Ligand Pharmaceuticals (LGND) to Release Quarterly Earnings on Tuesday

Ligand Pharmaceuticals (NASDAQ:LGND) will be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $1.13 per share for the quarter. Ligand Pharmaceuticals has set its FY 2024 guidance at 4.250-4.750 EPS and its FY24 guidance at $4.25 to $4.75 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Tuesday, February 27th. The biotechnology company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.55. The firm had revenue of $28.10 million during the quarter, compared to analysts’ expectations of $24.54 million. Ligand Pharmaceuticals had a return on equity of 11.98% and a net margin of 37.80%. 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 Stock Up 2.2 %

Shares of Ligand Pharmaceuticals stock opened at $73.90 on Monday. Ligand Pharmaceuticals has a 52 week low of $49.24 and a 52 week high of $94.57. The firm’s 50 day moving average is $74.53 and its two-hundred day moving average is $68.76. The firm has a market capitalization of $1.31 billion, a P/E ratio of 26.87 and a beta of 1.01.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $144.00 price target on shares of Ligand Pharmaceuticals in a research note on Thursday, February 29th. Benchmark reiterated a “buy” rating and set a $95.00 target price on shares of Ligand Pharmaceuticals in a research report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Ligand Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $116.33.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Stephen L. Sabba sold 1,893 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $74.30, for a total transaction of $140,649.90. Following the transaction, the director now directly owns 28,926 shares of the company’s stock, valued at approximately $2,149,201.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.40% of the stock is owned by insiders.

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.