Ligand Pharmaceuticals (LGND) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest trading session, Ligand Pharmaceuticals (LGND) closed at $68.64, marking a -0.88% move from the previous day. This change lagged the S&P 500's 0.28% loss on the day. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.42%.
Heading into today, shares of the drugmaker had lost 6.95% over the past month, lagging the Medical sector's loss of 1.21% and the S&P 500's gain of 2.67% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Ligand Pharmaceuticals in its upcoming earnings disclosure. On that day, Ligand Pharmaceuticals is projected to report earnings of $1.07 per share, which would represent a year-over-year decline of 53.07%. Alongside, our most recent consensus estimate is anticipating revenue of $32.5 million, indicating a 26.1% downward movement from the same quarter last year.
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.
Investors might also notice recent changes to analyst estimates for Ligand Pharmaceuticals. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Ligand Pharmaceuticals possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Ligand Pharmaceuticals is presently being traded at a Forward P/E ratio of 15.67. This denotes a discount relative to the industry's average Forward P/E of 23.81.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 33% of over 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.
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 Incorporated (LGND) : Free Stock Analysis Report
