Ligand Pharmaceuticals Incorporated (LGND) Issues FY17 Earnings Guidance

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.95-3.00 for the period, compared to the Thomson Reuters consensus EPS 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 hours on Tuesday, reaching $142.80. The company’s stock had a trading volume of 291,300 shares, compared to its average volume of 247,139. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals Incorporated has a twelve month low of $95.08 and a twelve month high of $149.31. The stock has a market capitalization 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 released its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.32. The business had revenue of $33.38 million during the quarter, compared to the consensus estimate of $31.04 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The business’s revenue for the quarter was up 54.4% on a year-over-year basis. During the same period last year, the business posted $0.62 earnings per share. analysts forecast that Ligand Pharmaceuticals Incorporated will post 2.35 EPS for the current year.

LGND has been the subject of several recent research reports. Deutsche Bank AG reiterated a hold rating and issued a $103.00 price target (up from $100.00) on shares of Ligand Pharmaceuticals in a research report on Monday, July 17th. Roth Capital reiterated a buy rating and issued a $158.00 price target (up from $135.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, October 11th. HC Wainwright set a $157.00 price target on Ligand Pharmaceuticals and gave the company a buy rating in a research report on Wednesday, October 18th. BidaskClub cut Ligand Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, August 1st. Finally, TheStreet upgraded Ligand Pharmaceuticals from a c rating to a b- rating in a research report on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $144.20.

In related news, Director Jason Aryeh sold 2,000 shares of Ligand Pharmaceuticals stock in a transaction 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 sale, the director now owns 59,625 shares of the company’s stock, valued at $7,631,403.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John L. Higgins sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total value of $650,000.00. Following the sale, the chief executive officer now directly owns 144,171 shares of the company’s stock, valued at approximately $18,742,230. The disclosure for this sale can be found here. 14.70% of the stock is currently owned by company insiders.

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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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