Investors might want to bet on Ligand Pharmaceuticals (LGND) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. Analysts have been steadily raising their estimates for Ligand. Over the past three months, the Zacks Consensus Estimate for the company has increased 17.2%. The change in a company's future earnings potential, as reflected in earnings estimate r ...

When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate rev ...

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Ligand Pharmaceuticals (LGND) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.Ligand Pharmaceuticals is a member of the Medical sector. This grou ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________ FORM 10-Q ________________________________________________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Pe ...

Ligand Pharmaceuticals Incorporated (LGND) reported core adjusted diluted net income per share of $1.20 in first-quarter 2024 from continuing operations. Although earnings declined 10% year over, the figure still beat the Zacks Consensus Estimate of $1.13.Total revenues of $31.0 million were down 30% from the year-ago quarter’s levels. The reported figure missed the Zacks Consensus Estimate of $32.5 million.The downside in earnings and sales was due to the receipt of a milestone payment from Travere Therape ...

Ligand Pharmaceuticals (LGND) came out with quarterly earnings of $1.20 per share, beating the Zacks Consensus Estimate of $1.13 per share. This compares to earnings of $2.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.19%. A quarter ago, it was expected that this drugmaker would post earnings of $0.58 per share when it actually produced earnings of $1.05, delivering a surprise of 81.03%.Over the last four quarters, the ...

| --- | --- | --- | --- | |-------|--------------------------|--------------------------------------------------------------|-------| | | | | | | | LIGAND Financial Results | Biopharma's Technology andCapitalPartner First Quarter 2024 | | | | | | | This presentation contains forward-looking statements by Ligand and its partners that involve risks and uncertainties and reflect Ligand's and its partners' judgment as of the date of this presentation. Words such as "plans," "believes," "expects," "anticipates," ...

Revenue Performance - Total revenues for Q1 2024 were $31.0 million, down from $44.0 million in Q1 2023, representing a decrease of 29.5%[4] - Total revenues and other income for Q1 2024 were $30,978,000, a decrease of 29.5% compared to $43,979,000 in Q1 2023[26] Income and Earnings - Net income from continuing operations for Q1 2024 was $86.1 million, or $4.75 per diluted share, compared to $43.6 million, or $2.43 per diluted share in Q1 2023, marking a significant increase of 97.5%[6] - Net income from continuing operations for Q1 2024 was $86,139,000, representing a 97.1% increase from $43,614,000 in Q1 2023[26] - Basic net income per share from continuing operations increased to $4.86 in Q1 2024, up from $2.56 in Q1 2023[26] - Adjusted net income for Q1 2024 was $69.7 million, or $3.84 per diluted share, compared to $39.9 million, or $2.28 per diluted share in Q1 2023[6] - Adjusted net income from continuing operations for Q1 2024 was $69,665,000, compared to $39,904,000 in Q1 2023, reflecting a 74.8% increase[30] Cash and Assets - As of March 31, 2024, Ligand had cash, cash equivalents, and short-term investments totaling $310.6 million[7] - Cash, cash equivalents, and short-term investments rose to $310,593,000 as of March 31, 2024, compared to $170,309,000 at the end of 2023, reflecting an increase of 82.4%[28] - Total assets increased to $913,869,000 as of March 31, 2024, up from $787,216,000 at the end of 2023, marking an increase of 16.0%[28] - Total stockholders' equity reached $806,521,000 as of March 31, 2024, compared to $700,913,000 at the end of 2023, an increase of 15.1%[28] Royalties and Future Expectations - Royalties increased to $19.1 million in Q1 2024 from $17.6 million in Q1 2023, a growth of 8.5%, driven by products like Amgen's Kyprolis and Jazz Pharmaceuticals' RYLAZE[4] - Ligand expects 2024 royalties to range from $90 million to $95 million, with total revenue forecasted between $130 million and $142 million[8] - The company anticipates continued growth in its portfolio with life sciences royalty opportunities and expects to provide guidance for full-year 2024 financial results[20] Operational Developments - A $100 million royalty financing agreement was established with Agenus, providing Ligand with 18.75% of royalties on six oncology programs[9] - The commercial launch of ZELSUVMI®, a treatment for molluscum contagiosum, is anticipated in late 2024, following its FDA approval[10] Other Financial Information - Operating costs and expenses decreased to $27,990,000 in Q1 2024 from $29,774,000 in Q1 2023, a reduction of 6.0%[26] - The company reported a gain from short-term investments of $110,772,000 in Q1 2024, significantly higher than $39,533,000 in Q1 2023[26] Regulatory Updates - The FDA granted Priority Review for Travere Therapeutics' sNDA to convert FILSPARI from accelerated approval to full approval, with a PDUFA target action date of September 5, 2024[12] Accounting Adjustments - Amounts represent non-cash debt related costs calculated in accordance with authoritative accounting guidance for revolving credit facility and convertible debt instruments[1] - Adjustments bridge income from financial royalty assets to total contractual payments recorded in the period[2] - Changes in fair value of contingent consideration related to CyDex and Metabasis transactions are noted[3] - Excess tax benefits from share-based compensation recorded as a discrete item within the provision for income taxes due to ASU 2016-09 adoption[4] - Q1 2023 numbers adjusted to exclude after-tax impact from realized gain of Viking common stock[5] - Excluding impact from ASU 2020-06 adoption as the Company intended to settle the principal balance in cash[6]

Thanks to the Magnificent Seven, tech stocks have led the Q1 earnings season. In fact, as Sheraz Mian the Director of Zacks Investment Research points out, had it not been for the substantial earnings contribution of the Mag 7, Q1 earnings growth for the rest of the S&P 500 index would be in negative territory.That said, several top-rated Zacks Medical sector stocks are standing out ahead of their Q1 reports on Tuesday, May 7. With now looking like an ideal to invest in their growth, here are three of these ...

AndreyPopovThis is my sixth article on royalty aggregator Ligand Pharmaceuticals (NASDAQ:LGND). My most recent previous Ligand article was 06/2023's "Ligand Pharmaceuticals: The New Ligand ("New Ligand"). In it I rated Ligand as a "Buy". At the time it was selling for $76.42. As I write on 04/21/2024 Ligand currently trades at ~$70.00, down ~8%. I continue to rate Ligand at a "Buy" because of its recent streamlining moves as discussed in this article. I view it as a better investment now because of thes ...