Ligand Pharmaceuticals (LGND) on Monday reported adjusted profit of $2.59 per share on $90 million in sales for its second quarter. In the year-earlier period, it reported adjusted earnings of 67 cents a share on $28 million in sales.
XAnalysts polled by Zacks Investment Research had called for adjusted earnings of 93 cents a share on $60 million in sales.
For the year, Ligand guided to $232 million in sales, including $120 million in royalties, $23 million in material sales and $89 million in license fees and milestones. It also projected adjusted income of $6.30 per share. Analysts had forecast adjusted profit of $4.93 per share and $209 million in sales.
In after-hours trading on the stock market today, Ligand stock dipped a fraction after closing up 0.8%, at 226.74. Ligand is an IBD 50 stock.
More to follow.
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