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Compared to Estimates, Ligand (LGND) Q3 Earnings: A Look at Key Metrics

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Ligand Pharmaceuticals (LGND - Free Report) reported $32.87 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 50.3%. EPS of $1.02 for the same period compares to $0.41 a year ago.

The reported revenue represents a surprise of +20.77% over the Zacks Consensus Estimate of $27.22 million. With the consensus EPS estimate being $0.68, the EPS surprise was +50.00%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Ligand performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Captisol: $8.61 million compared to the $4.27 million average estimate based on three analysts. The reported number represents a change of -76.1% year over year.
  • Revenues- Royalties: $23.86 million versus $22.10 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +20.3% change.
  • Revenues- Contract revenue: $0.40 million compared to the $1.27 million average estimate based on two analysts. The reported number represents a change of -96.2% year over year.
  • Revenues- Captisol- Core: $8.61 million versus $4.16 million estimated by two analysts on average.
View all Key Company Metrics for Ligand here>>>

Shares of Ligand have returned -11.9% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.

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