Ligand Pharmaceuticals (LGND) to Release Quarterly Earnings on Tuesday

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) is scheduled to post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect Ligand Pharmaceuticals to post earnings of $1.13 per share for the quarter. Ligand Pharmaceuticals has set its FY 2024 guidance at 4.250-4.750 EPS and its FY24 guidance at $4.25 to $4.75 EPS.Parties that are interested in registering for the company's conference call can do so using this link.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.55. Ligand Pharmaceuticals had a net margin of 37.80% and a return on equity of 11.98%. The business had revenue of $28.10 million during the quarter, compared to the consensus estimate of $24.54 million. On average, analysts expect Ligand Pharmaceuticals to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Ligand Pharmaceuticals Price Performance

Shares of NASDAQ:LGND traded down $0.57 during trading on Tuesday, reaching $69.89. 122,052 shares of the company's stock traded hands, compared to its average volume of 158,107. Ligand Pharmaceuticals has a 12 month low of $49.24 and a 12 month high of $94.57. The company has a 50 day moving average of $74.67 and a 200-day moving average of $68.29. The stock has a market capitalization of $1.24 billion, a P/E ratio of 25.68 and a beta of 1.01.

Insider Transactions at Ligand Pharmaceuticals

In other news, Director Stephen L. Sabba sold 1,893 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $74.30, for a total value of $140,649.90. Following the completion of the sale, the director now directly owns 28,926 shares of the company's stock, valued at approximately $2,149,201.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 10.40% of the company's stock.

Analysts Set New Price Targets

LGND has been the subject of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and set a $144.00 price objective on shares of Ligand Pharmaceuticals in a research report on Thursday, February 29th. Benchmark restated a "buy" rating and issued a $95.00 target price on shares of Ligand Pharmaceuticals in a research report on Friday, April 12th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $116.33.

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.