Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Free Report) – Equities research analysts at Zacks Research decreased their Q2 2023 EPS estimates for Ligand Pharmaceuticals in a research note issued on Tuesday, July 18th. Zacks Research analyst S. Ganoria now expects that the biotechnology company will post earnings per share of $0.28 for the quarter, down from their prior estimate of $0.29. The consensus estimate for Ligand Pharmaceuticals’ current full-year earnings is $3.74 per share. Zacks Research also issued estimates for Ligand Pharmaceuticals’ Q3 2023 earnings at $0.51 EPS, Q4 2023 earnings at $0.61 EPS, FY2023 earnings at $3.41 EPS, Q1 2024 earnings at $0.50 EPS, Q2 2024 earnings at $0.41 EPS, Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.68 EPS, FY2024 earnings at $2.17 EPS and FY2025 earnings at $2.58 EPS.
A number of other equities research analysts have also commented on the company. StockNews.com raised Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. TheStreet upgraded shares of Ligand Pharmaceuticals from a “c” rating to a “b” rating in a report on Thursday, May 4th. Finally, HC Wainwright raised their price target on shares of Ligand Pharmaceuticals from $135.00 to $144.00 in a research report on Friday, June 2nd. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ligand Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $112.25.
Ligand Pharmaceuticals Stock Down 0.1 %
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last posted its earnings results on Thursday, May 4th. The biotechnology company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $1.39. The company had revenue of $43.98 million for the quarter, compared to analyst estimates of $33.55 million. Ligand Pharmaceuticals had a net margin of 11.00% and a return on equity of 3.44%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS.
Insider Activity
In related news, Director Stephen L. Sabba sold 6,408 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $77.13, for a total value of $494,249.04. Following the completion of the transaction, the director now directly owns 25,784 shares in the company, valued at approximately $1,988,719.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John W. Kozarich sold 4,444 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $77.20, for a total transaction of $343,076.80. Following the completion of the transaction, the director now directly owns 38,488 shares in the company, valued at approximately $2,971,273.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen L. Sabba sold 6,408 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $77.13, for a total value of $494,249.04. Following the completion of the sale, the director now owns 25,784 shares in the company, valued at approximately $1,988,719.92. The disclosure for this sale can be found here. Insiders have sold a total of 17,260 shares of company stock valued at $1,327,922 over the last quarter. Company insiders own 10.40% of the company’s stock.
Institutional Trading of Ligand Pharmaceuticals
Several institutional investors and hedge funds have recently modified their holdings of LGND. FMR LLC lifted its position in Ligand Pharmaceuticals by 38.0% in the 1st quarter. FMR LLC now owns 566 shares of the biotechnology company’s stock worth $42,000 after buying an additional 156 shares during the last quarter. State of Wyoming bought a new position in Ligand Pharmaceuticals during the 4th quarter worth approximately $45,000. PNC Financial Services Group Inc. increased its stake in Ligand Pharmaceuticals by 13.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 165 shares during the period. UBS Group AG lifted its position in Ligand Pharmaceuticals by 361.1% in the fourth quarter. UBS Group AG now owns 1,660 shares of the biotechnology company’s stock valued at $111,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Ligand Pharmaceuticals during the first quarter valued at approximately $143,000. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Ligand Pharmaceuticals Company Profile
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 serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.
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