Ligand Pharmaceuticals Inc reports results for the quarter ended in December - Earnings Summary

Ligand Pharmaceuticals Incorporated

28/02/2024 07:06

* Ligand Pharmaceuticals Inc  LGND.OQ  reported quarterly
adjusted
earnings of $1.38​​ per share for the quarter ended in December,
higher than the same quarter last year, when the company
reported EPS of $1.36.  The mean expectation of five analysts
for the quarter was for earnings of 66 cents per share. Wall
Street expected results to range from 63 cents to 68 cents per
share.
    * Revenue fell 40.3% to $28.10 million from a year ago;
analysts
expected $25.72 million. 
    * Ligand Pharmaceuticals Inc's reported EPS for the quarter
was
$1.03​.
    * The company reported quarterly net income of $18.19
million.
    * Ligand Pharmaceuticals Inc shares had risen by 24.9% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.7%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
pharmaceuticals
peer group is also "buy"

Wall Street's median 12-month price target for Ligand
Pharmaceuticals Inc is $110.00 
This summary was machine generated from LSEG data February 28 at
07:05 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.66           1.38           Beat
 Sep. 30 2023      0.61           1.02           Beat
 Jun. 30 2023      0.64           1.42           Beat
 Mar. 31 2023      0.89           2.28           Beat