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 Ratings Changes

A number of equities research analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $157.00 price objective on shares of Ligand Pharmaceuticals in a research note on Friday, November 8th. Barclays increased their price target 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 lifted their price objective on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their price objective on shares of Ligand Pharmaceuticals from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Oppenheimer boosted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $144.83.

Ligand Pharmaceuticals Stock Performance

Shares of LGND opened at $118.60 on Wednesday. Ligand Pharmaceuticals has a 52 week low of $60.28 and a 52 week high of $129.90. The firm has a market cap of $2.24 billion, a P/E ratio of 47.25 and a beta of 1.01. The firm’s 50-day simple moving average is $113.12 and its 200 day simple moving average is $101.67.

Insider Transactions at Ligand Pharmaceuticals

In other news, insider Andrew Reardon sold 2,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $99.60, for a total transaction of $199,200.00. Following the transaction, the insider now owns 22,534 shares in the company, valued at approximately $2,244,386.40. This trade represents a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Matthew E. Korenberg sold 9,772 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $101.22, for a total value of $989,121.84. Following the sale, the chief operating officer now directly owns 50,777 shares in the company, valued at $5,139,647.94. This represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,728 shares of company stock worth $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.