Ligand Pharmaceuticals closed the latest trading day at $53.30, indicating a +1.93% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 1.05%. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq increased by 1.64%.
Shares of the drugmaker have depreciated by 11% over the course of the past month, underperforming the Medical sector's loss of 5.29% and the S&P 500's loss of 2.21%.
Market participants will be closely following the financial results of Ligand Pharmaceuticals in its upcoming release. The company plans to announce its earnings on November 8, 2023. The company is forecasted to report an EPS of $0.68, showcasing a 65.85% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $27.22 million, down 58.82% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.10 per share and a revenue of $125.36 million, representing changes of +6.47% and -42.91%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Ligand Pharmaceuticals. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.13% increase. Right now, Ligand Pharmaceuticals possesses a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Ligand Pharmaceuticals is holding a Forward P/E ratio of 10.25. For comparison, its industry has an average Forward P/E of 15.92, which means Ligand Pharmaceuticals is trading at a discount to the group.
One should further note that LGND currently holds a PEG ratio of 0.51. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. LGND's industry had an average PEG ratio of 1.62 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Ligand Pharmaceuticals (LGND) Laps the Stock Market: Here's Why
Ligand Pharmaceuticals closed the latest trading day at $53.30, indicating a +1.93% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 1.05%. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq increased by 1.64%.
Shares of the drugmaker have depreciated by 11% over the course of the past month, underperforming the Medical sector's loss of 5.29% and the S&P 500's loss of 2.21%.
Market participants will be closely following the financial results of Ligand Pharmaceuticals in its upcoming release. The company plans to announce its earnings on November 8, 2023. The company is forecasted to report an EPS of $0.68, showcasing a 65.85% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $27.22 million, down 58.82% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.10 per share and a revenue of $125.36 million, representing changes of +6.47% and -42.91%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Ligand Pharmaceuticals. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.13% increase. Right now, Ligand Pharmaceuticals possesses a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Ligand Pharmaceuticals is holding a Forward P/E ratio of 10.25. For comparison, its industry has an average Forward P/E of 15.92, which means Ligand Pharmaceuticals is trading at a discount to the group.
One should further note that LGND currently holds a PEG ratio of 0.51. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. LGND's industry had an average PEG ratio of 1.62 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.