Ligand Pharmaceuticals (NASDAQ:LGND) Issues Quarterly Earnings Results

Ligand Pharmaceuticals (NASDAQ:LGND) posted its earnings results on Thursday. The biotechnology company reported ($1.64) EPS for the quarter, missing the consensus estimate of $1.37 by ($3.01), Zacks reports. Ligand Pharmaceuticals had a return on equity of 4.95% and a net margin of 29.68%. Ligand Pharmaceuticals updated its FY 2025 guidance to 6.000-6.250 EPS.

Ligand Pharmaceuticals Stock Up 2.7 %

LGND traded up $3.05 during midday trading on Thursday, hitting $118.06. 106,278 shares of the company were exchanged, compared to its average volume of 89,669. Ligand Pharmaceuticals has a 1-year low of $67.72 and a 1-year high of $129.90. The firm’s 50 day moving average price is $113.99 and its 200-day moving average price is $110.97. The firm has a market capitalization of $2.23 billion, a P/E ratio of 47.05 and a beta of 1.04.

Insider Activity

In other news, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total transaction of $244,842.48. Following the transaction, the chief financial officer now directly owns 20,647 shares of the company’s stock, valued at $2,402,691.39. This represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Oppenheimer boosted their target price 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. Benchmark reissued a “buy” rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Barclays boosted their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Royal Bank of Canada upped their price objective on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $147.00.

About Ligand Pharmaceuticals

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.