Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Expected to Post Quarterly Sales of $23.16 Million

Analysts expect Ligand Pharmaceuticals Inc. (NASDAQ:LGND) to announce sales of $23.16 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Ligand Pharmaceuticals’ earnings. The highest sales estimate is $24.52 million and the lowest is $21.80 million. Ligand Pharmaceuticals posted sales of $45.66 million during the same quarter last year, which would indicate a negative year over year growth rate of 49.3%. The firm is scheduled to issue its next earnings results on Thursday, November 14th.

On average, analysts expect that Ligand Pharmaceuticals will report full year sales of $118.59 million for the current financial year, with estimates ranging from $117.70 million to $119.48 million. For the next year, analysts expect that the company will report sales of $125.84 million, with estimates ranging from $122.27 million to $129.40 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.30. Ligand Pharmaceuticals had a return on equity of 11.24% and a net margin of 389.58%. The business had revenue of $24.99 million during the quarter, compared to analysts’ expectations of $21.01 million. During the same quarter in the previous year, the firm posted $2.59 EPS. The company’s revenue for the quarter was down 72.2% on a year-over-year basis.



Several equities research analysts have commented on the company. Zacks Investment Research lowered Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 price objective on the stock. in a research report on Thursday, August 8th. Argus set a $140.00 target price on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Monday, June 10th. Barclays decreased their target price on shares of Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. ValuEngine downgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, BidaskClub lowered shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Ligand Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $147.80.

LGND stock traded up $1.61 during trading on Friday, hitting $91.80. 521,705 shares of the company traded hands, compared to its average volume of 498,553. Ligand Pharmaceuticals has a 1 year low of $84.45 and a 1 year high of $278.62. The company has a market cap of $1.75 billion, a PE ratio of 14.62, a P/E/G ratio of 1.89 and a beta of 1.30. The stock’s 50-day simple moving average is $94.62 and its 200 day simple moving average is $112.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 13.23 and a quick ratio of 13.15.

In related news, Director Sunil Patel purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $95.98 per share, with a total value of $95,980.00. Following the acquisition, the director now owns 26,359 shares in the company, valued at $2,529,936.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jason Aryeh acquired 750 shares of Ligand Pharmaceuticals stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $87.01 per share, with a total value of $65,257.50. Following the completion of the transaction, the director now directly owns 67,203 shares of the company’s stock, valued at approximately $5,847,333.03. The disclosure for this purchase can be found here. Insiders purchased a total of 8,600 shares of company stock valued at $828,747 in the last ninety days. 8.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Manchester Capital Management LLC purchased a new stake in shares of Ligand Pharmaceuticals during the first quarter worth about $26,000. Tower Research Capital LLC TRC boosted its position in Ligand Pharmaceuticals by 188.6% during the second quarter. Tower Research Capital LLC TRC now owns 228 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 149 shares during the last quarter. FTB Advisors Inc. purchased a new stake in Ligand Pharmaceuticals during the 2nd quarter valued at about $26,000. FinTrust Capital Advisors LLC grew its stake in Ligand Pharmaceuticals by 64.4% during the 1st quarter. FinTrust Capital Advisors LLC now owns 337 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 132 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in Ligand Pharmaceuticals during the 2nd quarter valued at about $46,000.

About Ligand Pharmaceuticals

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; Aziyo portfolio of 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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