The company closed more than 500 corporate locations in the quarter as part of its store optimization program and opened 10 new ones, resulting in 4,285 stores as of the end of the quarter.
A Wall Street Journal report said the move may have been to tackle the upcoming debt maturities that could affect its ability to secure up to $750 million in government funding under the 2022 Chips Act.
The company said it overspent on promotions last quarter and is taking an estimated $75 million charge tied to a write-down of its spring and summer collection.
The company, however, raised its full-year 2025 global net revenue target to approximately $575 million, up from its previous guidance of $540 million.
Under the agreement, Ligand’s wholly owned subsidiaries, Pelthos Therapeutics Inc. and LNHC, Inc. will combine with CHRO Merger Sub Inc., a wholly-owned subsidiary of Channel.
RBC Capital opined that Pacira's settlement of litigation for generic Exparel, which provides some closure to over a year's worth of overhang and uncertainty for shares, is a win for the company and the Exparel franchise.
Many investors start their journey toward financial security with stocks, and a successful investing strategy involves considering the risks, adapting, and thinking about the long-term rewards.
Last week, Telsey Advisory lowered the price target to $55 from $65 with a Market Perform rating following the company’s disappointing holiday sales and Q4 guidance
The appetite for risk has taken a hit in recent weeks, although the worst of the selling has, so far, been contained to US stocks, on a year-to-date basis.
