Recap: Ligand Pharmaceuticals Q3 Earnings

Shares of Ligand Pharmaceuticals LGND were flat in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 112.24% year over year to $1.04, which beat the estimate of $0.98.

Revenue of $41,848,000 up by 68.69% from the same period last year, which missed the estimate of $44,360,000.

Outlook

The upcoming fiscal year's EPS expected to be between $6.00 and $6.00.

The upcoming fiscal year's revenue expected to be between $285,000,000 and $285,000,000.

Details Of The Call

Date: Oct 30, 2020

Time: 08:30 AM

ET Webcast URL: https://engage.vevent.com/index.jsp?eid=7772&seid=77#/main/simplify

Price Action

Company's 52-week high was at $127.80

52-week low: $57.24

Price action over last quarter: down 29.55%

Company Profile

Ligand Pharmaceuticals is a biopharmaceutical company focused on developing and acquiring technologies that aid in creating medicine. The company has partnerships and license agreements with various pharmaceutical and biotechnology companies. Ligand's business model is based on drug discovery, early-stage drug development, product reformulation, and partnerships. The company's revenue consists of three primary elements: royalties from commercialized products, license and milestone payments, and sale of its trademarked Captisol material.