Ligand Pharmaceuticals (NASDAQ:LGND) Posts Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Ligand Pharmaceuticals (NASDAQ:LGND) reported quarterly earnings of $1.60 EPS, exceeding analyst estimates by $0.06, with a revenue of $47.63 million compared to the expected $43.87 million.
• Following the earnings announcement, Ligand's stock rose by 2.6%, reaching $150.06 per share amidst a trading volume of 195,533 shares.
• Insiders have sold shares recently, with key transactions reducing their ownership, while analysts have upgraded the stock's ratings and increased its target price, suggesting a generally positive outlook.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) posted its quarterly earnings data on Thursday. The biotechnology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.06, Briefing.com reports. The company had revenue of $47.63 million during the quarter, compared to the consensus estimate of $43.87 million. Ligand Pharmaceuticals had a negative net margin of 40.44% and a negative return on equity of 9.21%. The firm's revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 EPS. Ligand Pharmaceuticals updated its FY 2025 guidance to 6.700-7.000 EPS.

Ligand Pharmaceuticals Stock Up 2.6%

Shares of NASDAQ LGND traded up $3.74 during midday trading on Friday, hitting $150.06. The stock had a trading volume of 195,533 shares, compared to its average volume of 207,614. The business's 50 day moving average is $122.22 and its 200-day moving average is $113.78. The company has a market cap of $2.89 billion, a P/E ratio of -37.52 and a beta of 0.85. Ligand Pharmaceuticals has a 52 week low of $93.58 and a 52 week high of $151.55.

Insider Activity at Ligand Pharmaceuticals

In related news, insider Andrew Reardon sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $104.00, for a total transaction of $104,000.00. Following the transaction, the insider owned 32,903 shares in the company, valued at $3,421,912. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Kozarich sold 934 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $125.00, for a total transaction of $116,750.00. Following the completion of the transaction, the director owned 46,456 shares in the company, valued at $5,807,000. The trade was a 1.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,401 shares of company stock worth $396,648. Insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in Ligand Pharmaceuticals during the 1st quarter worth approximately $344,000. Royal Bank of Canada grew its position in Ligand Pharmaceuticals by 25.8% during the 1st quarter. Royal Bank of Canada now owns 6,120 shares of the biotechnology company's stock worth $644,000 after purchasing an additional 1,256 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ligand Pharmaceuticals by 8.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,660 shares of the biotechnology company's stock valued at $1,121,000 after acquiring an additional 809 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Ligand Pharmaceuticals by 176.2% in the 1st quarter. Jane Street Group LLC now owns 36,922 shares of the biotechnology company's stock valued at $3,882,000 after acquiring an additional 23,553 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ligand Pharmaceuticals by 9.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,327 shares of the biotechnology company's stock valued at $5,817,000 after acquiring an additional 4,926 shares during the last quarter. Institutional investors own 91.28% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LGND. Oppenheimer boosted their price target on shares of Ligand Pharmaceuticals from $145.00 to $162.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Wall Street Zen upgraded shares of Ligand Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Royal Bank Of Canada boosted their price target on shares of Ligand Pharmaceuticals from $155.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Ligand Pharmaceuticals has a consensus rating of "Buy" and a consensus target price of $157.00.

Ligand Pharmaceuticals Company Profile

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.

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