Ligand Pharmaceuticals Q1 2024 Adj EPS $3.84 Beats $0.78 Estimate, Sales $30.978M Beat $27.924M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ligand Pharmaceuticals (LGND) reported Q1 2024 adjusted EPS of $3.84, surpassing the $0.78 estimate, a 392.31% beat. Sales reached $30.978M, exceeding the $27.924M forecast by 10.94%, despite a 29.56% decrease from last year's $43.979M.
May 07, 2024 | 8:17 pm
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Ligand Pharmaceuticals significantly exceeded Q1 2024 EPS and sales estimates, showcasing strong financial performance despite a year-over-year sales decline.
The substantial beat on both EPS and sales estimates for Q1 2024 indicates a strong financial performance by Ligand Pharmaceuticals, likely leading to positive investor sentiment and potential short-term stock price appreciation. Despite the year-over-year sales decline, the earnings beat is significant enough to overshadow this aspect in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100