What is Zacks Small Cap's Forecast for LGND FY2025 Earnings?

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) - Stock analysts at Zacks Small Cap lifted their FY2025 earnings per share (EPS) estimates for shares of Ligand Pharmaceuticals in a research note issued on Monday, December 16th. Zacks Small Cap analyst J. Vandermosten now anticipates that the biotechnology company will post earnings per share of $4.63 for the year, up from their prior forecast of $3.85. The consensus estimate for Ligand Pharmaceuticals' current full-year earnings is $1.73 per share.

Other analysts have also issued research reports about the stock. Benchmark upped their target price on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Barclays lifted their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday. Oppenheimer increased their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $147.00.

Ligand Pharmaceuticals Trading Down 5.0 %

Ligand Pharmaceuticals stock traded down $6.02 during trading on Wednesday, hitting $114.41. 125,921 shares of the company were exchanged, compared to its average volume of 134,770. The company has a market capitalization of $2.16 billion, a P/E ratio of 45.58 and a beta of 1.01. The business's 50 day moving average is $114.74 and its 200 day moving average is $102.84. Ligand Pharmaceuticals has a 52 week low of $67.53 and a 52 week high of $129.90.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Several hedge funds have recently made changes to their positions in LGND. Franklin Resources Inc. boosted its stake in Ligand Pharmaceuticals by 503.5% in the 3rd quarter. Franklin Resources Inc. now owns 94,659 shares of the biotechnology company's stock worth $9,793,000 after purchasing an additional 78,973 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Ligand Pharmaceuticals during the 3rd quarter valued at $180,000. Geode Capital Management LLC increased its holdings in shares of Ligand Pharmaceuticals by 5.5% in the third quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company's stock worth $42,874,000 after purchasing an additional 22,495 shares during the period. Barclays PLC raised its position in shares of Ligand Pharmaceuticals by 20.0% in the third quarter. Barclays PLC now owns 43,456 shares of the biotechnology company's stock worth $4,349,000 after buying an additional 7,247 shares in the last quarter. Finally, MML Investors Services LLC purchased a new stake in shares of Ligand Pharmaceuticals in the third quarter worth $210,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 1,275 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, September 20th. The shares were 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 owns 24,610 shares in the company, valued at $2,557,963.40. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew E. Korenberg sold 9,772 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $101.22, for a total transaction of $989,121.84. Following the completion of the sale, the chief operating officer now directly owns 50,777 shares in the company, valued at approximately $5,139,647.94. This trade represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,728 shares of company stock valued at $2,271,575. Company insiders own 5.90% of the company's stock.

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.