Brokerages expect that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will report $49.64 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Ligand Pharmaceuticals’ earnings, with the highest sales estimate coming in at $50.43 million and the lowest estimate coming in at $48.84 million. Ligand Pharmaceuticals reported sales of $50.46 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.6%. The business is scheduled to announce its next earnings results on Wednesday, February 20th.

According to Zacks, analysts expect that Ligand Pharmaceuticals will report full year sales of $241.50 million for the current fiscal year, with estimates ranging from $240.70 million to $242.29 million. For the next financial year, analysts expect that the firm will report sales of $212.80 million, with estimates ranging from $210.80 million to $214.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, November 8th. The biotechnology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.03 by $0.29. Ligand Pharmaceuticals had a return on equity of 26.17% and a net margin of 73.78%. The business had revenue of $45.66 million for the quarter, compared to the consensus estimate of $41.99 million. During the same period in the previous year, the business earned $0.69 EPS. Ligand Pharmaceuticals’s revenue was up 36.8% compared to the same quarter last year.

LGND has been the subject of a number of recent research reports. HC Wainwright increased their price objective on shares of Ligand Pharmaceuticals from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, October 2nd. Roth Capital raised shares of Ligand Pharmaceuticals from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $250.00 to $195.00 in a report on Monday, October 29th. BidaskClub cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Argus set a $300.00 target price on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Finally, Goldman Sachs Group started coverage on shares of Ligand Pharmaceuticals in a report on Friday, August 17th. They set a “neutral” rating and a $256.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $244.43.

LGND opened at $153.58 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.20 and a quick ratio of 2.19. Ligand Pharmaceuticals has a 12 month low of $128.31 and a 12 month high of $278.62. The firm has a market capitalization of $3.25 billion, a P/E ratio of 59.76, a PEG ratio of 1.29 and a beta of 1.49.

In related news, SVP Charles S. Berkman sold 2,813 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $250.69, for a total value of $705,190.97. Following the sale, the senior vice president now owns 30,576 shares in the company, valued at $7,665,097.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew W. Foehr sold 12,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $273.88, for a total transaction of $3,286,560.00. Following the transaction, the chief operating officer now owns 105,388 shares in the company, valued at approximately $28,863,665.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,813 shares of company stock valued at $5,314,326. 7.80% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. First Hawaiian Bank purchased a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at approximately $131,000. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Ligand Pharmaceuticals during the 3rd quarter valued at approximately $137,000. Signaturefd LLC purchased a new position in Ligand Pharmaceuticals in the 3rd quarter valued at $206,000. Advisor Partners LLC purchased a new position in Ligand Pharmaceuticals in the 3rd quarter valued at $207,000. Finally, Dynasty Wealth Management LLC purchased a new position in shares of Ligand Pharmaceuticals during the 3rd quarter worth $209,000.

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; 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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