Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.95-3.00 for the period, compared to the Thomson Reuters consensus estimate of $2.99. The company issued revenue guidance of $134-136 million, compared to the consensus revenue estimate of $136.89 million.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) traded up $2.90 during trading on Tuesday, hitting $142.80. The company had a trading volume of 291,300 shares, compared to its average volume of 247,139. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95. Ligand Pharmaceuticals Incorporated has a 52 week low of $95.08 and a 52 week high of $149.31. The stock has a market cap of $2,970.00, a P/E ratio of 105.19, a P/E/G ratio of 2.16 and a beta of 0.93.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The business had revenue of $33.38 million for the quarter, compared to the consensus estimate of $31.04 million. During the same period last year, the business posted $0.62 EPS. The company’s revenue was up 54.4% compared to the same quarter last year. research analysts predict that Ligand Pharmaceuticals Incorporated will post 2.35 earnings per share for the current fiscal year.
LGND has been the topic of a number of recent research reports. Zacks Investment Research cut Ligand Pharmaceuticals from a strong-buy rating to a hold rating in a report on Tuesday, October 10th. HC Wainwright reissued a buy rating and set a $157.00 price target on shares of Ligand Pharmaceuticals in a report on Thursday, October 5th. ValuEngine raised Ligand Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, August 10th. Roth Capital reissued a buy rating and set a $158.00 price target (up from $135.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 11th. Finally, TheStreet raised Ligand Pharmaceuticals from a c rating to a b- rating in a report on Monday, August 7th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Ligand Pharmaceuticals has an average rating of Buy and an average price target of $144.20.
In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $127.99, for a total transaction of $255,980.00. Following the completion of the transaction, the director now owns 59,625 shares in the company, valued at $7,631,403.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John L. Higgins sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $130.00, for a total value of $650,000.00. Following the transaction, the chief executive officer now owns 144,171 shares of the company’s stock, valued at approximately $18,742,230. The disclosure for this sale can be found here. Company insiders own 14.70% of the company’s stock.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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