Ligand Pharma (LGND) Tops Q2 EPS by 21c, Beats on Revenues; Guides FY17 Revenues Above Consensus

Ligand Pharma (NASDAQ: LGND) reported Q2 EPS of $0.67, $0.21 better than the analyst estimate of $0.46. Revenue for the quarter came in at $28.07 million versus the consensus estimate of $24.07 million.

2017 Financial Forecast

Ligand updates guidance for 2017 revenue to be at least $133 million, including royalties of approximately $87 million, material sales of approximately $23 million and contract payments of at least $23 million. During the remainder of 2017, Ligand estimates it could potentially receive up to an additional $9 million of contract payments. The Company will provide more information about the timing and probability for additional contract revenue, if any, expected to be booked in 2017 as the year continues. Ligand notes that with revenue of $133 million, adjusted earnings per diluted share would be approximately $2.93.

GUIDANCE:

Ligand Pharma sees FY2017 revenue of $133 million, versus the consensus of $132.4 million.

For earnings history and earnings-related data on Ligand Pharma (LGND) click here.

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