Ligand Pharmaceuticals (LGND) Scheduled to Post Earnings on Thursday

Ligand Pharmaceuticals (NASDAQ:LGND) is scheduled to release its earnings data before the market opens on Thursday, November 7th. Analysts expect Ligand Pharmaceuticals to post earnings of $0.75 per share for the quarter. Ligand Pharmaceuticals has set its FY24 guidance at $5.00-5.50 EPS and its FY 2024 guidance at 5.000-5.500 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.34. Ligand Pharmaceuticals had a return on equity of 7.91% and a net margin of 29.69%. The firm had revenue of $41.50 million for the quarter, compared to analysts’ expectations of $33.04 million. During the same period in the previous year, the firm posted $1.10 earnings per share. The business’s revenue was up 57.2% compared to the same quarter last year. On average, analysts expect Ligand Pharmaceuticals to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Ligand Pharmaceuticals Trading Down 5.0 %

Shares of Ligand Pharmaceuticals stock opened at $109.81 on Thursday. The firm has a market cap of $1.98 billion, a PE ratio of 21.24 and a beta of 1.00. The stock has a 50 day moving average of $104.14 and a 200 day moving average of $93.30. Ligand Pharmaceuticals has a 12 month low of $50.87 and a 12 month high of $115.53.

Analyst Ratings Changes

LGND has been the subject of a number of recent research reports. Benchmark raised their target price on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 12th. Craig Hallum boosted their target price on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Oppenheimer assumed coverage on shares of Ligand Pharmaceuticals in a report on Thursday, October 3rd. They issued an “outperform” rating and a $135.00 price target for the company. HC Wainwright boosted their price objective on Ligand Pharmaceuticals from $144.00 to $157.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Barclays upped their price objective on Ligand Pharmaceuticals from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $132.83.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CEO Todd C. Davis bought 2,500 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $97.39 per share, for a total transaction of $243,475.00. Following the completion of the transaction, the chief executive officer now directly owns 123,010 shares of the company’s stock, valued at approximately $11,979,943.90. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Matthew E. Korenberg sold 18,245 shares of Ligand Pharmaceuticals stock in a transaction on Friday, August 9th. The stock was sold at an average price of $98.50, for a total transaction of $1,797,132.50. Following the completion of the sale, the chief operating officer now directly owns 68,368 shares in the company, valued at approximately $6,734,248. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd C. Davis purchased 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $97.39 per share, for a total transaction of $243,475.00. Following the completion of the acquisition, the chief executive officer now owns 123,010 shares of the company’s stock, valued at approximately $11,979,943.90. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 51,613 shares of company stock worth $5,255,692. Insiders own 5.90% of the company’s stock.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.