Ligand Pharmaceuticals (LGND) Updates FY17 Earnings Guidance

Ligand Pharmaceuticals (NASDAQ:LGND) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.13-3.16 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.98. The company issued revenue guidance of ~$140 million, compared to the consensus revenue estimate of $135.72 million.

Several equities analysts have recently commented on the company. Zacks Investment Research lowered Ligand Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday. HC Wainwright restated an average rating and set a $169.00 price target on shares of Ligand Pharmaceuticals in a research note on Wednesday. Roth Capital set a $158.00 price target on Ligand Pharmaceuticals and gave the company a buy rating in a research note on Monday, November 13th. Finally, Craig Hallum reaffirmed a buy rating and set a $170.00 price objective (up previously from $160.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $150.67.

Shares of Ligand Pharmaceuticals (LGND) traded up $1.70 during mid-day trading on Wednesday, reaching $138.63. The company had a trading volume of 146,900 shares, compared to its average volume of 167,850. Ligand Pharmaceuticals has a 12 month low of $95.08 and a 12 month high of $149.31. The company has a market capitalization of $3,000.00, a P/E ratio of 200.91, a P/E/G ratio of 1.47 and a beta of 0.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.32. The business had revenue of $33.38 million during the quarter, compared to the consensus estimate of $31.04 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The company’s quarterly revenue was up 54.4% on a year-over-year basis. During the same quarter last year, the company earned $0.62 earnings per share. sell-side analysts predict that Ligand Pharmaceuticals will post 2.37 EPS for the current fiscal year.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 5,269 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $142.53, for a total value of $750,990.57. Following the completion of the sale, the chief executive officer now owns 143,542 shares of the company’s stock, valued at $20,459,041.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John W. Kozarich sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $141.71, for a total value of $708,550.00. Following the completion of the sale, the director now directly owns 35,649 shares of the company’s stock, valued at approximately $5,051,819.79. The disclosure for this sale can be found here. In the last three months, insiders sold 17,753 shares of company stock valued at $2,522,007. Corporate insiders own 8.30% of the company’s stock.

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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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