JUPITER, Fla. (AP) 鈥� JUPITER, Fla. (AP) 鈥� Ligand Pharmaceuticals Inc. (LGND) on Thursday reported second-quarter net income of $48.5 million.
On a per-share basis, the Jupiter, Florida-based company said it had net income of $2.22. Earnings, adjusted for one-time gains and costs, were $2.37 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.08 per share.
The drugmaker posted revenue of $63.7 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $61.6 million.
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