JUPITER, Fla. (AP) — JUPITER, Fla. (AP) — Ligand Pharmaceuticals Inc. (LGND) on Thursday reported a loss of $28.5 million in its third quarter.
The Jupiter, Florida-based company said it had a loss of $1.43 per share. Earnings, adjusted for non-recurring costs and stock option expense, were $2.67 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.31 per share.
The drugmaker posted revenue of $78.7 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $77.1 million.
Ligand expects full-year earnings in the range of $9.50 to $9.75 per share, with revenue in the range of $270 million to $310 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LGND at https://www.zacks.com/ap/LGND
