Ligand Pharmaceuticals (NASDAQ:LGND) Issues FY25 Earnings Guidance

Ligand Pharmaceuticals (NASDAQ:LGND) issued an update on its FY25 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $6.00-6.25 for the period, compared to the consensus estimate of $6.03. The company issued revenue guidance of $180-200 million, compared to the consensus revenue estimate of $183.10 million. Ligand Pharmaceuticals also updated its FY24 guidance to $5.50-5.70 EPS.

Ligand Pharmaceuticals Trading Up 3.0 %

Ligand Pharmaceuticals stock opened at $119.88 on Tuesday. Ligand Pharmaceuticals has a 52 week low of $60.28 and a 52 week high of $129.90. The stock has a market cap of $2.27 billion, a P/E ratio of 46.35 and a beta of 1.01. The stock has a 50 day moving average of $112.78 and a 200-day moving average of $101.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LGND shares. Benchmark upped their target price on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Barclays upped their price target on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $157.00 price objective on shares of Ligand Pharmaceuticals in a report on Friday, November 8th. Royal Bank of Canada increased their target price on shares of Ligand Pharmaceuticals from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Oppenheimer raised their price target on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $144.83.

Insider Buying and Selling

In other news, Director John L. Lamattina sold 2,406 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the sale, the director now owns 29,515 shares of the company’s stock, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Octavio Espinoza sold 1,275 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $103.94, for a total value of $132,523.50. Following the completion of the transaction, the chief financial officer now directly owns 24,610 shares of the company’s stock, valued at $2,557,963.40. This trade represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,728 shares of company stock worth $2,271,575 in the last three months. 5.90% of the stock is owned by insiders.

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.