Ligand Pharmaceuticals (NASDAQ:LGND) Issues FY 2026 Earnings Guidance

Ligand Pharmaceuticals (NASDAQ:LGND) issued an update on its FY 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 9.000-9.500 for the period, compared to the consensus EPS estimate of 8.130. The company issued revenue guidance of $270.0 million-$310.0 million, compared to the consensus revenue estimate of $287.5 million.

Ligand Pharmaceuticals Trading Down 0.8%

NASDAQ:LGND traded down $2.43 on Thursday, reaching $300.14. The company’s stock had a trading volume of 391,885 shares, compared to its average volume of 309,811. Ligand Pharmaceuticals has a 1-year low of $137.14 and a 1-year high of $326.63. The business’s 50-day moving average price is $284.75 and its two-hundred day moving average price is $234.90. The firm has a market cap of $6.01 billion, a PE ratio of 40.72, a PEG ratio of 2.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.45, a quick ratio of 20.95 and a current ratio of 21.28.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.42. Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The company had revenue of $63.69 million for the quarter, compared to analyst estimates of $60.87 million. During the same quarter last year, the firm posted $1.60 earnings per share. Ligand Pharmaceuticals’s revenue was up 33.8% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. Equities research analysts anticipate that Ligand Pharmaceuticals will post 4.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LGND. Oppenheimer reissued an “outperform” rating and set a $326.00 price objective (up from $285.00) on shares of Ligand Pharmaceuticals in a research report on Monday. Bank of America upped their target price on shares of Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Royal Bank Of Canada lifted their price target on Ligand Pharmaceuticals from $262.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. HC Wainwright boosted their price target on Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus upped their price objective on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $335.86.

Insiders Place Their Bets

In other Ligand Pharmaceuticals news, Director Jason Haas sold 6,461 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $255.58, for a total value of $1,651,302.38. Following the completion of the transaction, the director directly owned 4,981 shares in the company, valued at $1,273,043.98. This trade represents a 56.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen L. Sabba sold 2,145 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $254.00, for a total value of $544,830.00. Following the transaction, the director directly owned 33,629 shares in the company, valued at $8,541,766. This trade represents a 6.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,231 shares of company stock valued at $9,199,401 in the last quarter. Company insiders own 5.60% of the company’s stock.

More Ligand Pharmaceuticals News

Here are the key news stories impacting Ligand Pharmaceuticals this week:

• Positive Sentiment: Ligand reported second-quarter adjusted EPS of $2.37, exceeding the $1.95 analyst consensus, while revenue rose 33.8% year over year to $63.69 million, above estimates of $60.87 million. The company also reported a 55.95% net margin and 16.19% return on equity. Ligand Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised its fiscal 2026 EPS guidance to $9.00-$9.50, above the $8.13 consensus estimate, while reaffirming revenue guidance of $270 million-$310 million. The earnings outlook suggests continued strength in Ligand’s royalty and research-services businesses. Ligand Pharmaceuticals Q2 Adjusted Earnings, Revenue Rise; 2026 Adjusted EPS Outlook Lifted, Revenue Outlook Reaffirmed
• Positive Sentiment: HC Wainwright raised its price target from $289 to $358 and assigned a Buy rating, indicating additional potential upside based on the stronger earnings outlook. Oppenheimer also recently reaffirmed its Outperform rating. HC Wainwright Price Target Update
• Neutral Sentiment: The earnings call provided investors with additional details on Ligand’s operating performance and royalty-generating portfolio. Ligand Q2 2026 Earnings Call Transcript
• Negative Sentiment: The stock’s decline following the beat-and-raise results suggests that expectations were already high. With shares trading near their 52-week high and at a P/E ratio above 40, investors may be taking profits or demanding stronger revenue guidance before bidding the stock higher. Biopharma Royalty Powerhouse Dips Despite Beat-and-Raise Quarter
• Negative Sentiment: Insider Andrew Reardon sold 5,000 shares under a pre-arranged Rule 10b5-1 plan. While scheduled sales are not necessarily a bearish signal, the transaction can add modest short-term selling pressure. Ligand Insider Share Sale

Institutional Trading of Ligand Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in LGND. Invesco Ltd. lifted its holdings in shares of Ligand Pharmaceuticals by 64.6% during the third quarter. Invesco Ltd. now owns 378,295 shares of the biotechnology company’s stock worth $67,011,000 after buying an additional 148,437 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at about $21,498,000. Bank of Montreal Can grew its position in shares of Ligand Pharmaceuticals by 2,096.5% during the 3rd quarter. Bank of Montreal Can now owns 125,769 shares of the biotechnology company’s stock worth $22,279,000 after purchasing an additional 120,043 shares in the last quarter. UBS Group AG grew its position in shares of Ligand Pharmaceuticals by 234.2% during the 3rd quarter. UBS Group AG now owns 111,986 shares of the biotechnology company’s stock worth $19,837,000 after purchasing an additional 78,476 shares in the last quarter. Finally, Castleark Management LLC bought a new position in shares of Ligand Pharmaceuticals during the third quarter worth approximately $11,457,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.