LIGAND PHARMACEUTICALS Reports Q2 Earnings Results with 54.1% Decrease in Revenue
August 28, 2023
🌥️Earnings Overview
On August 8, 2023, LIGAND PHARMACEUTICALS ($NASDAQ:LGND) reported their Q2 FY2023 earnings results, showing a total revenue of USD 26.4 million, a decline of 54.1% compared to Q2 FY2022. Net income for the quarter was USD 2.3 million, a significant improvement from the previous year’s -0.9 million.
Analysis
GoodWhale conducted an extensive analysis of LIGAND PHARMACEUTICALS‘s wellbeing and investment potential. After thorough examination, the company’s Risk Rating was determined to be high risk, giving potential investors cause for hesitation. GoodWhale uncovered four risk warnings when looking at the income sheet, balance sheet, non financial and financial journals. The risks uncovered are significant enough that potential investors should think twice about investing in LIGAND PHARMACEUTICALS. If you would like more information regarding these risks, you must become a registered user on GoodWhale. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ligand Pharmaceuticals. More…
| Total Revenues | Net Income | Net Margin |
| 163.48 | 27.16 | 3.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ligand Pharmaceuticals. More…
| Operations | Investing | Financing |
| 119.79 | 163.62 | -275.99 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ligand Pharmaceuticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 758.11 | 93.21 | 38.49 |
Key Ratios Snapshot
Some of the financial key ratios for Ligand Pharmaceuticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.0% | -21.6% | 42.6% |
| FCF Margin | ROE | ROA |
| 63.8% | 6.6% | 5.7% |
Peers
The company’s products include drugs for the treatment of cancer, HIV/AIDS, and other diseases. Ligand Pharmaceuticals Inc has a market capitalization of $2.7 billion and its competitors include SciSparc Ltd, Acasti Pharma Inc, and Mindset Pharma Inc.
– SciSparc Ltd ($NASDAQ:SPRC)
SciSparc Ltd. is a biopharmaceutical company that engages in the development of novel cancer therapies. The company has a market cap of $3.74 million and a return on equity of -45.91%. SciSparc’s pipeline includes several small molecule drugs that are in various stages of development. The company is headquartered in London, United Kingdom.
– Acasti Pharma Inc ($TSXV:ACST)
Acasti Pharma is a pharmaceutical company that focuses on the development and commercialization of prescription drugs for the treatment of cardiovascular diseases. The company has a market cap of 31.67M as of 2022 and a Return on Equity of -9.95%. Acasti Pharma’s products are designed to target the multiple mechanisms involved in the development of atherosclerosis and to provide novel therapeutic options for the treatment of this disease.
– Mindset Pharma Inc ($OTCPK:MSSTF)
Mindset Pharma Inc is a biotechnology company that focuses on the development of novel treatments for psychiatric disorders. The company has a market cap of 29.51M as of 2022 and a Return on Equity of -642.13%. Mindset Pharma Inc is headquartered in Montreal, Canada.
Summary
Investing in LIGAND PHARMACEUTICALS may be a risky choice given the company’s recent Q2 FY2023 earnings results, with total revenue significantly down by 54.1% compared to the same quarter in FY2022. However, net income fared better this quarter, improving to USD 2.3 million from -0.9 million in the same quarter the year before. This indicates the company may have some potential for profits in the future, provided they can manage to reduce costs and drive up revenue. Investors should carefully evaluate all of the risks and rewards of investing in LIGAND PHARMACEUTICALS before making any decisions.
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