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Ligand Pharmaceuticals can attract investors interest on earning estimates revision

Zacks Equity Research

Biotechnology company Ligand Pharmaceuticals Incorporated (LGND) could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on LGND’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Ligand Pharmaceuticals could be a solid choice for investors.

Current Quarter Estimates for LGND

In the past 30 days, 3 estimates have gone higher for Ligand Pharmaceuticals, while no estimates moved lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 15 cents a share 30 days ago to 20 cents today, a move of 29.5%.

Current Year Estimates for LGND

Meanwhile, Ligand Pharmaceuticals’ current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no estimates going lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 51cents per share 30 days ago to 56 cents per share today, an increase of 10.5%.

Bottom Line

The stock has also started to move higher lately, adding 7.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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