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Ligand Pharmaceuticals (LGND) Gains As Market Dips: What You Should Know
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Ligand Pharmaceuticals (LGND - Free Report) closed at $73.77 in the latest trading session, marking a +1.79% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.65%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq lost 1.16%.
Shares of the drugmaker witnessed a loss of 3.9% over the previous month, trailing the performance of the Medical sector with its gain of 3.18% and the S&P 500's gain of 3.4%.
Market participants will be closely following the financial results of Ligand Pharmaceuticals in its upcoming release. The company is predicted to post an EPS of $1.07, indicating a 53.07% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $32.57 million, reflecting a 25.94% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.42 per share and a revenue of $141.3 million, indicating changes of +8.87% and +7.6%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Ligand Pharmaceuticals possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Ligand Pharmaceuticals is holding a Forward P/E ratio of 16.4. Its industry sports an average Forward P/E of 22.45, so one might conclude that Ligand Pharmaceuticals is trading at a discount comparatively.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Ligand Pharmaceuticals (LGND) Gains As Market Dips: What You Should Know
Ligand Pharmaceuticals (LGND - Free Report) closed at $73.77 in the latest trading session, marking a +1.79% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.65%. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq lost 1.16%.
Shares of the drugmaker witnessed a loss of 3.9% over the previous month, trailing the performance of the Medical sector with its gain of 3.18% and the S&P 500's gain of 3.4%.
Market participants will be closely following the financial results of Ligand Pharmaceuticals in its upcoming release. The company is predicted to post an EPS of $1.07, indicating a 53.07% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $32.57 million, reflecting a 25.94% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.42 per share and a revenue of $141.3 million, indicating changes of +8.87% and +7.6%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Ligand Pharmaceuticals possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Ligand Pharmaceuticals is holding a Forward P/E ratio of 16.4. Its industry sports an average Forward P/E of 22.45, so one might conclude that Ligand Pharmaceuticals is trading at a discount comparatively.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.