Ligand Pharma Updates Earnings Guidance - Quick Facts

(RTTNews) - Ligand Pharmaceuticals Incorporated (LGND) updated its guidance for 2019 adjusted earnings per share to $3.00 from $3.20 previously to account for changes in tax expense. Ligand affirmed its revenue guidance for 2019 with total revenues expected to be approximately $118 million. Analysts polled by Thomson Reuters expect the company to report profit per share of $3.25, on revenue of $119.71 million. Analysts' estimates typically exclude special items.

Adjusted net income per share for the third quarter of 2019 was $0.49 compared with $1.32, prior year. The third quarter 2019 adjusted EPS was impacted by a change in tax assumptions resulting in a reduction of EPS by $0.12 in the quarter. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.61, for the quarter.

Total revenues for the third quarter of 2019 were $24.8 million, compared with $45.7 million for the same period in 2018. Analysts expected revenue of $23.29 million, for the quarter.