Equities analysts expect that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will report earnings of $1.06 per share for the current quarter, according to Zacks. Three analysts have made estimates for Ligand Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at $1.04 and the highest estimate coming in at $1.07. Ligand Pharmaceuticals posted earnings of $0.74 per share during the same quarter last year, which would suggest a positive year over year growth rate of 43.2%. The business is scheduled to report its next earnings results on Thursday, February 22nd.

On average, analysts expect that Ligand Pharmaceuticals will report full year earnings of $2.98 per share for the current year, with EPS estimates ranging from $2.95 to $3.00. For the next fiscal year, analysts anticipate that the firm will report earnings of $3.47 per share, with EPS estimates ranging from $3.25 to $3.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.32. The business had revenue of $33.38 million for the quarter, compared to analysts’ expectations of $31.04 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The business’s quarterly revenue was up 54.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS.

A number of brokerages have commented on LGND. HC Wainwright set a $169.00 price target on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, January 12th. Craig Hallum reaffirmed a “buy” rating and issued a $170.00 price target (up from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. Roth Capital reiterated a “buy” rating and issued a $158.00 price objective (up from $135.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, October 11th. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 price objective on the stock in a research report on Thursday, October 12th. Finally, BidaskClub upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $150.67.

In other news, Director Stephen L. Sabba sold 925 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $137.25, for a total value of $126,956.25. Following the sale, the director now directly owns 26,985 shares in the company, valued at approximately $3,703,691.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Matthew E. Korenberg sold 6,559 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $142.63, for a total value of $935,510.17. Following the completion of the sale, the vice president now owns 8,147 shares in the company, valued at $1,162,006.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,253 shares of company stock worth $2,884,507. Corporate insiders own 8.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LGND. Schwab Charles Investment Management Inc. boosted its position in shares of Ligand Pharmaceuticals by 7.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 110,721 shares of the biotechnology company’s stock valued at $13,442,000 after purchasing an additional 7,762 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at approximately $524,000. Swiss National Bank boosted its position in shares of Ligand Pharmaceuticals by 7.1% during the second quarter. Swiss National Bank now owns 34,900 shares of the biotechnology company’s stock valued at $4,237,000 after purchasing an additional 2,300 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Ligand Pharmaceuticals by 19.9% during the second quarter. Alliancebernstein L.P. now owns 46,059 shares of the biotechnology company’s stock valued at $5,592,000 after purchasing an additional 7,660 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its position in shares of Ligand Pharmaceuticals by 99.8% during the second quarter. Riverhead Capital Management LLC now owns 1,798 shares of the biotechnology company’s stock valued at $218,000 after purchasing an additional 898 shares in the last quarter.

Shares of Ligand Pharmaceuticals (NASDAQ LGND) traded down $2.51 during trading on Wednesday, reaching $146.39. The company’s stock had a trading volume of 188,300 shares, compared to its average volume of 211,710. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3,142.61, a PE ratio of 212.16, a P/E/G ratio of 1.59 and a beta of 0.91. Ligand Pharmaceuticals has a 1-year low of $95.08 and a 1-year high of $151.67.

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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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