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Ligand Pharmaceuticals (LGND) Stock Dips While Market Gains: Key Facts

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Ligand Pharmaceuticals closed the latest trading day at $77.96, indicating a -0.03% change from the previous session's end. This move lagged the S&P 500's daily gain of 1.11%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.24%.

The drugmaker's stock has climbed by 7.6% in the past month, exceeding the Medical sector's loss of 2.46% and the S&P 500's gain of 0.48%.

Market participants will be closely following the financial results of Ligand Pharmaceuticals in its upcoming release. The company is expected to report EPS of $1.13, down 50.44% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $32.5 million, reflecting a 26.1% fall from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.56 per share and a revenue of $139.25 million, signifying shifts of +12.32% and +6.04%, respectively, from the last year.

It is also important to note the recent changes to analyst estimates for Ligand Pharmaceuticals. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research demonstrates that these adjustments in estimates directly associate with imminent 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 17.18% higher within the past month. Ligand Pharmaceuticals is holding a Zacks Rank of #1 (Strong Buy) right now.

Looking at its valuation, Ligand Pharmaceuticals is holding a Forward P/E ratio of 17.1. This indicates a discount in contrast to its industry's Forward P/E of 23.56.

The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 30% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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