Ligand Pharmaceuticals (LGND) Exceeds Market Returns: Some Facts to Consider
Ligand Pharmaceuticals (LGND) ended the recent trading session at $73.11, demonstrating a +1.25% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.89%. On the other hand, the Dow registered a gain of 1.03%, and the technology-centric Nasdaq increased by 1.25%.
Shares of the drugmaker witnessed a loss of 0.22% over the previous month, trailing the performance of the Medical sector with its gain of 0.72% and the S&P 500's gain of 3.56%.
Analysts and investors alike will be keeping a close eye on the performance of Ligand Pharmaceuticals in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.07, signifying a 53.07% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $32.5 million, showing a 26.1% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.42 per share and revenue of $139.25 million, which would represent changes of +8.87% and +6.04%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Ligand Pharmaceuticals. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Ligand Pharmaceuticals is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Ligand Pharmaceuticals is presently trading at a Forward P/E ratio of 16.34. This denotes a discount relative to the industry's average Forward P/E of 24.53.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 84, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
