Ligand Pharmaceuticals Inc (NASDAQ: LGND) has reported earnings for its first fiscal quarter (ending March 31) of $4.86 versus $2.56 for the same period a year ago — an increase of 90%. This performance was $3.69 better than the consensus estimate of $1.17. For the latest four quarters through March 31, E.P.S. were $5.44 compared to $3.02 a year ago — an increase of 80%.
Recent Price Action
Ligand Pharmaceuticals Inc (NASDAQ: LGND) stock closed at $73.22 on 5/7/24 after a modest gain of 0.5%. Trading volume in this advance was normal. The stock has risen 3.9% during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, LGND is expected to continue to be an important Value Builder.
Ligand Pharmaceuticals has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Ligand Pharmaceuticals has a poor Appreciation Score of 27 but a good Power Rating of 83, with the Neutral Value Trend Rating the result.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
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