Ligand Pharmaceuticals (LGND) to Release Quarterly Earnings on Monday

Ligand Pharmaceuticals (NASDAQ:LGNDGet Rating) will be announcing its earnings results after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of $0.54 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Rating) last posted its earnings results on Wednesday, May 4th. The biotechnology company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The business had revenue of $45.70 million for the quarter, compared to the consensus estimate of $34.21 million. Ligand Pharmaceuticals had a return on equity of 8.29% and a net margin of 9.00%. The business’s revenue was down 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. On average, analysts expect Ligand Pharmaceuticals to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Ligand Pharmaceuticals Stock Performance

LGND stock opened at $97.13 on Friday. The business’s 50-day moving average price is $88.79 and its two-hundred day moving average price is $99.05. The company has a current ratio of 6.48, a quick ratio of 5.88 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.64 billion, a PE ratio of 70.38, a P/E/G ratio of 9.43 and a beta of 1.12. Ligand Pharmaceuticals has a 1-year low of $72.57 and a 1-year high of $169.98.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LGND shares. Craig Hallum reduced their target price on Ligand Pharmaceuticals from $215.00 to $160.00 in a report on Thursday, May 5th. BMO Capital Markets assumed coverage on Ligand Pharmaceuticals in a report on Thursday, June 16th. They issued an “outperform” rating on the stock. Barclays cut their price target on Ligand Pharmaceuticals from $165.00 to $157.00 and set an “overweight” rating on the stock in a report on Tuesday, July 5th. Stephens cut their price target on Ligand Pharmaceuticals to $130.00 and set a “na” rating on the stock in a report on Monday, May 16th. Finally, StockNews.com lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.40.

Insider Activity at Ligand Pharmaceuticals

In related news, COO Matthew W. Foehr bought 2,500 shares of the stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average price of $82.76 per share, with a total value of $206,900.00. Following the completion of the transaction, the chief operating officer now owns 173,354 shares in the company, valued at $14,346,777.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.40% of the stock is owned by company insiders.

Institutional Trading of Ligand Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its position in shares of Ligand Pharmaceuticals by 10.6% in the first quarter. Advisor Group Holdings Inc. now owns 1,341 shares of the biotechnology company’s stock valued at $151,000 after acquiring an additional 128 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Ligand Pharmaceuticals by 207.0% in the first quarter. Hsbc Holdings PLC now owns 4,034 shares of the biotechnology company’s stock valued at $461,000 after acquiring an additional 2,720 shares during the last quarter. First Trust Advisors LP increased its position in shares of Ligand Pharmaceuticals by 86.2% in the first quarter. First Trust Advisors LP now owns 7,949 shares of the biotechnology company’s stock valued at $894,000 after acquiring an additional 3,679 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Ligand Pharmaceuticals by 54.9% in the first quarter. MetLife Investment Management LLC now owns 8,617 shares of the biotechnology company’s stock valued at $969,000 after acquiring an additional 3,053 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Ligand Pharmaceuticals by 44.7% during the first quarter. Advisors Asset Management Inc. now owns 13,076 shares of the biotechnology company’s stock worth $1,471,000 after buying an additional 4,041 shares during the last quarter. Institutional investors and hedge funds own 96.61% of the company’s stock.

About Ligand Pharmaceuticals

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Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its 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 osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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Earnings History for Ligand Pharmaceuticals (NASDAQ:LGND)

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