Ligand Pharmaceuticals Stock (NASDAQ: LGND)

Ligand Pharmaceuticals Stock (NASDAQ:LGND), Trade Ideas

Ligand Pharmaceuticals

Ligand Pharmaceuticals Inc is a biopharmaceutical company focused on developing and acquiring technologies that aid in creating medicine. The company has partnerships and license agreements with various pharmaceutical and biotechnology companies. Ligand's business model is based on drug discovery, early-stage drug development, product reformulation, and partnerships. The company's revenue consists of three primary elements: royalties from commercialized products, license and milestone payments, and sale of its trademarked Captisol material.

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Ligand Pharmaceuticals beats Q4 2023 sales estimates at $28.1 million, with strong core Captisol and royalty figures. CEO Todd Davis highlights transformative 2023 and optimistic guidance for 2024.

Why Is Ligand Pharmaceuticals Stock Trading Higher Today?

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Hims & Hers Health, Inc. Class A Common Stock

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Shares of  Helix Energy Solutions Group, Inc. (NYSE: HLX) fell sharply during Tuesday’s session following weak earnings.

Why Helix Energy Solutions Shares Are Trading Lower By 11%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

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U.S. stocks were mixed, with the Dow Jones index falling around 100 points on Tuesday.

Norwegian Cruise Line Posts Strong Sales, Joins Hims &amp; Hers Health, Sterling Infrastructure And Other Big Stocks Moving Higher On Tuesday

Ligand Pharmaceuticals Incorporated - Common Stock

Ligand Pharmaceuticals Inc

Benchmark analyst Robert Wasserman reiterates Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) with a Buy and maintains $95 price target.

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Benchmark Reiterates Buy on Ligand Pharmaceuticals, Maintains $95 Price Target

Captisol-enabled&#x2122; Topiramate Injection shown to be a substitute for an oral dose on a one-to-one basis

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Ligand Pharmaceuticals Announces Topiramate Injection Data At 9th London-Innsbruck Colloquium On Status Epilepticus And Acute Seizures Conference

Pharmaceutical executive Scott Plesha named CEO
Lead product ZELSUVMI expected to be commercially available in late 2024
Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) today announced the launch of Pelthos Therapeutics (Pelthos), a biopharmaceutical company, and the appointment of seasoned industry executive Scott Plesha to the role of Chief Executive Officer.
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20240403857451/en/">https://www.businesswire.com/news/home/20240403857451/en/</a>
Scott Plesha, CEO, Pelthos Therapeutics (Photo: Business Wire)
Pelthos is committed to commercializing innovative, safe, and efficacious therapeutic products to help patients impacted by diseases with limited treatment options. The company's lead product is ZELSUVMI&#x2122; (berdazimer) topical gel, 10.3%, for the treatment of molluscum contagiosum (molluscum) in adults and pediatric patients one year of age and older.1 ZELSUVMI has received a Novel Drug designation from the U.S. Food and Drug Administration and is the first and only approved topical prescription medication that can be applied by patients, parents, or caregivers at home, outside of a physician's office, or other medical setting to treat this highly contagious viral skin infection.The product was developed using Pelthos' proprietary nitric oxide-based technology platform, NITRICIL&#x2122;. ZELSUVMI is expected to be available in the United States in late 2024.
Ligand acquired the rights to ZELSUVMI and all the assets related to the NITRICIL technology platform from Novan, Inc. in September 2023.
"ZELSUVMI is a highly differentiated product that we believe will bring significant improvements to the lives of patients living with tremendous unmet needs," said Todd Davis, CEO of Ligand. "We are excited for the launch of Pelthos, the commercialization of ZELSUVMI, and the advancement of the company under Scott's leadership."
Mr. Plesha brings to his role more than 30 years of experience in the pharmaceutical industry, including two decades building and leading specialty pharmaceutical commercial organizations. Prior to joining Pelthos, Mr. Plesha was President and Chief Commercial Officer at BioDelivery Sciences (BDSI) until it was acquired by Collegium Pharmaceutical in 2022. Under Mr. Plesha's leadership, BDSI sales grew from $5 million to $160 million. He previously served as Senior Vice President of Gastrointestinal Sales at Salix Pharmaceuticals. During his fifteen-year tenure at Salix, Mr. Plesha led a nationwide salesforce that grew product sales to more than $1.5 billion annually. Before Salix, Mr. Plesha was a Regional Sales Manager for Oclassen Dermatologics, a division of Watson Laboratories, and in commercial roles of increasing responsibility at Solvay Pharmaceuticals.
"I am excited to assume the leadership of Pelthos as we prepare to offer the first at-home therapy for the many patients who are completely untreated today or who need a more suitable option," said Scott Plesha. "This is a company that has several meaningful milestones on the horizon and a team that is ready to execute to meet the needs of patients."
Ligand intends to commercialize ZELSUVMI in partnership with a capital provider and/or strategic partner. This is consistent with Ligand's strategy to reposition and maximize the value of highly differentiated and promising pharmaceutical assets by combining premier management teams and outside funding sources in return for significant equity and royalty rights in the newly formed entities. To date, Ligand has created three companies utilizing this strategy: Viking Therapeutics, Primrose Bio, and OmniAb&#xAE;.
Pelthos is a wholly owned subsidiary of Ligand.
About ZELSUVMI&#x2122; (berdazimer) topical gel, 10.3%
ZELSUVMI (berdazimer) topical gel, 10.3% is a nitric oxide (NO) releasing agent indicated for the topical treatment of molluscum contagiosum in adults and pediatric patients one year of age and older. Complete prescribing information is available at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.zelsuvmi.com&amp;esheet=53921599&amp;newsitemid=20240403857451&amp;lan=en-US&amp;anchor=www.zelsuvmi.com&amp;index=1&amp;md5=6be2f0b0201b02a47ee75575c33d22f1">www.zelsuvmi.com</a>.

Management

Ligand Pharmaceuticals Announces Launch Of Pelthos Therapeutics To Accelerate Commercialization Of ZELSUVMI, Scott Plesha Named CEO

A significant insider transaction involving the exercise of company stock options was reported on March 27, by Todd C Davis, Chief Executive Officer at Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>), as per the latest SEC filing.
What Happened: Disclosed in a Form 4 filing on Wednesday with the <a href="https://www.sec.gov/Archives/edgar/data/0000886163/000200101124000035//Archives/edgar/data/886163/000200101124000035/0002001011-24-000035-index.htm">U.S. Securities and Exchange Commission</a>, Davis, Chief Executive Officer at Ligand Pharmaceuticals, executed a strategic derivative sale. This involved exercising stock options for 16,015 shares of LGND, resulting in a transaction value of $252,004.
Currently, Ligand Pharmaceuticals shares are trading up 2.61%, priced at $73.13 during Thursday's morning. This values Davis's 16,015 shares at $252,004.
<h3>About Ligand Pharmaceuticals</h3>
Ligand Pharmaceuticals Inc is a biopharmaceutical company focused on developing and acquiring technologies that aid in creating medicine. The company has partnerships and license agreements with various pharmaceutical and biotechnology companies. Ligand's business model is based on drug discovery, early-stage drug development, product reformulation, and partnerships. The company's revenue consists of three primary elements: royalties from commercialized products, license and milestone payments, and sale of its trademarked Captisol material.
<h3>Ligand Pharmaceuticals's Financial Performance</h3>
Decline in Revenue: Over the 3 months period, Ligand Pharmaceuticals faced challenges, resulting in a decline of approximately -44.22% in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Health Care sector.
Holistic Profitability Examination:
<ul>
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Gross Margin: With a high gross margin of 94.16%, the company demonstrates effective cost control and strong profitability relative to its peers.
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<li>
Earnings per Share (EPS): Ligand Pharmaceuticals's EPS outshines the industry average, indicating a strong bottom-line trend with a current EPS of 1.05.
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</ul>
Debt Management: Ligand Pharmaceuticals's debt-to-equity ratio is below the industry average. With a ratio of 0.01, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Valuation Analysis:
<ul>
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Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 23.52 is lower than the industry average, indicating potential undervaluation for the stock.
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Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 9.64 suggests overvaluation in the eyes of investors, considering sales performance.
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EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Ligand Pharmaceuticals's EV/EBITDA ratio of 10.98 exceeds industry averages, indicating a premium valuation in the market
</li>
</ul>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
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<h3>The Importance of Insider Transactions</h3>
Insider transactions contribute to decision-making but should be supplemented by a comprehensive investment analysis.
Considering the legal perspective, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, according to Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Nevertheless, insider sells may not necessarily indicate a bearish view and can be influenced by various factors.
<h3>A Deep Dive into Insider Transaction Codes</h3>
When analyzing transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase,while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000886163">Check Out The Full List Of Ligand Pharmaceuticals's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

At Ligand Pharmaceuticals, Todd C Davis Chooses To Exercise Options, Resulting In $252K

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) with a Buy and maintains $144 price target.

HC Wainwright & Co. Reiterates Buy on Ligand Pharmaceuticals, Maintains $144 Price Target

Ligand Pharmaceuticals Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) reported fourth-quarter 2023 sales of $28.1 million, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $25.72 million</a>.&nbsp;
Revenues for the same period in 2022, excluding sales related to COVID-19,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37331335/ligand-reports-fourth-quarter-and-full-year-2023-financial-results" rel="noreferrer noopener">were $26.8 million</a>.&nbsp;
Royalties for the fourth quarter of 2023 were $22.5 million, compared with $22.0 million for the same period in 2022.&nbsp;
Core Captisol sales (excluding sales of Captisol related to COVID-19) were $3.9 million compared with $3.3 million a year ago.&nbsp;
There were no Captisol sales related to treatments for COVID-19 for the fourth quarter of 2023, compared with $23.5 million in the fourth quarter of 2022. Contract revenue was $1.7 million, up from $1.5 million a year ago.
Adjusted net income from continuing operations for the fourth quarter of 2023 was $24.4 million, or $1.38 per diluted share, beating the consensus of $0.66 and up from $23.5 million, or $1.36 per diluted share, a year ago.
Excluding the impact of gains from sales of&nbsp;Viking&nbsp;Therapeutics Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) stock and gross profit from Captisol sales related to COVID-19, core adjusted net income for the fourth quarter of 2023, was $18.6 million, or $1.05 per diluted share, compared with $13.0 million, or $0.75 per diluted share, for the same period in 2022.&nbsp;
&#8220;2023 was a transformative year for Ligand, both operationally and financially. We refocused the company to be a lean-infrastructure, high-margin business&#8230;We are now well-positioned and resourced to close on multiple new investments. We also saw important clinical and regulatory events across our existing partnered assets and expect this momentum will continue in 2024 and beyond,&#8221; said Todd Davis, CEO of Ligand.
Guidance: Ligand reaffirms the fiscal year 2024 EPS guidance of $4.25-$4.75 versus the consensus estimate of $4.27. The company expects revenue of $130 million-$142 million <a href="https://www.benzinga.com/calendars/guidance">versus the consensus of $138.5 million.</a>
The company expects 2024 royalties ranging from $90 million to $95 million, sales of Captisol ranging from $25 million to $27 million, and contract revenue ranging from $15 million to $20 million.
Price Action:&nbsp;LGND shares are up 20.3% at $89.54 on the last check Tuesday.

Shares of Helix Energy Solutions Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hlx#NYSE">HLX</a>) fell sharply during Tuesday&rsquo;s session following weak earnings.
Helix Energy posted adjusted earnings of 6 cents per share, missing market estimates of 10 cents per share. The company&rsquo;s quarterly sales came in at $335.16 million versus expectations of $315.60 million.
Helix Energy Solutions shares dipped 11% to $9.13 on Tuesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Janux Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/janx#NASDAQ">JANX</a>) shares jumped 145% to $37.00 after the company announced updated clinical data for both of its clinical programs.</li>
<li>Presto Automation Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prst#NASDAQ">PRST</a>) surged 72% to $0.5657.</li>
<li>Viking Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vktx#NASDAQ">VKTX</a>) shares jumped 71.2% to $65.88 after the company announced the Phase 2 VENTURE trial successfully achieved its primary endpoint and all secondary endpoints.</li>
<li>CXApp Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cxai#NASDAQ">CXAI</a>) gained 67% to $2.58.</li>
<li>WeTrade Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wetg#NASDAQ">WETG</a>) gained 50% to $3.36.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>) climbed 33.6% to $13.70 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>Biora Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bior#NASDAQ">BIOR</a>) surged 32.2% to $1.39.</li>
<li>AdaptHealth Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ahco#NASDAQ">AHCO</a>) jumped 29.6% to $9.89 following fourth-quarter results.</li>
<li>Codexis, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdxs#NASDAQ">CDXS</a>) rose 29% to $4.1283. Codexis entered into exclusive licensing agreement with Roche for double-stranded DNA Ligase.</li>
<li>Beam Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/beam#NASDAQ">BEAM</a>) gained 26.8% to $45.43 after the company reported fourth-quarter financial results.</li>
<li>BigBear.ai Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bbai#NYSE">BBAI</a>) rose 26% to $3.14. Cantor Fitzgerald analyst Yi Fu Lee maintained BigBear.ai with an Overweight and maintained $3 price target.</li>
<li>5E Advanced Materials, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/feam#NASDAQ">FEAM</a>) gained 24.3% to $1.84.</li>
<li>Earlyworks Co., Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/elws#NASDAQ">ELWS</a>) gained 24.2% to $0.7321. Earlyworks was selected as a co-creation partner for MetaMe&reg; a meta-communication service utilizing cutting-edge technology from NTT DOCOMO, one of Japan&#39;s largest cell phone operators.</li>
<li>The Singing Machine Company, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mics#NASDAQ">MICS</a>) rose 24.1% to $0.9012.</li>
<li>SMX (Security Matters) Public Limited Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smx#NASDAQ">SMX</a>) jumped 24% to $0.3299.</li>
<li>Ligand Pharmaceuticals Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgnd#NASDAQ">LGND</a>) gained 23% to $91.68 following upbeat quarterly earnings.</li>
<li>SoundHound AI, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/soun#NASDAQ">SOUN</a>) jumped 22.3% to $7.03 after gaining more than 46% on Monday.</li>
<li>Pyxis Oncology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pyxs#NASDAQ">PYXS</a>) gained 21.3% to $5.80. Pyxis Oncology announced a $50 million private placement.</li>
<li>PubMatic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pubm#NASDAQ">PUBM</a>) shares climbed 20.8% to $20.01 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>bluebird bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blue#NASDAQ">BLUE</a>) jumped 20.5% to $1.76.</li>
<li>Altimmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alt#NASDAQ">ALT</a>) gained 20.4% to $13.63.</li>
<li>Sterling Infrastructure, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/strl#NASDAQ">STRL</a>) jumped 19% to $107.00 after the company reported fourth-quarter financial results.</li>
<li>Denali Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dnli#NASDAQ">DNLI</a>) gained 17.6% to $19.87 following quarterly results.</li>
<li>National Vision Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eye#NASDAQ">EYE</a>) rose 17.6% to $23.48 following strong results.</li>
<li>Heidrick &amp; Struggles International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hsii#NASDAQ">HSII</a>) gained 16.7% to $33.81 following strong results.</li>
<li>Ault Alliance, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ault#NASDAQ">AULT</a>) rose 15.8% to $0.4520. Ault Alliance announced record preliminary 2023 revenue of $153 million.</li>
<li>Portillo&#39;s Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ptlo#NASDAQ">PTLO</a>) gained 15.6% to $15.90 following upbeat results.</li>
<li>Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>) climbed 11.5% to $92.67 following upbeat earnings.</li>
<li>Constellation Energy Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ceg#NASDAQ">CEG</a>) gained 9.7% to $146.27 following strong sales..</li>
<li>NovoCure Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvcr#NASDAQ">NVCR</a>) gained 9.5% to $16.31.</li>
<li>TransMedics Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmdx#NASDAQ">TMDX</a>) gained 9.5% to $85.14 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Minerva Neurosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nerv#NASDAQ">NERV</a>) shares dipped 56.9% to $2.93 after the company announced it received a Complete Response Letter from the FDA for the New Drug Application for roluperidone for the treatment of negative symptoms in patients with schizophrenia.</li>
<li>Infobird Co., Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ifbd#NASDAQ">IFBD</a>) fell 55.8% to $1.2180. The stock continues to experience marked volatility after the company on Monday said it encountered an unexpected delay in its planned reverse stock split.</li>
<li>NRx Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nrxp#NASDAQ">NRXP</a>) fell 32.7% to $0.2878 after the company announced pricing of $1.5 million underwritten public offering of common stock at a price of $0.30/share together with investor commitment for additional $1 million.</li>
<li>Thoughtworks Holding, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/twks#NASDAQ">TWKS</a>) fell 30.6% to $3.20 after the company reported worse-than-expected fourth-quarter financial results and issued weak guidance.</li>
<li>Alpine 4 Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alpp#NASDAQ">ALPP</a>) dipped 26% to $0.8799.</li>
<li>Stagwell Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stgw#NASDAQ">STGW</a>) fell 25.6% to $5.22 after the company reported worse-than-expected fourth-quarter financial results.</li>
<li>Calidi Biotherapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cldi#NASDAQ">CLDI</a>) dipped 24.9% to $0.9084.</li>
<li>Clarivate Plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clvt#NYSE">CLVT</a>) fell 23.3% to $6.85 after the company reported fourth-quarter financial results and issued guidance.</li>
<li>Edgio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egio#NASDAQ">EGIO</a>) fell 21.5% to $0.2450. Edgio announced effectiveness of reverse stock split.</li>
<li>Telesis Bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tbio#NASDAQ">TBIO</a>) fell 21% to $0.5215 after tumbling 15% on Monday. Telesis Bio said it sees preliminary 2023 total consolidated revenue of $27.5 million.</li>
<li>Lotus Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lot#NASDAQ">LOT</a>) dipped 20.3% to $11.36.</li>
<li>Pineapple Energy Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pegy#NASDAQ">PEGY</a>) shares fell 19.6% to $0.0654. On Feb. 5. Pineapple Energy priced a $1 million registered direct offering of common stock.</li>
<li>The Aaron&#39;s Company, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aan#NYSE">AAN</a>) shares fell 16.7% to $8.71. Aaron&#39;s reported a loss for the fourth quarter, while sales missed estimates.</li>
<li>Perrigo Company plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/prgo#NYSE">PRGO</a>) fell 15.1% to $27.33 after the company reported fourth quarter financial results.</li>
<li>Intuitive Machines, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lunr#NASDAQ">LUNR</a>) fell 10% to $5.64. Intuitive Machines said communications with moon lander Odysseus is expected to cease Tuesday morning, effectively ending mission 5 days after touchdown, Reuters reported.</li>
<li>Unity Software Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/u#NYSE">U</a>) fell 8.3% to $30.31 after the company reported mixed financial results for its fourth quarter. The company said it sees first-quarter strategic portfolio revenue in the range of $415 million to $420 million.</li>
<li>Primoris Services Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prim#NASDAQ">PRIM</a>) dipped 7.2% to $ 37.63 after the company reported mixed fourth quarter financial results.</li>
<li>LendingTree, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tree#NASDAQ">TREE</a>) fell 6.9% to $31.90 following weak sales.</li>
<li>CarGurus, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/carg#NASDAQ">CARG</a>) shares fell 4.2% to $22.89 after the company reported fourth-quarter financial results.</li>
<li>Workday, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wday#NASDAQ">WDAY</a>) shares declined 2.9% to $298.42 after the company reported fourth-quarter financial results, reiterated guidance and announced its intent to acquire HiredScore.</li>
</ul>
&nbsp;
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Why Helix Energy Solutions Shares Are Trading Lower By 11%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

WIIM

Ligand Pharmaceuticals shares are trading higher after the company reported better-than-expected Q4 financial results and issued guidance.

U.S. stocks were mixed, with the Dow Jones index falling around 100 points on Tuesday.
Shares of Norwegian Cruise Line Holdings Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nclh#NYSE">NCLH</a>) rose sharply during Tuesday&rsquo;s session following better-than-expected <a href="https://www.benzinga.com/quote/NCLH/earnings">fourth-quarter revenues</a>.
Norwegian Cruise Line posted adjusted loss of 18 cents per share on revenue of $1.99 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Norwegian Cruise Line shares jumped 13% to $18.00 on Tuesday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>Janux Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/janx#NASDAQ">JANX</a>) shares rose 145% to $37.00 after the company announced updated clinical data for both of its clinical programs.</li>
<li>Viking Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vktx#NASDAQ">VKTX</a>) shares jumped 71.2% to $65.88 after the company announced the Phase 2 VENTURE trial successfully achieved its primary endpoint and all secondary endpoints.</li>
<li>WeTrade Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wetg#NASDAQ">WETG</a>) gained 50% to $3.36.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>) climbed 33.6% to $13.70 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>AdaptHealth Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ahco#NASDAQ">AHCO</a>) jumped 29.6% to $9.89 following fourth-quarter results.</li>
<li>Beam Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/beam#NASDAQ">BEAM</a>) gained 26.8% to $45.43 after the company reported fourth-quarter financial results.</li>
<li>BigBear.ai Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bbai#NYSE">BBAI</a>) rose 26% to $3.14. Cantor Fitzgerald analyst Yi Fu Lee maintained BigBear.ai with an Overweight and maintained $3 price target.</li>
<li>Ligand Pharmaceuticals Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgnd#NASDAQ">LGND</a>) gained 23% to $91.68 following upbeat quarterly earnings.</li>
<li>SoundHound AI, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/soun#NASDAQ">SOUN</a>) jumped 22.3% to $7.03 after gaining more than 46% on Monday.</li>
<li>PubMatic, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pubm#NASDAQ">PUBM</a>) shares climbed 20.8% to $20.01 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
<li>Sterling Infrastructure, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/strl#NASDAQ">STRL</a>) jumped 19% to $107.00 after the company reported fourth-quarter financial results.</li>
<li>Denali Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dnli#NASDAQ">DNLI</a>) gained 17.6% to $19.87 following quarterly results.</li>
<li>National Vision Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eye#NASDAQ">EYE</a>) rose 17.6% to $23.48 following strong results.</li>
<li>Magnite, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgni#NASDAQ">MGNI</a>) rose 15.7% to $ 11.31.</li>
<li>Portillo&#39;s Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ptlo#NASDAQ">PTLO</a>) gained 15.6% to $15.90 following upbeat results.</li>
<li>Dorman Products, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dorm#NASDAQ">DORM</a>) climbed 11.5% to $92.67 following upbeat earnings.</li>
<li>Constellation Energy Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ceg#NASDAQ">CEG</a>) gained 9.7% to $146.27 following strong sales..</li>
<li>TransMedics Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmdx#NASDAQ">TMDX</a>) gained 9.5% to $85.14 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/24/02/37334066/top-3-energy-stocks-that-could-sink-your-portfolio-in-q1"> Top 3 Energy Stocks That Could Sink Your Portfolio In Q1 </a>

Norwegian Cruise Line Posts Strong Sales, Joins Hims & Hers Health, Sterling Infrastructure And Other Big Stocks Moving Higher On Tuesday

<h3>Gainers</h3>
<ul>
<li>Janux Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JANX#NASDAQ">JANX</a>) stock rose 120.5% to $33.3 during Tuesday's pre-market session. The market value of their outstanding shares is at $1.5 billion. </li>
<li>Viking Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>) shares increased by 97.24% to $75.9. The market value of their outstanding shares is at $7.6 billion. </li>
<li>TransMedics Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) stock rose 22.2% to $95.0. The company's market cap stands at $3.1 billion. As per the news, the Q4 earnings report came out yesterday. </li>
<li>Codexis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDXS#NASDAQ">CDXS</a>) shares rose 21.24% to $3.88. The market value of their outstanding shares is at $270.9 million. </li>
<li>Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) shares moved upwards by 20.93% to $90.0. The company's market cap stands at $1.5 billion. The company's, Q4 earnings came out today. </li>
<li>Hims &amp; Hers Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) shares rose 19.5% to $12.25. The company's market cap stands at $2.5 billion. As per the press release, Q4 earnings came out yesterday. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>NRX Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRXP#NASDAQ">NRXP</a>) shares decreased by 22.9% to $0.33 during Tuesday's pre-market session. The company's market cap stands at $28.0 million. </li>
<li>Veradigm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDRX#NASDAQ">MDRX</a>) shares decreased by 22.03% to $6.48. The market value of their outstanding shares is at $708.0 million. </li>
<li>Precision BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTIL#NASDAQ">DTIL</a>) shares decreased by 18.32% to $13.07. The market value of their outstanding shares is at $53.1 million. </li>
<li>HeartBeam (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAT#NASDAQ">BEAT</a>) shares fell 14.79% to $1.21. The market value of their outstanding shares is at $31.8 million. </li>
<li>MediciNova (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNOV#NASDAQ">MNOV</a>) shares fell 11.54% to $1.15. The company's market cap stands at $56.4 million. </li>
<li>BioSig Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSGM#NASDAQ">BSGM</a>) stock fell 10.23% to $0.43. The market value of their outstanding shares is at $4.0 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Health Care Stocks Moving In Tuesday's Pre-Market Session

2024 Financial Guidance
Ligand is reaffirming 2024 financial guidance introduced at its Investor and Analyst Day held on December 12, 2023. The Company expects 2024 royalties ranging from $90 million to $95 million, sales of Captisol ranging from $25 million to $27 million and contract revenue ranging from $15 million to $20 million. These revenue components result in total revenue forecast of $130 million to $142 million. Ligand notes that with total revenue of $130 million to $142 million, adjusted earnings per diluted share are expected to range from approximately $4.25 to $4.75.
&nbsp;

Ligand Reaffirms FY24 EPS Guidance Of $4.25-$4.75 Vs $4.27 Est.; Revenue $130M-$142M Vs $138.5M Est.

Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) reported quarterly earnings of $1.38 per share which beat the analyst consensus estimate of $0.66 by 109.09 percent. This is a 1.47 percent increase over earnings of $1.36 per share from the same period last year. The company reported quarterly sales of $28.10 million which beat the analyst consensus estimate of $25.72 million by 9.26 percent. This is a 44.22 percent decrease over sales of $50.38 million the same period last year.

Ligand Pharmaceuticals Q4 EPS $1.38 Beats $0.66 Estimate, Sales $28.10M Beat $25.72M Estimate

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Earnings Scheduled For February 27, 2024

Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-02-27. Here's what investors need to know before the announcement.
Analysts estimate that Ligand Pharmaceuticals will report an earnings per share (EPS) of $0.66. 
Ligand Pharmaceuticals bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.41, which was followed by a 4.61% increase in the share price the next day.
Here's a look at Ligand Pharmaceuticals's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.61</td>
<td>0.64</td>
<td>0.89</td>
<td>1.19</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.02</td>
<td>1.42</td>
<td>2.28</td>
<td>1.36</td>
</tr>
<tr>
<td>Price Change %</td>
<td>5.0%</td>
<td>5.0%</td>
<td>3.0%</td>
<td>4.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708970471_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Ligand Pharmaceuticals were trading at $75.87 as of February 23. Over the last 52-week period, shares are up 3.87%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/LGND/earnings">To track all earnings releases for Ligand Pharmaceuticals visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Ligand Pharmaceuticals's Earnings: A Preview

Fycompa&#xAE; is the 16th Captisol-enabled&#x2122; product approved worldwide
Ligand Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) today announced that its partner Eisai Co., Ltd. obtained marketing authorization approval in January 2024 from the Japanese Ministry of Health, Labour and Welfare for the injection formulation of its in-house discovered antiepileptic drug (AED) Fycompa&#xAE; (perampanel) in Japan as an alternative therapy when oral administration is temporarily not possible. Fycompa is formulated with Captisol&#xAE;, a Ligand technology.
Fycompa is a first-in-class AED discovered at Eisai's Tsukuba Research Laboratories. The agent is a highly selective, noncompetitive AMPA receptor antagonist that is postulated to reduce neuronal hyper-excitation associated with seizures by targeting glutamate activity at AMPA receptors on postsynaptic membranes. Two oral formulations of Fycompa are available in Japan: a tablet and a fine granule formulation.
"It is essential that patients with epilepsy continue with their course of treatment, even when they are not able to take their medication orally," said Todd Davis, CEO of Ligand. "We are excited that our longtime partner Eisai is the company that is making this possible, and that Captisol is once again proving to be an invaluable building block in drug development by enabling a new formulation that will make a major difference in people's lives."
Ligand first entered into an agreement with Eisai on this product in 2017. Under the terms of the agreement, Ligand is entitled to a royalty on sales of intravenous Fycompa.
About perampanel (Fycompa&#xAE;)
Perampanel is a first-in-class anti-epileptic agent (AED) discovered and developed by Eisai. With epileptic seizures being mediated by the neurotransmitter glutamate, the agent is a highly selective, noncompetitive AMPA receptor antagonist that reduces neuronal hyperexcitation associated with seizures by targeting glutamate activity at AMPA receptors on postsynaptic membranes. Perampanel is currently approved in more than 75 countries and territories, including Japan, China, and other countries in Europe and in Asia as an adjunctive treatment for partial-onset seizures (with or without secondarily generalized seizures) in patients with epilepsy 12 years of age and older. In addition, perampanel has been approved in more than 70 countries, including Japan, in Europe and in Asia for treatment as an adjunctive therapy for primary generalized tonic-clonic seizures in patients with epilepsy 12 years of age and older. In Japan and China, perampanel is approved for monotherapy and adjunctive use in the treatment of partial-onset seizures (with or without secondarily generalized seizures) in patients with epilepsy 4 years of age and older. In Europe the approved age range is 4 years of age and older for the adjunctive treatment of partial-onset seizures (with or without secondarily generalized seizures) and 7 years of age and older for the treatment as an adjunctive therapy for primary generalized tonic-clonic seizure. A tablet, fine granule formulation and injection formulation have been approved in Japan. An oral suspension formulation and tablet have been approved in Europe and China. In January 2023, the commercial rights in the United States were transferred to Catalyst Pharmaceuticals, Inc.
About Captisol&#xAE;
Captisol is a patent-protected, chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. Captisol was invented and initially developed by scientists in the laboratories of Dr. Valentino Stella, University Distinguished Professor at the University of Kansas' Higuchi Biosciences Center, for specific use in drug development and formulation. This unique technology has enabled several FDA-approved products, including Amgen's Kyprolis&#xAE;, Baxter's NEXTERONE, Acrotech Biopharma's EVOMELA&#xAE;, Sage Therapeutics' ZULRESSO&#xAE;, and Merck's NOXAFIL&#xAE;. There are more than 40 active Captisol-enabled&#x2122; partnered programs in various stages of development. More information is available at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.captisol.com&amp;esheet=53900081&amp;newsitemid=20240222424618&amp;lan=en-US&amp;anchor=www.captisol.com&amp;index=1&amp;md5=28d7b7ed7239919ef0bebb5ae4a71381">www.captisol.com</a>.

Global

Ligand Partner Eisai Receives Approval In Japan For Injection Formulation Of Antiepileptic Drug Fycompa

Henlius, Sermonix Enters Strategic Collaboration And Exclusive License Agreements For Novel Endocrine Therapy Lasofoxifene

Ligand Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) today announced that the U.S. Food and Drug Administration (FDA) has approved ZELSUVMI&trade; (berdazimer topical gel, 10.3%) for the treatment of molluscum contagiosum (molluscum) in adults and pediatric patients one year of age and older.i The FDA approved ZELSUVMI as the first novel drug for the treatment of molluscum infections.

Ligand Pharmaceuticals  Announced That The FDA Has Approved Zelsuvmi Topical Gel, 10.3% For The Treatment Of Molluscum Contagiosum  In Adults And Pediatric Patients One Year Of Age And Older

The company provided an illustrative 5-year outlook, as follows:
<ul>
<li>Ligand&#39;s existing commercial programs, pipeline of mid- to late-stage programs and portfolio of over 75 additional partnerships (the &quot;Pharm Team&quot;) are expected to drive five-year growth in royalties at a compounded annual growth rate (CAGR) of 16%.</li>
<li>Layering on the first wave of potential future investments, the five-year CAGR for royalties could increase to above 20%.</li>
<li>Total core revenue could reach approximately $290 million by 2028.</li>
<li>EBITDA margin could exceed 80% by 2028.</li>
<li>Adjusted diluted EPS outlook for 2028 is in the range of $10.00 to $10.50.</li>
</ul>

Ligand Provides A 5-Year Outlook; Adjusted Diluted EPS Outlook For 2028 Is In The Range Of $10.00-$10.50; Total Core Revenue Could Reach ~$290M By 2028

Ligand Pharmaceuticals Incorporated (NASDAQ:<a href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) hosted anInvestor and Analyst Day in New York City earlier today. CEO Todd Davis and other members of Ligand's senior management team provided an overview of the company's business model and investment selection process, reviewed the progress of the portfolio including near-term partner milestones, and introduced 2024 guidance. A copy of the presentation and a replay of the webcast are available at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Finvestor.ligand.com&amp;esheet=53869844&amp;newsitemid=20231212987229&amp;lan=en-US&amp;anchor=investor.ligand.com&amp;index=1&amp;md5=01e20a5996e7cd03bf0ae21a79fd8bd4">investor.ligand.com</a>.
Business Model: Management reviewed Ligand's differentiated strategy, unique market position and business model, which is focused on investing in late-clinical stage assets and maintaining and licensing the company's Captisol&#xAE; technology platform to generate royalties and revenues for shareholders.
Investment Process: Management provided an overview of Ligand's investment criteria and due diligence process to source assets with superior risk-reward profiles.
Restructuring of Business: Management highlighted several key 2023 developments stemming from the company's decision to focus on a lean infrastructure and high-margin business:
<ul>
<li>Increased investment activity with 300+ deals reviewed, and five investments closed</li>
<li>Expanded the senior management team with additional experienced investment professionals</li>
<li>Opened a new office in Boston, MA</li>
<li>Spun-out the company's Pelican subsidiary</li>
<li>Decreased cash operating expenses</li>
</ul>
Late-Stage Assets: Management highlighted a selection of the most advanced late-stage assets in its portfolio and reviewed seven potential major pipeline events expected in 2024, including:
<ul>
<li>PDUFA target date for our berdazimer gel (acquired from Novan), January 2024</li>
<li>PDUFA target date for Verona Pharma's ensifentrine, June 2024</li>
<li>Phase 2b, 52-week biopsy data on Viking Therapeutics' VK-2809, H1 2024</li>
<li>Additional Phase 3 data on Merck's V116</li>
<li>Phase 3 data on Takeda's soticlestat</li>
<li>Phase 3 data on Marinus Pharmaceutical's ganaxolone-IV, Q2 2024</li>
<li>Initiation of Phase 3 trial for Palvella's PTX-022</li>
</ul>
Portfolio Highlights: Management highlighted the development status and market opportunity for select commercial stage and pipeline programs including Travere Therapeutics' FILSPARI&#x2122;, Verona Pharma's ensifentrine, and our berdazimer gel.
Recent Transactions: Management discussed the recent soticlestat and TZIELD (teplizumab) royalty acquisitions, which closed in Q4 2023.
Captisol Technology Platform: Management shared that Captisol continues to enable product approvals for Ligand partners, with five possible approvals anticipated in 2024.
2024 Investment Outlook: Management highlighted thatLigand's Q4 2023 pipeline has over 20 actionable opportunities representing more than $1 billion in potential investments. The company believes it is well positioned and resourced to close multiple new investments in 2024, depending on the size and quality of the opportunities.
The company introduced 2024 financial guidance, as follows:
<ul>
<li>Total revenue of $130 million to $142 million, comprised of $90 million to $95 million from royalties, $25 million to $27 million from sales of Captisol and $15 million to $20 million from contract revenue.</li>
<li>Adjusted diluted EPS of $4.25 to $4.75</li>
</ul>

Ligand Holds Investor And Analyst Day; Provides Update On Portfolio Progress And Recent Transactions; Introduces 2024 Guidance; Sees FY24 EPS $4.25-$4.75 Vs $4.17 Est.; Revenue $130M-$142M Vs $138.6M Est.

Ligand Pharmaceuticals gains amid bullish investor pitch

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Ligand Pharmaceuticals launches biopharmaceutical company Pelthos Therapeutics

Ovid Therapeutics gains on bullish view at Wedbush

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It may sound counterintuitive but if you want big gains, you have to think small, as in small-cap stocks. Here, the idea is to trade predictability for maximum profit potential.



To be sure, the aforementioned elements generally feature a counterbalancing framework. For example, the companies that feature the greatest magnitude of predictability are the established, large-capitalization businesses. However, you&rsquo;re not going to get much profit potential because everybody expects them to perform consistently.



On the other hand, small-cap stocks are wildly unpredictable. But you need this volatility to extract the biggest upside potential. If that sounds like an attractive gameplan, these lesser-known ideas may be right for you.



<h2>CECO Environmental (CECO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/large-cap-small-cap-energy-stocks-300x169.jpg" alt="energy stocks to buy: two light bulbs with grey sky in the background"><div>Source: Shutterstock</div></div>Falling under the industrial sector, CECO Environmental (NASDAQ:<a href="https://investorplace.com/stock-quotes/ceco-stock-quote/">CECO</a>) conducts business in the pollution and treatment control space. Per its <a href="https://finance.yahoo.com/quote/CECO/profile">public profile</a>, the company offers solutions in industrial air quality, industrial water treatment and energy transition protocols worldwide. Since the start of the year, CECO gained more than 18% of its equity value.



Fundamentally, it&rsquo;s no surprise that CECO has performed so well in 2024. Politically and ideologically, the narrative has shifted toward environmental protection. Notably, analysts rate CECO a <a href="https://www.tipranks.com/stocks/ceco/forecast">unanimous strong buy</a>. Overall, the average price target lands at $26.80, implying over 13% upside potential. The high-side estimate lands at $30.



Last year, CECO enjoyed a solid performance, printing a positive earnings surprise of 12.5%. Its best result came in the third quarter when it generated earnings per share of 22 cents against an expected target of 18 cents.



For fiscal 2024, experts anticipate revenue of $601.14 million. That&rsquo;s up over 10% from last year&rsquo;s tally of $544.85 million. Therefore, it&rsquo;s one of the small-cap stocks to consider.



<h2>VAALCO Energy (EGY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/large-cap-taking-out-mid-cap-small-cap-300x169.jpg" alt="businesswoman drawing large fish eating small fish to represent large-cap stock index funds"><div>Source: Shutterstock</div></div>An independent hydrocarbon energy specialist, VAALCO Energy (NYSE:<a href="https://investorplace.com/stock-quotes/egy-stock-quote/">EGY</a>) focuses on the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids. It operates in multiple countries, including Gabon, Egypt, Equatorial Guinea and Canada. Since the start of the year, EGY gained almost 60% of its equity value. It could be on for even more gains.



Right now, analysts are pegging EGY as a <a href="https://www.tipranks.com/stocks/egy">unanimous strong buy</a>. It&rsquo;s not a mistake in my view. With the geopolitical flashpoint in Europe likely to worsen before it gets better, hydrocarbon supplies to Western nations may be limited. Since these countries represent the biggest economies in the world, demand will rise against artificially falling supply. Investors just need to do the math.



To be sure, Vaalco performed poorly in 2023. For example, the average quarterly surprise between Q1 and Q3 came out to 43.4% below breakeven. And analysts on paper anticipate 2024 revenue to reach $430.27 million, down 5.4% from last year&rsquo;s print.



In my opinion, the projections will be revised upward eventually given the geopolitical realities. EGY is therefore one of the possible small-cap stocks to buy.



<h2>ACM Research (ACMR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/small-cap-winner-300x169.jpg" alt="a tiny man with boxing gloves having defeated a much larger man who is knocked out on the ground. nano-cap stocks"><div>Source: Shutterstock</div></div>Listed under the technology sphere, ACM Research (NASDAQ:<a href="https://investorplace.com/stock-quotes/acmr-stock-quote/">ACMR</a>) operates in the semiconductor equipment and materials subcategory. <a href="https://finance.yahoo.com/quote/ACMR/profile/">Per its corporate profile</a>, ACM develops, manufactures and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. Since the start of the year, ACMR stock gained nearly 72% of its equity value.



Just because it already enjoyed a robust performance doesn&rsquo;t mean it can&rsquo;t deliver even more for prospective investors. Currently, analysts rate shares a <a href="https://www.tipranks.com/stocks/acmr/forecast">unanimous strong buy</a> with a $37.75 average price target. That implies almost 18% upside potential.



Much of the excitement centers on ACM&rsquo;s strong financial performance. In Q4 last year, the company posted EPS of 43 cents against an expected print of 17 cents. As the semiconductor sector rises due to increased demand, ACM&rsquo;s critical services will likely attract the spotlight.



Experts see fiscal 2024 revenue hitting $701.7 million, up nearly 26% from last year. This is easily one of the top small-cap stocks to buy.



<h2>PAR Technology (PAR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/large-cap-winner-versus-small-cap-300x169.jpg" alt="a giant businessman standing in the middle of the road towering over a smaller, cowardly business man"><div>Source: Shutterstock</div></div>Another tech player, PAR Technology (NYSE:<a href="https://investorplace.com/stock-quotes/par-stock-quote/">PAR</a>) focuses on the application software realm. With its subsidiaries, Par provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. Granted, this is a bit of a riskier idea among small-cap stocks. Reflecting this dynamic, PAR stock gained less than 2% since the beginning of this year.



Still, let&rsquo;s look at the fundamentals. According to Deloitte, while the revenge travel phenomenon may be fading, <a href="https://www2.deloitte.com/content/dam/Deloitte/us/Documents/consumer-business/us-travel-hospitality-industry-outlook-2024.pdf">consumers are still prioritizing travel</a>. If so, that means restaurants &ndash; while hard hit right now &ndash; could eventually enjoy downwind benefits. Because of this dynamic, I don&rsquo;t find PAR stock&rsquo;s moderate buy assessment anywhere near shocking.



In fairness, Par suffered some ugly financial numbers. In the first half of last year, its quarterly surprise averaged 44.1% below breakeven. And in Q4, the company posted a loss of 33 cents against expected red ink of 26 cents per share.



However, looking to fiscal 2024, experts anticipate revenue of $480.44 million. That&rsquo;s up almost 16% from last year&rsquo;s result of $415.82 million. For patient investors, PAR could be one of the small-cap stocks to buy.



<h2>Applied Optoelectronics (AAOI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/large-cap-versus-small-cap-boxing-gloves-300x169.jpg" alt=""><div>Source: Shutterstock</div></div>Working under the communication equipment category, Applied Optoelectronics (NASDAQ:<a href="https://investorplace.com/stock-quotes/aaoi-stock-quote/">AAOI</a>) designs, manufactures and sells fiber-optic networking products in the U.S., Taiwan and China. According to its <a href="https://finance.yahoo.com/quote/AAOI/profile">public profile</a>, Applied offers myriad products, including optical modules, optical filters and laser components, among many others. However, it&rsquo;s one of the riskiest ideas among small-cap stocks, suffering a 33% year-to-date loss.



Nevertheless, that&rsquo;s not the entire story. In the past 52 weeks, AAOI stock gained slightly over 485% of equity value. As a result, some corrective action was arguably inevitable. After this bout of red ink diminishes, contrarians may want to jump back into the trade. Analysts are looking at shares as a moderate buy with an <a href="https://www.tipranks.com/stocks/aaoi/forecast">$18 price target</a>. That implies nearly 44% upside potential.



One reason for having confidence in Applied is its quarterly print. In Q4 last year, the company posted EPS of four cents. The expected target? A breakeven quarter. For fiscal 2024, analysts are looking for a loss per share of nine cents on revenue of $287.93 million.



Last year, the top line landed at $217.65 million, meaning the expectation calls for 32.3% growth.



<h2>Couchbase (BASE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/small-cap-stock-winner-300x169.jpg" alt="a tiny man with boxing gloves standing next to the feet of a giant man whom he presumably knocked out"><div>Source: Shutterstock</div></div>Conducting business in the software infrastructure arena, Couchbase (NASDAQ:<a href="https://investorplace.com/stock-quotes/base-stock-quote/">BASE</a>) provides a cloud database platform for enterprise applications in the U.S. and internationally. <a href="https://finance.yahoo.com/quote/BASE/profile">According to its corporate profile</a>, the company&rsquo;s database works in multiple configurations, ranging from cloud to multi- or hybrid-cloud to on-premise environments to the edge. With so many enterprises migrating to the cloud, BASE stock could be an intriguing upside idea.



Another reason to consider BASE as one of the top small-cap stocks is the underlying financial performance. Last fiscal year, the company&rsquo;s average quarterly surprise came out to 37.75%. Its best print was Q4, where Couchbase delivered a loss of six cents per share, better than the projected loss of 14 cents.



For the current fiscal year (2025), experts are looking for sales of $205.63 million. If so, we&rsquo;re talking about growth of 14.2% from 2023&rsquo;s tally of $180.04 million. And in fiscal 2026, they anticipate a top line of $241.3 million, implying 17.3% year-over-year growth. If you&rsquo;re into high potential small-cap stocks, BASE should be on your radar.



<h2>Ligand Pharmaceuticals (LGND)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/small-cap-stocks-small-man-300x169.jpg" alt="huge person next to tiny person to represent mega-cap stocks"><div>Source: Shutterstock</div></div>Operating under the healthcare umbrella, Ligand Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/lgnd-stock-quote/">LGND</a>) focuses on biotechnology. <a href="https://finance.yahoo.com/quote/LGND/profile">Per its corporate profile</a>, Ligand engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma and Rylaze, a therapeutic for acute lymphoblastic leukemia.



It&rsquo;s easy to support biotechs like LGND stock thanks to their lifesaving potential. However, the space is also volatile and unpredictable. For Ligand, its shares have only gained about 8% so far this year. Over the past 52 weeks, it has gained less than 7%. That just goes to show you how wild the price action has been.



Nevertheless, investors will likely appreciate the underlying financial performance. In fiscal 2023, the company&rsquo;s average positive earnings surprise came out to 113.6%. Its best print was Q1, when it posted EPS of $2.28 against an expected target of 89 cents.



For fiscal 2024, experts are looking for modest growth to $137.68 million. That&rsquo;s up 4.8% from last year. However, analysts also rate shares a <a href="https://www.tipranks.com/stocks/lgnd/forecast">unanimous strong buy</a> with a $116.33 price target, implying over 49% growth.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/7-small-cap-stocks-for-the-thinking-speculator/">7 Small-Cap Stocks for the Thinking Speculator</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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