Ligand Pharmaceuticals (LGND) Issues Quarterly Earnings Results, Beats Estimates By $0.48 EPS

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Ligand Pharmaceuticals (NASDAQ:LGND) posted its earnings results on Thursday. The biotechnology company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.48, Bloomberg Earnings reports. Ligand Pharmaceuticals had a return on equity of 25.57% and a net margin of 57.00%. The business had revenue of $59.59 million during the quarter, compared to analysts’ expectations of $52.58 million. During the same period in the previous year, the business earned $1.31 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. Ligand Pharmaceuticals updated its FY 2019 guidance to $6.05-6.05 EPS and its FY19 guidance to ~$6.05 EPS.

LGND opened at $114.48 on Friday. Ligand Pharmaceuticals has a 12-month low of $98.56 and a 12-month high of $278.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.20 and a quick ratio of 2.19. The stock has a market capitalization of $2.43 billion, a PE ratio of 18.23, a PEG ratio of 1.19 and a beta of 1.40.

Several equities analysts recently commented on the company. TheStreet cut Ligand Pharmaceuticals from a “b-” rating to a “c+” rating in a research report on Wednesday, January 2nd. HC Wainwright set a $280.00 target price on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 29th. Zacks Investment Research cut Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. BidaskClub cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $238.00.

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Hawaiian Bank boosted its holdings in shares of Ligand Pharmaceuticals by 22.7% in the 4th quarter. First Hawaiian Bank now owns 584 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 108 shares in the last quarter. Trillium Asset Management LLC boosted its holdings in shares of Ligand Pharmaceuticals by 4.1% in the 4th quarter. Trillium Asset Management LLC now owns 4,386 shares of the biotechnology company’s stock worth $595,000 after purchasing an additional 171 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Ligand Pharmaceuticals by 33.8% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 713 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 180 shares in the last quarter. Tocqueville Asset Management L.P. lifted its stake in shares of Ligand Pharmaceuticals by 4.4% in the 4th quarter. Tocqueville Asset Management L.P. now owns 4,571 shares of the biotechnology company’s stock valued at $620,000 after acquiring an additional 193 shares during the last quarter. Finally, LS Investment Advisors LLC lifted its stake in shares of Ligand Pharmaceuticals by 17.4% in the 4th quarter. LS Investment Advisors LLC now owns 1,606 shares of the biotechnology company’s stock valued at $218,000 after acquiring an additional 238 shares during the last quarter.

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Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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Earnings History for Ligand Pharmaceuticals (NASDAQ:LGND)

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