Ligand Pharma Guides FY23 EPS Above View, But Revenue Shy Of Estimates

(RTTNews) - Ligand Pharmaceuticals Incorporated (LGND) on Tuesday issued revenue and earnings guidance for the fiscal 2023. While revenue guidance is below the Street view, earnings are expected better than the consensus.

For the fiscal 2023, the company expects total core revenue of $118 million to $122 million, comprised of $72 million to $76 million from royalties, $21 million from sales of Captisol, and $25 million from contract revenue.

Five analysts, on average, polled by Thomson-Reuters estimate the firm to report revenue of $136.5 million, for the year. Analysts' estimates typically exclude one-time items.

For the 12-month period, Ligand projects adjusted EPS of $3.10 to $3.30. Analysts, on average, expect the company to post income per share of $2.99.