JUPITER, Fla. (AP) — JUPITER, Fla. (AP) — Ligand Pharmaceuticals Inc. (LGND) on Thursday reported second-quarter profit of $4.8 million.
On a per-share basis, the Jupiter, Florida-based company said it had profit of 24 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to $1.60 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.
The drugmaker posted revenue of $47.6 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $45.6 million.
Ligand expects full-year earnings in the range of $6.70 to $7 per share, with revenue in the range of $200 million to $225 million.
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