Analysts predict that Ligand Pharmaceuticals Inc. (NASDAQ:LGND) will report $49.62 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Ligand Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $48.80 million and the highest estimate coming in at $50.43 million. Ligand Pharmaceuticals reported sales of $50.46 million during the same quarter last year, which indicates a negative year over year growth rate of 1.7%. The firm is expected to announce its next earnings results on Wednesday, February 20th.

On average, analysts expect that Ligand Pharmaceuticals will report full year sales of $241.50 million for the current fiscal year, with estimates ranging from $240.70 million to $242.29 million. For the next year, analysts anticipate that the business will report sales of $212.80 million, with estimates ranging from $210.80 million to $214.80 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Ligand Pharmaceuticals.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, November 8th. The biotechnology company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.29. The firm had revenue of $45.66 million for the quarter, compared to analysts’ expectations of $41.99 million. Ligand Pharmaceuticals had a net margin of 73.78% and a return on equity of 26.17%. The business’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS.

Several research analysts have issued reports on LGND shares. HC Wainwright set a $281.00 target price on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Monday. Roth Capital reaffirmed a “neutral” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, August 8th. They noted that the move was a valuation call. Craig Hallum upped their target price on shares of Ligand Pharmaceuticals from $230.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. BidaskClub lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $227.00.

NASDAQ:LGND traded down $5.92 during mid-day trading on Wednesday, hitting $148.54. 462,300 shares of the company’s stock were exchanged, compared to its average volume of 418,396. Ligand Pharmaceuticals has a one year low of $126.50 and a one year high of $278.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.20 and a quick ratio of 2.19. The firm has a market capitalization of $3.28 billion, a P/E ratio of 57.80, a PEG ratio of 1.31 and a beta of 1.52.

In other Ligand Pharmaceuticals news, SVP Charles S. Berkman sold 19,417 shares of Ligand Pharmaceuticals stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $254.99, for a total transaction of $4,951,140.83. Following the sale, the senior vice president now owns 28,232 shares of the company’s stock, valued at approximately $7,198,877.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Charles S. Berkman sold 2,813 shares of Ligand Pharmaceuticals stock in a transaction on Monday, September 17th. The stock was sold at an average price of $250.69, for a total transaction of $705,190.97. Following the sale, the senior vice president now directly owns 30,576 shares in the company, valued at approximately $7,665,097.44. The disclosure for this sale can be found here. In the last three months, insiders sold 76,422 shares of company stock valued at $19,791,812. 7.80% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in LGND. First Hawaiian Bank purchased a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at about $131,000. Jackson Grant Investment Advisers Inc. purchased a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at about $137,000. Signaturefd LLC purchased a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at about $206,000. Fred Alger Management Inc. purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at about $207,000. Finally, Advisor Partners LLC purchased a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at about $207,000.

Ligand Pharmaceuticals Company Profile

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; 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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