Ligand Pharmaceuticals (NASDAQ:LGND) Updates FY 2025 Earnings Guidance

Key Points

• Ligand Pharmaceuticals has updated its FY 2025 earnings guidance, projecting an EPS of 6.700-7.000, exceeding the consensus estimate of 6.123, and revenue guidance of $200.0 million-$225.0 million compared to the consensus of $194.0 million.
• On Thursday, Ligand's stock rose by $3.92 to reach $146.32, with a market capitalization of $2.82 billion and a P/E ratio of -20.55.
• The stock has received a range of ratings from analysts, with Oppenheimer raising its price target to $162.00 and a consensus rating of "Moderate Buy".

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) issued an update on its FY 2025 earnings guidance on Thursday morning. The company provided EPS guidance of 6.700-7.000 for the period, compared to the consensus EPS estimate of 6.123. The company issued revenue guidance of $200.0 million-$225.0 million, compared to the consensus revenue estimate of $194.0 million.

Ligand Pharmaceuticals Price Performance

LGND stock traded up $3.92 during mid-day trading on Thursday, reaching $146.32. 300,219 shares of the company traded hands, compared to its average volume of 128,216. The company has a fifty day moving average price of $120.37 and a 200-day moving average price of $113.33. Ligand Pharmaceuticals has a 52-week low of $92.04 and a 52-week high of $149.21. The company has a market capitalization of $2.82 billion, a P/E ratio of -20.55 and a beta of 0.85.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.54 by $0.06. Ligand Pharmaceuticals had a negative net margin of 73.07% and a negative return on equity of 7.83%. The firm had revenue of $47.63 million during the quarter, compared to the consensus estimate of $43.87 million. During the same period last year, the firm earned $1.40 EPS. The business's quarterly revenue was up 14.7% compared to the same quarter last year. As a group, analysts forecast that Ligand Pharmaceuticals will post 1.73 EPS for the current year.

Analyst Upgrades and Downgrades

LGND has been the subject of a number of research analyst reports. Oppenheimer lifted their price target on Ligand Pharmaceuticals from $145.00 to $162.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Finally, Stifel Nicolaus started coverage on shares of Ligand Pharmaceuticals in a report on Thursday, April 10th. They issued a "buy" rating and a $143.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $150.00.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CEO Todd C. Davis acquired 9,510 shares of the stock in a transaction dated Friday, May 9th. The stock was purchased at an average cost of $105.20 per share, for a total transaction of $1,000,452.00. Following the acquisition, the chief executive officer owned 161,234 shares in the company, valued at $16,961,816.80. The trade was a 6.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Octavio Espinoza bought 1,500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average cost of $104.06 per share, for a total transaction of $156,090.00. Following the acquisition, the chief financial officer owned 27,932 shares in the company, valued at $2,906,603.92. The trade was a 5.67% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 3,401 shares of company stock worth $396,648. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of Ligand Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ligand Pharmaceuticals by 8.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,660 shares of the biotechnology company's stock worth $1,121,000 after purchasing an additional 809 shares during the last quarter. Royal Bank of Canada boosted 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 valued at $644,000 after buying an additional 1,256 shares during the period. AQR Capital Management LLC bought a new stake in Ligand Pharmaceuticals in the 1st quarter worth $344,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Ligand Pharmaceuticals by 9.8% in the first 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 period. Finally, Jane Street Group LLC raised its stake in shares of Ligand Pharmaceuticals by 176.2% during the first 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. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

About Ligand Pharmaceuticals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.