Ligand Pharmaceuticals (NASDAQ:LGND) Releases Earnings Results, Beats Expectations By $0.28 EPS

Ligand Pharmaceuticals (NASDAQ:LGND) issued its quarterly earnings data on Sunday. The biotechnology company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.28, MarketWatch Earnings reports. Ligand Pharmaceuticals had a positive return on equity of 5.90% and a negative net margin of 11.23%. The business had revenue of $55.10 million during the quarter, compared to analysts’ expectations of $63.00 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was up 66.0% on a year-over-year basis.

NASDAQ LGND traded down $12.13 during trading hours on Tuesday, reaching $133.10. The company’s stock had a trading volume of 5,646 shares, compared to its average volume of 486,538. The company has a current ratio of 20.28, a quick ratio of 19.96 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $152.30 and a 200 day simple moving average of $126.77. Ligand Pharmaceuticals has a 52 week low of $78.26 and a 52 week high of $219.75. The stock has a market cap of $2.22 billion, a PE ratio of -135.18, a PEG ratio of 1.46 and a beta of 1.46.

In other Ligand Pharmaceuticals news, COO Matthew W. Foehr sold 44,547 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $176.86, for a total transaction of $7,878,582.42. Following the transaction, the chief operating officer now directly owns 167,198 shares in the company, valued at approximately $29,570,638.28. The transaction was disclosed in a 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 stock was sold at an average price of $213.14, for a total transaction of $1,083,390.62. Following the transaction, the director now owns 47,678 shares in the company, valued at $10,162,088.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,727 shares of company stock worth $12,192,288. Corporate insiders own 10.60% of the company’s stock.

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on Ligand Pharmaceuticals from $198.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday. HC Wainwright upped their price objective on Ligand Pharmaceuticals from $229.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Stephens initiated coverage on Ligand Pharmaceuticals in a research report on Wednesday, April 14th. They set an “overweight” rating on the stock. Craig Hallum upped their price target on Ligand Pharmaceuticals from $195.00 to $215.00 in a report on Thursday, February 4th. Finally, Roth Capital upped their price target on Ligand Pharmaceuticals from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ligand Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $205.33.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. The company's commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for the treatment of osteoporosis; Nexterone, a captisol-enabled formulation of amiodarone; Zulresso, a captisol-enabled formulation of brexanolone for the treatment of PPD; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Duavee 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; Bryxta and Zybev for various indications; and Minnebro for the treatment of hypertension.

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Earnings History for Ligand Pharmaceuticals (NASDAQ:LGND)

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