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

Ligand Pharmaceuticals (NASDAQ:LGND) updated its FY 2026 earnings guidance on Thursday morning. 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 Stock Performance

LGND stock traded down $6.99 on Friday, reaching $293.15. The company’s stock had a trading volume of 313,611 shares, compared to its average volume of 300,344. The company has a debt-to-equity ratio of 1.16, a current ratio of 34.52 and a quick ratio of 20.95. Ligand Pharmaceuticals has a 52 week low of $137.14 and a 52 week high of $326.63. The firm has a fifty day moving average of $285.97 and a two-hundred day moving average of $235.30. The company has a market capitalization of $5.87 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 2.77 and a beta of 1.13.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.40. The company had revenue of $63.69 million for the quarter, compared to analysts’ expectations of $61.30 million. Ligand Pharmaceuticals had a return on equity of 20.06% and a net margin of 67.88%.The firm’s revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 earnings per share. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. As a group, analysts predict that Ligand Pharmaceuticals will post 4.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on LGND shares. Oppenheimer reissued an “outperform” rating and issued a $326.00 price target (up from $285.00) on shares of Ligand Pharmaceuticals in a research report on Monday, August 3rd. Citigroup assumed coverage on shares of Ligand Pharmaceuticals in a report on Tuesday, July 21st. They set a “buy” rating and a $387.00 price objective for the company. Weiss Ratings lowered shares of Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Stifel Nicolaus lifted their target price on shares of Ligand Pharmaceuticals from $255.00 to $332.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Bank of America boosted their target price on shares of Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.57.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 4,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $250.00, for a total transaction of $1,125,000.00. Following the completion of the transaction, the director owned 102,580 shares in the company, valued at $25,645,000. This trade represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen L. Sabba sold 2,145 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $254.00, for a total value of $544,830.00. Following the completion of the sale, the director owned 33,629 shares in the company, valued at approximately $8,541,766. This represents a 6.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 35,231 shares of company stock worth $9,199,401. 5.60% of the stock is currently owned by company insiders.

Key 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, beating analysts’ $1.95 consensus estimate, while revenue of $63.69 million exceeded expectations of $60.87 million. Revenue increased 33.8% year over year, and EPS rose from $1.60 in the prior-year quarter. Ligand Reports Second Quarter 2026 Financial Results
• Positive Sentiment: The company raised its fiscal 2026 adjusted EPS outlook to $9.00-$9.50, above the $8.13 analyst consensus. The outlook implies continued earnings growth and supports the investment case for Ligand’s royalty-focused business model. Ligand Pharmaceuticals Q2 Adjusted Earnings, Revenue Rise; 2026 Adjusted EPS Outlook Lifted, Revenue Outlook Reaffirmed
• Positive Sentiment: Royal Bank of Canada raised its price target from $340 to $345 and maintained an “outperform” rating. HC Wainwright also lifted its target from $289 to $358 and assigned a “buy” rating, signaling that analysts see further upside. Analyst Price Target Updates
• Neutral Sentiment: Ligand reaffirmed fiscal 2026 revenue guidance of $270 million-$310 million. Although the midpoint is below the $287.5 million consensus estimate, the range remains consistent with the company’s previous outlook and may reflect the timing of royalty and licensing revenue. Ligand Pharmaceuticals 2026 Q2 Results Presentation
• Negative Sentiment: The stock’s decline following the earnings beat suggests investors may have been looking for a larger revenue outlook increase or may be locking in gains after the shares’ strong run. The mixed revenue guidance could be limiting the immediate reaction to the otherwise favorable results. Biopharma Royalty Powerhouse Dips Despite Beat-and-Raise Quarter

Institutional Trading of Ligand Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in LGND. Invesco Ltd. increased its position in Ligand Pharmaceuticals by 36.5% in the 4th quarter. Invesco Ltd. now owns 516,464 shares of the biotechnology company’s stock valued at $97,648,000 after acquiring an additional 138,169 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Ligand Pharmaceuticals by 339.3% during the 4th quarter. Corient Private Wealth LLC now owns 12,388 shares of the biotechnology company’s stock valued at $2,342,000 after acquiring an additional 9,568 shares during the last quarter. Summit Global Investments lifted its stake in Ligand Pharmaceuticals by 67.6% in the fourth quarter. Summit Global Investments now owns 2,417 shares of the biotechnology company’s stock valued at $457,000 after buying an additional 975 shares during the period. XTX Topco Ltd bought a new position in Ligand Pharmaceuticals during the 4th quarter worth approximately $1,459,000. Finally, Voloridge Investment Management LLC grew its holdings in shares of Ligand Pharmaceuticals by 40.0% in the 4th quarter. Voloridge Investment Management LLC now owns 12,038 shares of the biotechnology company’s stock valued at $2,276,000 after buying an additional 3,442 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

About Ligand Pharmaceuticals

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.