.14 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Ligand Pharmaceuticals.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Monday, August 7th. The biotechnology company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.42. The company had revenue of $28.00 million during the quarter, compared to the consensus estimate of $24.40 million. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. The firm’s revenue for the quarter was up 43.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share.
A number of equities research analysts have weighed in on LGND shares. HC Wainwright reaffirmed a “buy” rating and issued a $157.00 price objective on shares of Ligand Pharmaceuticals in a report on Thursday, October 5th. Zacks Investment Research raised Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Roth Capital reissued a “buy” rating and set a $158.00 price target (up previously from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Ligand Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $144.20.
In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 5,483 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $125.00, for a total value of $685,375.00. Following the completion of the transaction, the chief executive officer now directly owns 144,654 shares in the company, valued at approximately $18,081,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Charles S. Berkman sold 18,625 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were 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 owns 24,423 shares of the company’s stock, valued at $3,100,744.08. 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 90 days. Insiders own 14.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Round Table Services LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 3rd quarter valued at $205,000. Ashford Capital Management Inc. grew its stake in shares of Ligand Pharmaceuticals by 1.8% during the 2nd quarter. Ashford Capital Management Inc. now owns 132,257 shares of the biotechnology company’s stock valued at $16,056,000 after buying an additional 2,352 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $500,000. Ameritas Investment Partners Inc. grew its stake in shares of Ligand Pharmaceuticals by 9.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,799 shares of the biotechnology company’s stock valued at $218,000 after buying an additional 154 shares during the period. Finally, Castleark Management LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $9,552,000.
Ligand Pharmaceuticals (NASDAQ LGND) traded up 0.40% during midday trading on Friday, hitting $143.93. The stock had a trading volume of 132,753 shares. Ligand Pharmaceuticals has a 52-week low of $87.50 and a 52-week high of $144.86. The company’s 50 day moving average price is $137.91 and its 200-day moving average price is $122.00. The stock has a market cap of $3.03 billion, a PE ratio of 351.05 and a beta of 1.01.
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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