In the latest market close, Ligand Pharmaceuticals reached $73.39, with a +1.2% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Heading into today, shares of the drugmaker had gained 1.41% over the past month, lagging the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61% in that time.
Market participants will be closely following the financial results of Ligand Pharmaceuticals in its upcoming release. The company's earnings per share (EPS) are projected to be $0.58, reflecting a 57.35% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $24.54 million, down 51.29% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Ligand Pharmaceuticals. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Ligand Pharmaceuticals is currently a Zacks Rank #4 (Sell).
In terms of valuation, Ligand Pharmaceuticals is presently being traded at a Forward P/E ratio of 16.41. This valuation marks a discount compared to its industry's average Forward P/E of 22.43.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 39% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Ligand Pharmaceuticals (LGND) Exceeds Market Returns: Some Facts to Consider
In the latest market close, Ligand Pharmaceuticals reached $73.39, with a +1.2% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Heading into today, shares of the drugmaker had gained 1.41% over the past month, lagging the Medical sector's gain of 2.3% and the S&P 500's gain of 1.61% in that time.
Market participants will be closely following the financial results of Ligand Pharmaceuticals in its upcoming release. The company's earnings per share (EPS) are projected to be $0.58, reflecting a 57.35% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $24.54 million, down 51.29% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Ligand Pharmaceuticals. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Ligand Pharmaceuticals is currently a Zacks Rank #4 (Sell).
In terms of valuation, Ligand Pharmaceuticals is presently being traded at a Forward P/E ratio of 16.41. This valuation marks a discount compared to its industry's average Forward P/E of 22.43.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 39% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.