Ligand Pharmaceuticals (NASDAQ:LGND) issued its earnings results on Sunday. The biotechnology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.13 by $0.28, MarketWatch Earnings reports. The company had revenue of $55.10 million during the quarter, compared to analysts’ expectations of $63.00 million. Ligand Pharmaceuticals had a negative net margin of 11.23% and a positive return on equity of 5.90%. The business’s revenue for the quarter was up 66.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 EPS.
Shares of LGND stock traded down $13.21 on Tuesday, hitting $132.02. The stock had a trading volume of 310,645 shares, compared to its average volume of 484,452. The business has a 50 day moving average of $152.30 and a 200 day moving average of $126.77. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -133.37, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 20.28 and a quick ratio of 19.96. Ligand Pharmaceuticals has a 12-month low of $78.26 and a 12-month high of $219.75.
A number of research firms recently issued reports on LGND. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and set a $162.00 price objective for the company in a research report on Tuesday, April 6th. Roth Capital upped their price target on shares of Ligand Pharmaceuticals from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. Craig Hallum upped their price target on shares of Ligand Pharmaceuticals from $195.00 to $215.00 in a research report on Thursday, February 4th. Barclays decreased their price target on shares of Ligand Pharmaceuticals from $198.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Stephens began coverage on shares of Ligand Pharmaceuticals in a research note on Wednesday, April 14th. They issued an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $205.33.
In other Ligand Pharmaceuticals news, COO Matthew W. Foehr sold 44,547 shares of the stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $176.86, for a total transaction of $7,878,582.42. Following the completion of the transaction, the chief operating officer now owns 167,198 shares in the company, valued at $29,570,638.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles S. Berkman sold 18,097 shares of the stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $178.50, for a total transaction of $3,230,314.50. Following the transaction, the senior vice president now owns 47,003 shares of the company’s stock, valued at approximately $8,390,035.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,727 shares of company stock valued at $12,192,288. 10.60% of the stock is currently owned by corporate insiders.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. The company's 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 the treatment of osteoporosis; Nexterone, a captisol-enabled formulation of amiodarone; Zulresso, a captisol-enabled formulation of brexanolone for the treatment of PPD; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Duavee 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; Bryxta and Zybev for various indications; and Minnebro for the treatment of hypertension.
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