Ligand Pharmaceuticals (LGND) shares were up more than 7% in recent Thursday trading after the company reported higher Q3 results and raised its 2024 guidance.
Ligand posted Q3 adjusted earnings of $1.84 per diluted share, up from $1.02 a year earlier. Analysts polled by Capital IQ expected $1.35 a share.
Revenue for the quarter ended Sept. 30 was $51.8 million, compared with $32.9 million a year earlier. Analysts surveyed by Capital IQ expected $40.6 million.
Ligand said it now expects 2024 adjusted EPS to range between $5.50 and $5.70, compared with $5.00 to $5.50 previously. Analysts expect $5.39.
The firm now forecasts 2024 revenue of $160 million to $165 million, compared with $140 million to $157 million previously. Analysts expect $158.3 million.
Price: 125.40, Change: +8.50, Percent Change: +7.27
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.