Ligand Pharmaceuticals Inc Q1 adjusted earnings Beat Estimates

(RTTNews) - Ligand Pharmaceuticals Inc (LGND) revealed earnings for its first quarter that advanced from the same period last year.

The company's earnings came in at $45.28 million, or $1.83 per share. This compares with $5.08 million, or $0.22 per share, in last year's first quarter.

Excluding items, Ligand Pharmaceuticals Inc reported adjusted earnings of $35.66 million or $1.55 per share for the period.

Analysts had expected the company to earn $1.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 91.9% to $56.16 million from $29.27 million last year.

Ligand Pharmaceuticals Inc earnings at a glance:

-Earnings (Q1): $35.66 Mln. vs. $12.65 Mln. last year. -EPS (Q1): $1.55 vs. $0.57 last year. -Analysts Estimate: $1.15 -Revenue (Q1): $56.16 Mln vs. $29.27 Mln last year.

-Guidance: Full year EPS guidance: $4.85 Full year revenue guidance: $184 Mln