Ligand Pharma (LGND) Prelim. Q3 Revs, EPS Top Views

Ligand Pharma (NASDAQ: LGND) reported that total revenues for the third quarter of 2014 are expected to be approximately $15 million and that non-GAAP earnings per diluted share are expected to be between $0.33 and $0.37. This compares with prior guidance issued on August 4, 2014 for total revenues to be between $13 million and $14 million and for non-GAAP earnings per diluted share to be between $0.26 and $0.29.

*** The Street sees Q3 revs of $14.2 million and EPS of $0.32.

Ligand also expects total revenues for the fourth quarter to be between $22.5 million and $24.5 million. Ligand’s guidance for the 2014 full year remains unchanged, with total revenues expected to be between $64 million and $66 million and non-GAAP earnings per diluted share expected to be between $1.50 and $1.55. The non-GAAP earnings per diluted share guidance for the 2014 third quarter and full year does not include changes in contingent liabilities, mark-to-market adjustment for amounts owed to licensors, non-cash stock-based compensation expense and debt discount and issuance cost amortization.

*** The Street expects Q4 revs of $23.5 million.

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