Ligand Reaffirms FY24 EPS Guidance Of $4.25-$4.75 Vs $4.27 Est.; Revenue $130M-$142M Vs $138.5M Est.
Portfolio Pulse from Benzinga Newsdesk
Ligand Pharmaceuticals has reaffirmed its financial guidance for FY24, projecting EPS of $4.25-$4.75 and total revenue of $130M-$142M. This guidance, initially introduced during its Investor and Analyst Day on December 12, 2023, includes expected royalties of $90M-$95M, Captisol sales of $25M-$27M, and contract revenue of $15M-$20M.
February 27, 2024 | 12:12 pm
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Ligand Pharmaceuticals reaffirms its FY24 EPS guidance of $4.25-$4.75 and revenue forecast of $130M-$142M, aligning with analyst expectations.
Reaffirming financial guidance, especially when it aligns with or exceeds analyst expectations, can have a positive impact on investor sentiment and stock price. Ligand's confirmation of its FY24 guidance suggests confidence in its financial outlook and operational stability, likely leading to a positive short-term impact on its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100