What's the outlook for LGND's Q1 2025 earnings?

**Ligand Pharmaceuticals Inc. (LGND) is poised for a strong Q1 2025 earnings report**, based on the company's financial performance in the past, recent news, and market outlook. Here's a detailed analysis: 1. **Consistent Growth Trajectory**: LGND has demonstrated a consistent growth trajectory in its financial performance. In Q1 2024, the company reported a net income of $86.1 million, surpassing the estimated $13 million. This significant increase indicates a robust business model and operational efficiency. 2. **Revenue Outlook**: For Q1 2025, LGND is estimated to report $40.4 million in revenue. Although this is slightly below the revenue reported in Q1 2024 ($31.0 million), it is important to consider the company's growth trajectory and the potential for increased sales of its key products, such as Captisol. 3. **Earnings Per Share (EPS) Expectations**: The estimated EPS for Q1 2025 is $0.14. LGND has a history of surpassing EPS forecasts, as seen in Q1 2024 where the company reported $4.75 per share, beating the estimated $2.33 per share. This suggests that the company may continue to exceed market expectations in terms of profitability. 4. **Company's Outlook**: Despite a reported loss in Q4, Ligand Pharmaceuticals has confirmed its fiscal 2025 forecast, indicating confidence in its financial performance for the year. The company has reaffirmed earnings guidance for the year 2025, with expectations for royalty revenue ranging from $135 million to $140 million, sales of Captisol ranging from $35 million to $40 million, and contract revenue. 5. **Market Sentiment**: The stock's performance since the last earnings report suggests positive market sentiment. LGND's shares have added about 4% in the month following the last earnings report, outperforming the S&P 500. This indicates investor confidence in the company's future prospects. In conclusion, LGND is likely to deliver strong Q1 2025 earnings, with revenue expected to be around $40.4 million and EPS at approximately $0.14. The company's historical performance, along with its reaffirmed earnings guidance and positive market sentiment, supports this optimistic outlook.