Ligand Pharmaceuticals (NASDAQ:LGND) Releases FY 2022 Earnings Guidance

Ligand Pharmaceuticals (NASDAQ:LGNDGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $1.70-$2.20 for the period, compared to the consensus earnings per share estimate of $3.22. The company issued revenue guidance of $147.00 million-$172.00 million, compared to the consensus revenue estimate of $162.39 million.

Shares of LGND stock traded up $1.50 during trading on Thursday, hitting $80.18. The company had a trading volume of 5,355 shares, compared to its average volume of 164,169. The stock’s 50-day moving average is $103.62 and its two-hundred day moving average is $126.13. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 57.50, a price-to-earnings-growth ratio of 4.47 and a beta of 1.22. The company has a quick ratio of 10.50, a current ratio of 6.48 and a debt-to-equity ratio of 0.22. Ligand Pharmaceuticals has a 52 week low of $78.05 and a 52 week high of $169.98.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The biotechnology company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.10. The business had revenue of $45.70 million during the quarter, compared to analysts’ expectations of $34.21 million. Ligand Pharmaceuticals had a net margin of 9.00% and a return on equity of 8.29%. The business’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, research analysts predict that Ligand Pharmaceuticals will post 1.32 EPS for the current fiscal year.

LGND has been the subject of several analyst reports. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a strong sell rating to a hold rating and set a $108.00 price target for the company in a research report on Wednesday, April 20th. Barclays cut their price target on Ligand Pharmaceuticals from $185.00 to $165.00 and set an overweight rating on the stock in a research note on Friday, February 18th. Benchmark cut their price target on shares of Ligand Pharmaceuticals from $180.00 to $130.00 and set a buy rating on the stock in a report on Tuesday, February 22nd. StockNews.com lowered Ligand Pharmaceuticals from a hold rating to a sell rating in a report on Friday, May 6th. Finally, Craig Hallum lowered their target price on shares of Ligand Pharmaceuticals from $215.00 to $160.00 in a research note on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Buy and an average target price of $177.17.

In related news, Director John W. Kozarich sold 908 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $102.62, for a total value of $93,178.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC grew its position in shares of Ligand Pharmaceuticals by 9.6% during the 3rd quarter. LPL Financial LLC now owns 3,033 shares of the biotechnology company’s stock valued at $423,000 after acquiring an additional 266 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Ligand Pharmaceuticals by 45.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 87,876 shares of the biotechnology company’s stock worth $13,574,000 after purchasing an additional 27,519 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Ligand Pharmaceuticals by 48.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 3,116 shares of the biotechnology company’s stock worth $481,000 after acquiring an additional 1,010 shares in the last quarter. Legal & General Group Plc raised its holdings in Ligand Pharmaceuticals by 3.2% in the 4th quarter. Legal & General Group Plc now owns 46,997 shares of the biotechnology company’s stock valued at $7,259,000 after acquiring an additional 1,450 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Ligand Pharmaceuticals by 27.8% in the 4th quarter. Advisors Asset Management Inc. now owns 9,035 shares of the biotechnology company’s stock valued at $1,396,000 after acquiring an additional 1,965 shares in the last quarter. Institutional investors own 96.61% of the company’s stock.

About Ligand Pharmaceuticals (Get Rating)

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its 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 osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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