Wall Street analysts forecast that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will announce $0.65 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Ligand Pharmaceuticals’ earnings. Ligand Pharmaceuticals posted earnings per share of $1.32 during the same quarter last year, which would indicate a negative year-over-year growth rate of 50.8%. The company is expected to issue its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Ligand Pharmaceuticals will report full year earnings of $3.25 per share for the current fiscal year. For the next fiscal year, analysts expect that the firm will post earnings of $4.00 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.38 by $0.30. Ligand Pharmaceuticals had a net margin of 389.58% and a return on equity of 11.24%. The business had revenue of $24.99 million for the quarter, compared to analysts’ expectations of $21.01 million. During the same quarter in the previous year, the company earned $2.59 EPS. The business’s quarterly revenue was down 72.2% compared to the same quarter last year.

A number of analysts have issued reports on the company. Argus set a $140.00 price objective on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, June 10th. Barclays reduced their price target on shares of Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. BidaskClub lowered shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, August 30th. ValuEngine cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Zacks Investment Research lowered Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $147.80.

Shares of NASDAQ:LGND traded up $1.61 during mid-day trading on Friday, reaching $91.80. The stock had a trading volume of 521,705 shares, compared to its average volume of 498,553. The business’s 50 day moving average price is $94.62 and its 200 day moving average price is $112.31. Ligand Pharmaceuticals has a 1 year low of $84.45 and a 1 year high of $278.62. The company has a market cap of $1.75 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30. The company has a current ratio of 13.23, a quick ratio of 13.15 and a debt-to-equity ratio of 0.61.

In other news, CEO John L. Higgins bought 1,850 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average cost of $95.45 per share, with a total value of $176,582.50. Following the transaction, the chief executive officer now directly owns 146,749 shares in the company, valued at approximately $14,007,192.05. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason Aryeh bought 250 shares of the stock in a transaction on Monday, July 29th. The stock was purchased at an average price of $106.01 per share, with a total value of $26,502.50. Following the completion of the acquisition, the director now directly owns 61,953 shares in the company, valued at approximately $6,567,637.53. The disclosure for this purchase can be found here. In the last three months, insiders acquired 8,600 shares of company stock valued at $828,747. 8.40% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. AMI Asset Management Corp grew its holdings in Ligand Pharmaceuticals by 20.3% during the 2nd quarter. AMI Asset Management Corp now owns 121,491 shares of the biotechnology company’s stock worth $13,868,000 after acquiring an additional 20,483 shares in the last quarter. Atria Investments LLC purchased a new position in Ligand Pharmaceuticals during the second quarter valued at approximately $396,000. WCM Investment Management LLC increased its holdings in Ligand Pharmaceuticals by 104.3% during the second quarter. WCM Investment Management LLC now owns 5,831 shares of the biotechnology company’s stock valued at $666,000 after buying an additional 2,977 shares during the period. Stephens Inc. AR lifted its holdings in Ligand Pharmaceuticals by 1,750.6% during the first quarter. Stephens Inc. AR now owns 50,189 shares of the biotechnology company’s stock worth $6,309,000 after buying an additional 47,477 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Ligand Pharmaceuticals by 78.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 16,680 shares of the biotechnology company’s stock worth $1,902,000 after buying an additional 7,340 shares during the period.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; Aziyo portfolio of commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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