Ligand Pharmaceuticals: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Ligand Pharmaceuticals reported its Q3 earnings, beating estimated earnings by 67.21% with an EPS of $1.02 versus an estimate of $0.61. However, revenue was down $33.22 million from the same period last year. Last quarter, the company beat on EPS by $0.78, which was followed by a 5.35% increase in the share price the next day.
November 08, 2023 | 9:10 pm
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Ligand Pharmaceuticals reported strong Q3 earnings, beating estimates significantly. However, the company's revenue was down compared to the same period last year.
Ligand Pharmaceuticals' strong earnings beat is likely to have a positive impact on the stock in the short term. However, the decrease in revenue year over year could temper some of the positive sentiment. The company's past performance shows a pattern of beating earnings estimates, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100