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Ligand Pharmaceuticals Inc Q1 adjusted earnings Beat Estimates

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

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