Ligand raises FY24 EPS view to $5.50-$5.70, consensus $5.39

Ligand (LGND) is increasing its 2024 full year financial guidance previously outlined in July. The company now expects total revenue of $160 million to $165 million, previously $140 million to $157 million, and is raising core adjusted earnings per diluted share to $5.50 to $5.70, previously $5.00 to $5.50. Royalties are expected to be $105 million to $108 million, previously $100 million to $105 million, sales of Captisol of $27 million to $29 million, previously $25 million to $27 million, and contract revenue of $28 million, previously $15 million to $25 million . This guidance excludes the $60 million realized gain from short-term investments on the sale of Viking Therapeutics stock. Consensus for FY24 revenue is $156.38M…