Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 4.250-4.750 for the period, compared to the consensus earnings per share estimate of 4.440. The company issued revenue guidance of $130.0 million-$142.0 million, compared to the consensus revenue estimate of $137.7 million.
Ligand Pharmaceuticals Price Performance
Shares of Ligand Pharmaceuticals stock traded up $5.76 during trading hours on Thursday, hitting $86.12. The company had a trading volume of 493,661 shares, compared to its average volume of 162,059. The company’s 50-day moving average is $74.10 and its two-hundred day moving average is $69.13. The company has a market cap of $1.52 billion, a P/E ratio of 30.15 and a beta of 1.01. Ligand Pharmaceuticals has a twelve month low of $49.24 and a twelve month high of $94.57.
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last posted its earnings results on Tuesday, May 7th. The biotechnology company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $3.01. The business had revenue of $30.90 million during the quarter, compared to the consensus estimate of $27.92 million. Ligand Pharmaceuticals had a return on equity of 11.98% and a net margin of 37.80%. The business’s quarterly revenue was down 29.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 EPS. Sell-side analysts expect that Ligand Pharmaceuticals will post 3.41 EPS for the current year.
Analyst Upgrades and Downgrades
Read Our Latest Research Report on LGND
Insider Activity
In related news, Director Stephen L. Sabba sold 1,893 shares of the firm’s stock in a transaction dated 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 owns 28,926 shares in the company, valued at $2,149,201.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 10.40% of the company’s stock.
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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