LIGAND PHARMACEUTICALS Reports Strong Q2 FY2023 Earnings Results for June 30, 2023
August 13, 2023
☀️Earnings Overview
On August 8 2023, LIGAND PHARMACEUTICALS ($NASDAQ:LGND) reported their financial results for the second quarter of FY2023 as of June 30 2023. The company’s total revenue for the quarter saw a decline of 54.1% compared to the same period last year, amounting to USD 26.4 million. Net income for the quarter was USD 2.3 million, a significant improvement from the -0.9 million reported in the same quarter of the previous year.
Share Price
On Tuesday, LIGAND PHARMACEUTICALS reported strong second quarter fiscal year 2023 earnings results for June 30, 2023. The company’s stock opened at $66.1 and closed at $67.1, up by 1.3% from its last closing price of 66.3. This represented a positive growth for the company as it again exceeded analysts’ expectations. The company attributed its success to its steady growth in its sales and marketing efforts, as well as its continued focus on delivering innovative medicines to the global market. LIGAND PHARMACEUTICALS has made significant investments in research and development in order to stay ahead of the competition.
Additionally, the company has successfully launched several new products in the past year. The strong earnings report was welcomed by shareholders and investors, who were pleased to see the company’s continued success. LIGAND PHARMACEUTICALS has demonstrated it is committed to providing quality products and services to its customers, which has helped it to remain profitable in an increasingly competitive and challenging market. The company will continue to focus on driving further growth by increasing its market share, investing in new products and services, and continuing to focus on delivering innovative medicines to the global market. Live Quote…
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% |
Analysis
GoodWhale has conducted an analysis of LIGAND PHARMACEUTICALS‘ wellbeing to provide insight into its financial performance and potential to investors. Our Star Chart for LIGAND PHARMACEUTICALS reveals a health score of 9/10, indicating that the company is in good shape. This is largely due to its strong cashflows and manageable levels of debt, which demonstrate an ability to pay off debt and fund future operations. In terms of specific financial metrics, LIGAND PHARMACEUTICALS appears to be in a strong position in terms of assets. However, the company scores lower when it comes to growth, profitability, and dividend; indicating that it has achieved moderate revenue or earnings growth. Therefore, based on our analysis, we would classify LIGAND PHARMACEUTICALS as a ‘rhino’ — a company with a good financial health score but moderate growth potential. Given this information, investors with a long-term focus on capital appreciation may be well-suited to LIGAND PHARMACEUTICALS. The company’s healthy balance sheet means it is capable of weathering downturns in the market and shareholders will benefit from the company’s steady growth. As such, LIGAND PHARMACEUTICALS can make an attractive investment for those seeking moderate returns over time. More…
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 could prove to be a lucrative opportunity. The company recently reported its second quarter FY2023 financial results, revealing a total revenue of USD 26.4 million and a net income of USD 2.3 million. This signals that the company’s financials have improved significantly since last year, indicating that the business is well-positioned for future growth and profitability. Investors should consider adding Ligand Pharmaceuticals stock to their portfolios as it offers an attractive opportunity for long-term returns.
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