Ligand Pharmaceuticals (NASDAQ:LGND) Updates FY 2024 Earnings Guidance

Ligand Pharmaceuticals (NASDAQ:LGND) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 5.500-5.700 for the period, compared to the consensus EPS estimate of 5.650. The company issued revenue guidance of $160.0 million-$165.0 million, compared to the consensus revenue estimate of $163.4 million.

Analyst Ratings Changes

Several research analysts recently commented on the stock. 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 note on Monday, December 16th. Royal Bank of Canada boosted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday. Finally, Oppenheimer boosted their price target on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $147.00.

Ligand Pharmaceuticals Stock Performance

NASDAQ:LGND opened at $114.25 on Friday. Ligand Pharmaceuticals has a one year low of $67.53 and a one year high of $129.90. The stock has a market cap of $2.16 billion, a PE ratio of 45.52 and a beta of 1.01. The stock has a 50 day moving average price of $116.15 and a 200 day moving average price of $104.07.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, Director John L. Lamattina sold 2,406 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the transaction, the director now directly owns 29,515 shares of the company’s stock, valued at $3,649,529.75. The trade was a 7.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $116.37, for a total value of $244,842.48. Following the sale, the chief financial officer now owns 20,647 shares in the company, valued at approximately $2,402,691.39. This trade represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

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.