Ligand Pharmaceuticals (NASDAQ:LGND) Releases FY 2025 Earnings Guidance

Ligand Pharmaceuticals (NASDAQ:LGND) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 6.000-6.250 for the period, compared to the consensus earnings per share estimate of 6.030. The company issued revenue guidance of $180.0 million-$200.0 million, compared to the consensus revenue estimate of $183.1 million.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LGND. Royal Bank of Canada raised their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday. Oppenheimer increased their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Benchmark boosted 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. Finally, Barclays increased their price target on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the company an “overweight” rating in a research note 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 Performance

LGND stock opened at $113.51 on Friday. The company has a market capitalization of $2.15 billion, a P/E ratio of 45.22 and a beta of 1.01. Ligand Pharmaceuticals has a 52-week low of $62.83 and a 52-week high of $129.90. The company has a fifty day moving average price of $113.76 and a 200-day moving average price of $101.88.

Insider Transactions at Ligand Pharmaceuticals

In related news, COO Matthew E. Korenberg sold 9,772 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $101.22, for a total transaction of $989,121.84. Following the sale, the chief operating officer now owns 50,777 shares in the company, valued at $5,139,647.94. This represents a 16.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Octavio Espinoza sold 1,275 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $103.94, for a total value of $132,523.50. Following the completion of the sale, the chief financial officer now owns 24,610 shares of the company’s stock, valued at approximately $2,557,963.40. The trade was 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 worth $2,271,575 over the last ninety days. 5.90% of the stock is owned by insiders.

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.