Wall Street analysts expect Ligand Pharmaceuticals Inc. (NASDAQ:LGND) to post earnings of $0.65 per share for the current quarter, Zacks Investment Research reports. 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 indicates a negative year over year growth rate of 50.8%. The firm is scheduled to issue its next earnings results on Thursday, November 14th.

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

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

A number of equities research analysts have issued reports on LGND shares. HC Wainwright reiterated a “buy” rating and issued a $214.00 price target (down previously from $254.00) on shares of Ligand Pharmaceuticals in a research note on Friday, May 3rd. Barclays cut their price target on Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Argus set a $140.00 price target on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, June 10th. BidaskClub upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, August 16th. 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 note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $147.80.

In other Ligand Pharmaceuticals news, Director Jason Aryeh purchased 250 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of $111.01 per share, with a total value of $27,752.50. Following the acquisition, the director now owns 59,868 shares in the company, valued at $6,645,946.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sunil Patel purchased 1,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $95.98 per share, with a total value of $95,980.00. Following the acquisition, the director now owns 26,359 shares in the company, valued at approximately $2,529,936.82. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 9,350 shares of company stock valued at $927,504. 8.40% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of LGND. Janus Henderson Group PLC raised its position in Ligand Pharmaceuticals by 40.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,385,066 shares of the biotechnology company’s stock worth $174,117,000 after purchasing an additional 396,166 shares during the period. Norges Bank purchased a new stake in Ligand Pharmaceuticals in the 4th quarter worth about $31,990,000. Victory Capital Management Inc. raised its position in Ligand Pharmaceuticals by 39.6% in the 1st quarter. Victory Capital Management Inc. now owns 655,690 shares of the biotechnology company’s stock worth $82,428,000 after purchasing an additional 186,090 shares during the period. The Manufacturers Life Insurance Company raised its position in Ligand Pharmaceuticals by 37.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 557,512 shares of the biotechnology company’s stock worth $70,085,000 after purchasing an additional 152,649 shares during the period. Finally, Telemark Asset Management LLC purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth about $17,123,000.

LGND stock traded up $1.77 during trading on Wednesday, reaching $97.48. The company’s stock had a trading volume of 418,676 shares, compared to its average volume of 512,247. Ligand Pharmaceuticals has a 1 year low of $88.23 and a 1 year high of $278.62. The company has a quick ratio of 13.15, a current ratio of 13.23 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $1.80 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 2.08 and a beta of 1.30. The company’s fifty day moving average is $105.14 and its 200-day moving average is $115.25.

About Ligand Pharmaceuticals

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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