Ligand Pharmaceuticals Q3 Adj EPS $1.02 Beats $0.61 Estimate, Sales $32.87M Beat $27.19M Estimate
Portfolio Pulse from bharat@benzinga.com
Ligand Pharmaceuticals reported Q3 earnings of $1.02 per share, beating the analyst consensus estimate of $0.61 by 67.21%. This is a 70% increase from the same period last year. The company also reported quarterly sales of $32.87 million, beating the analyst consensus estimate of $27.19 million by 20.88%. However, this is a 44.50% decrease from the same period last year.
November 08, 2023 | 9:18 pm
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NEUTRAL IMPACT
Ligand Pharmaceuticals' Q3 earnings and sales beat estimates, but sales are down 44.5% from the same period last year.
While Ligand Pharmaceuticals beat earnings and sales estimates, which is generally positive for the stock, the significant decrease in sales from the same period last year could offset this positive impact. Therefore, the short-term impact on the stock is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100