Ligand Pharmaceuticals (NASDAQ:LGND) Issues Earnings Results, Misses Expectations By $3.01 EPS

Ligand Pharmaceuticals (NASDAQ:LGND) posted its earnings results on Thursday. The biotechnology company reported ($1.64) earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($3.01), Zacks reports. Ligand Pharmaceuticals had a return on equity of 4.95% and a net margin of 29.68%. Ligand Pharmaceuticals updated its FY 2025 guidance to 6.000-6.250 EPS.

Ligand Pharmaceuticals Stock Up 2.7 %

Shares of LGND traded up $3.05 during mid-day trading on Thursday, hitting $118.06. 106,278 shares of the company’s stock traded hands, compared to its average volume of 89,669. The firm has a market capitalization of $2.23 billion, a P/E ratio of 47.05 and a beta of 1.04. The business’s 50-day moving average price is $113.99 and its 200-day moving average price is $110.97. Ligand Pharmaceuticals has a 1 year low of $67.72 and a 1 year high of $129.90.

Insider Activity at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $116.37, for a total value of $244,842.48. Following the completion of the transaction, the chief financial officer now directly owns 20,647 shares of the company’s stock, valued at $2,402,691.39. This represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LGND has been the topic of several research analyst reports. Barclays upped their price objective on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Benchmark restated a “buy” rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Oppenheimer upped their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada raised their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $147.00.

Ligand Pharmaceuticals Company Profile

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.