Ligand Pharmaceuticals (NASDAQ:LGND) Releases 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.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LGND. HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday. Royal Bank of Canada lifted their price target on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays upped their price objective on shares of Ligand Pharmaceuticals from $125.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Benchmark upped their target price on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Oppenheimer lifted their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $145.33.

Ligand Pharmaceuticals Stock Up 1.5 %

Shares of NASDAQ:LGND opened at $120.36 on Thursday. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 47.95 and a beta of 1.01. Ligand Pharmaceuticals has a fifty-two week low of $60.28 and a fifty-two week high of $129.90. The firm’s 50-day simple moving average is $113.53 and its 200-day simple moving average is $101.80.

Insider Activity

In other Ligand Pharmaceuticals news, COO Matthew E. Korenberg sold 6,275 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $104.10, for a total value of $653,227.50. Following the sale, the chief operating officer now owns 50,777 shares of the company’s stock, valued at approximately $5,285,885.70. This represents a 11.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Octavio Espinoza sold 1,275 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $103.94, for a total transaction of $132,523.50. Following the completion of the sale, the chief financial officer now owns 24,610 shares in the company, valued at $2,557,963.40. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,728 shares of company stock valued at $2,271,575 in the last three months. 5.90% of the stock is currently owned by company 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.