Ligand Pharmaceuticals (LGND) Releases Earnings Results, Beats Expectations By $0.32 EPS

Ligand Pharmaceuticals (LGND) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.97 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.32. Analysts had a consensus of $0.65. The company posted revenue of $29.60 million in the period, compared to analysts expectations of $26.58 million. The company’s revenue was up 102.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Ligand Pharmaceuticals. Ligand Pharmaceuticals was Initiated by Sidoti to “Buy” on Mar 11, 2016. H.C. Wainwright Initiated Ligand Pharmaceuticals on Mar 3, 2016 to “Buy”, Price Target of the shares are set at $146.

Ligand Pharmaceuticals opened for trading at $121.88 and hit $123.255 on the upside on Monday, eventually ending the session at $123.02, with a gain of 1.78% or 2.15 points. The heightened volatility saw the trading volume jump to 3,80,708 shares. Company has a market cap of $2,556 M.

In a different news, on May 3, 2016, John W Kozarich (director) sold 1,000 shares at $121.75 per share price. According to the SEC, on Mar 17, 2016, Matthew W Foehr (President and COO) sold 6,400 shares at $96.70 per share price. On Mar 9, 2016, John L Higgins (Chief Executive Officer) sold 10,833 shares at $102.71 per share price, according to the Form-4 filing with the securities and exchange commission.

Ligand Pharmaceuticals Incorporated (Ligand) is a biotechnology company that operates with a business model focused on developing or acquiring revenue generating assets and coupling them with a lean corporate cost structure. The Company’s technology CAPTISOL is a formulation technology that has enabled seven United States Food and Drug Administration (FDA) approved products including Kyprolis and Noxafil-IV and is being developed in several clinical-stage partner programs. The Company is engaged in the development of product candidates indicated for the treatment of diseases such as hepatitis multiple myeloma muscle wasting Alzheimer’s disease dyslipidemia diabetes anemia epilepsy focal segmental glomerulosclerosis (FSGS) and osteoporosis.

Ligand Pharmaceuticals

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