Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Expected to Post Quarterly Sales of $65.35 Million

Analysts forecast that Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) will post sales of $65.35 million for the current quarter, Zacks reports. Two analysts have provided estimates for Ligand Pharmaceuticals’ earnings, with the highest sales estimate coming in at $67.40 million and the lowest estimate coming in at $63.30 million. Ligand Pharmaceuticals reported sales of $33.16 million in the same quarter last year, which would suggest a positive year over year growth rate of 97.1%. The firm is expected to report its next quarterly earnings report on Wednesday, May 5th.

According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year sales of $293.03 million for the current year, with estimates ranging from $291.16 million to $294.90 million. For the next financial year, analysts forecast that the firm will post sales of $272.34 million, with estimates ranging from $211.97 million to $332.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Wednesday, February 3rd. The biotechnology company reported $1.62 EPS for the quarter, topping the consensus estimate of $0.99 by $0.63. Ligand Pharmaceuticals had a negative net margin of 11.23% and a positive return on equity of 5.90%. The company had revenue of $69.90 million during the quarter, compared to analysts’ expectations of $53.94 million. During the same period last year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 158.9% on a year-over-year basis.

Several research firms recently commented on LGND. Craig Hallum raised their price target on shares of Ligand Pharmaceuticals from $195.00 to $215.00 in a report on Thursday, February 4th. HC Wainwright raised their price target on shares of Ligand Pharmaceuticals from $229.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Barclays raised their price target on shares of Ligand Pharmaceuticals from $145.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, February 4th. Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $177.00 price target for the company. in a report on Tuesday, February 9th. Finally, Roth Capital raised their price target on shares of Ligand Pharmaceuticals from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $209.17.

In other news, SVP Charles S. Berkman sold 18,097 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $178.50, for a total value of $3,230,314.50. Following the transaction, the senior vice president now owns 47,003 shares of the company’s stock, valued at $8,390,035.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Todd C. Davis sold 5,083 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, February 10th. The shares were sold at an average price of $213.14, for a total transaction of $1,083,390.62. Following the completion of the transaction, the director now directly owns 47,678 shares in the company, valued at approximately $10,162,088.92. The disclosure for this sale can be found here. Insiders sold 157,727 shares of company stock valued at $27,422,288 over the last quarter. Corporate insiders own 10.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter valued at $27,000. International Assets Investment Management LLC bought a new stake in Ligand Pharmaceuticals during the 4th quarter worth about $30,000. Penserra Capital Management LLC increased its stake in shares of Ligand Pharmaceuticals by 168.1% in the 4th quarter. Penserra Capital Management LLC now owns 370 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 232 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Ligand Pharmaceuticals by 111.5% in the 3rd quarter. Harbor Investment Advisory LLC now owns 461 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 243 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Ligand Pharmaceuticals by 93.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,115 shares of the biotechnology company’s stock valued at $106,000 after acquiring an additional 540 shares during the last quarter.

Shares of LGND traded up $1.24 during midday trading on Tuesday, hitting $141.18. The stock had a trading volume of 467,716 shares, compared to its average volume of 877,296. Ligand Pharmaceuticals has a fifty-two week low of $57.24 and a fifty-two week high of $219.75. The business has a 50-day simple moving average of $150.99 and a two-hundred day simple moving average of $109.79. The firm has a market cap of $2.27 billion, a P/E ratio of -141.35, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46. The company has a current ratio of 20.28, a quick ratio of 19.96 and a debt-to-equity ratio of 0.65.

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. The company's 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; and Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations.

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