Ligand Pharmaceuticals (LGND) Expected to Post Quarterly Sales of $38.96 Million

Wall Street brokerages expect Ligand Pharmaceuticals (NASDAQ:LGND) to post $38.96 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Ligand Pharmaceuticals’ earnings, with the highest sales estimate coming in at $39.20 million and the lowest estimate coming in at $38.71 million. Ligand Pharmaceuticals reported sales of $28.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 39.1%. The firm is expected to issue its next quarterly earnings report on Monday, August 6th.

On average, analysts expect that Ligand Pharmaceuticals will report full-year sales of $194.30 million for the current fiscal year, with estimates ranging from $187.70 million to $204.17 million. For the next fiscal year, analysts anticipate that the firm will post sales of $222.07 million per share, with estimates ranging from $197.30 million to $246.22 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Tuesday, May 8th. The biotechnology company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.26. The business had revenue of $56.16 million during the quarter, compared to the consensus estimate of $43.02 million. Ligand Pharmaceuticals had a return on equity of 19.10% and a net margin of 31.40%. The firm’s quarterly revenue was up 91.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS.

Several research firms recently issued reports on LGND. TheStreet upgraded Ligand Pharmaceuticals from a “c+” rating to an “a-” rating in a research note on Wednesday, May 9th. BidaskClub upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 8th. HC Wainwright boosted their price target on Ligand Pharmaceuticals from $170.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, March 7th. Craig Hallum restated a “buy” rating and issued a $200.00 price target (up from $190.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, March 7th. Finally, ValuEngine upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Ligand Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $161.00.

In other news, Director Todd C. Davis sold 17,170 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $152.37, for a total transaction of $2,616,192.90. Following the completion of the sale, the director now directly owns 65,898 shares in the company, valued at approximately $10,040,878.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John L. Higgins sold 12,405 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $179.97, for a total value of $2,232,527.85. Following the sale, the chief executive officer now owns 119,824 shares of the company’s stock, valued at $21,564,725.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,274 shares of company stock valued at $10,067,966. Corporate insiders own 8.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in LGND. Assetmark Inc. lifted its position in shares of Ligand Pharmaceuticals by 336.4% during the 4th quarter. Assetmark Inc. now owns 1,056 shares of the biotechnology company’s stock worth $145,000 after buying an additional 814 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ligand Pharmaceuticals by 48.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock worth $151,000 after buying an additional 359 shares during the last quarter. We Are One Seven LLC bought a new stake in shares of Ligand Pharmaceuticals during the 4th quarter worth $179,000. Meadow Creek Investment Management LLC lifted its position in shares of Ligand Pharmaceuticals by 27.9% during the 4th quarter. Meadow Creek Investment Management LLC now owns 1,760 shares of the biotechnology company’s stock worth $241,000 after buying an additional 384 shares during the last quarter. Finally, Capital One National Association bought a new stake in shares of Ligand Pharmaceuticals during the 4th quarter worth $252,000.

LGND opened at $191.14 on Friday. The firm has a market capitalization of $3.95 billion, a P/E ratio of 74.37, a PEG ratio of 1.71 and a beta of 0.92. Ligand Pharmaceuticals has a 1 year low of $183.46 and a 1 year high of $188.97. The company has a quick ratio of 1.37, a current ratio of 1.41 and a debt-to-equity ratio of 0.03.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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