ARTICLE | Financial News

Ligand falls on earnings news

May 5, 2004 7:00 AM UTC

LGND dropped $3.36 (16%) to $18.30 on 10.6 million shares on Wednesday after announcing a first quarter net loss per share of $0.18, three times the Street estimate of a loss of $0.06. However, the company said it remains on track to meet its full year EPS guidance of $0.12-$0.19. For 2004, the Street consensus estimate is $0.16. ...