Ligand Shares Rise After Q3 Tops Expectations, Guidance Raised

MT Newswires Live

Nov 08, 2024

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

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Analysts expect $158.3 million.</p><p>Price: 125.40, Change: +8.50, Percent Change: +7.27</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LGND","symbol_name":"Ligand Pharmaceuticals Inc.","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2481137561","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481137561","pubTimestamp":1730999356,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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