Following this sale, Espinoza retains ownership of 20,647 shares of Ligand Pharmaceuticals (NASDAQ:LGND). The shares were sold in multiple transactions, with prices ranging from $116.33 to $116.71. The company, based in San Diego, continues to be a notable player in the pharmaceutical preparations industry. InvestingPro analysis shows the stock has delivered an impressive 58% return over the past year, with 11 additional key insights available to subscribers through their comprehensive Pro Research Report. InvestingPro analysis shows the stock has delivered an impressive 58% return over the past year, with 11 additional key insights available to subscribers through their comprehensive Pro Research Report.
Following this sale, Espinoza retains ownership of 20,647 shares of Ligand Pharmaceuticals. The shares were sold in multiple transactions, with prices ranging from $116.33 to $116.71. The company, based in San Diego, continues to be a notable player in the pharmaceutical preparations industry.
In other recent news, Ligand Pharmaceuticals has been making significant strides in its financial performance. The company has confirmed its financial guidance for 2024 and offered an initial outlook for 2025, projecting a revenue growth between 10% and 20%, alongside improved earnings. Analyst firms, Benchmark, RBC (TSX:RY) Capital Markets, and Oppenheimer have maintained an optimistic outlook on Ligand, maintaining their Buy and Outperform ratings respectively, and updating their price targets.
Ligand's financial performance expectations for the fourth quarter of 2024 are optimistic, with anticipated revenues of $39.0 million, a 39% increase, and adjusted earnings forecasted at $1.05 per share. Looking ahead to 2025, Ligand expects to achieve $192.5 million in sales, marking an 18% rise from the estimated figures for 2024, with adjusted earnings anticipated to reach $6.05 per share.
These recent developments reflect Ligand's robust financial health and strategic market approach, with long-term royalty revenue growth projected at a compound annual rate of over 22%. The company is actively assessing 25 potential investments, each with an average targeted investment size of $30 million to $40 million. Ligand's 2025 financial outlook includes royalty revenue between $135 million and $140 million, Captisol sales between $35 million and $40 million, and contract revenue in the range of $10 million to $20 million.
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