Brokerages Expect Ligand Pharmaceuticals Inc. (NASDAQ:LGND) to Post $0.65 EPS

Equities research analysts expect that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will post earnings per share (EPS) of $0.65 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Ligand Pharmaceuticals’ earnings. Ligand Pharmaceuticals reported earnings of $1.32 per share in the same quarter last year, which would suggest a negative year over year growth rate of 50.8%. The business is scheduled to announce its next earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year earnings of $3.25 per share for the current year. For the next financial year, analysts expect that the firm will report earnings of $4.00 per share. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Ligand Pharmaceuticals.

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

A number of equities research analysts have issued reports on LGND shares. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 price target for the company. in a research note on Thursday, August 8th. ValuEngine downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. BidaskClub downgraded Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, August 2nd. Barclays cut their price target on 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. Finally, HC Wainwright reiterated a “buy” rating and set a $214.00 price objective (down from $254.00) on shares of Ligand Pharmaceuticals in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $165.83.

In other Ligand Pharmaceuticals news, CEO John L. Higgins purchased 1,850 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average cost of $95.45 per share, with a total value of $176,582.50. Following the acquisition, the chief executive officer now owns 146,749 shares in the company, valued at $14,007,192.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sunil Patel purchased 1,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $95.98 per share, for a total transaction of $95,980.00. Following the completion of the acquisition, the director now owns 26,359 shares in the company, valued at approximately $2,529,936.82. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 9,600 shares of company stock valued at $955,507. 8.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Mercantile Trust Co. increased its position in shares of Ligand Pharmaceuticals by 12.6% during the 1st quarter. First Mercantile Trust Co. now owns 805 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 90 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Ligand Pharmaceuticals by 1.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,503 shares of the biotechnology company’s stock worth $1,069,000 after purchasing an additional 92 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Ligand Pharmaceuticals by 13.9% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 812 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 99 shares in the last quarter. FinTrust Capital Advisors LLC grew its holdings in shares of 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, Tower Research Capital LLC TRC grew its holdings in shares of Ligand Pharmaceuticals by 188.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 228 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter.

NASDAQ LGND traded down $0.05 during trading hours on Wednesday, hitting $94.00. The company’s stock had a trading volume of 387,163 shares, compared to its average volume of 516,899. Ligand Pharmaceuticals has a 12 month low of $88.23 and a 12 month high of $278.62. The stock has a 50 day moving average price of $107.41. The company has a market capitalization of $1.81 billion, a P/E ratio of 14.97, a P/E/G ratio of 2.06 and a beta of 1.30. The company has a debt-to-equity ratio of 0.60, a quick ratio of 13.15 and a current ratio of 13.23.

Ligand Pharmaceuticals Company Profile

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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