Ligand Pharmaceuticals (NASDAQ:LGND) Releases Earnings Results, Misses Estimates By $3.01 EPS

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) issued 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. The firm had revenue of $42.81 million during the quarter, compared to the consensus estimate of $39.03 million. 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 Down 8.2 %

Shares of NASDAQ:LGND traded down $10.05 during trading on Monday, reaching $112.18. 164,247 shares of the company traded hands, compared to its average volume of 94,481. Ligand Pharmaceuticals has a 52 week low of $67.72 and a 52 week high of $129.90. The firm has a market capitalization of $2.12 billion, a PE ratio of 44.69 and a beta of 1.04. The company's 50 day moving average is $114.18 and its two-hundred day moving average is $111.29.

Insider Buying and Selling

In related news, CFO Octavio Espinoza sold 2,104 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 20,647 shares in the company, valued at $2,402,691.39. This represents a 9.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LGND shares. Oppenheimer lifted their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Royal Bank of Canada raised their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Barclays boosted their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. HC Wainwright reaffirmed a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Finally, Benchmark reaffirmed a "buy" rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Ligand Pharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $147.00.

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.