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 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

Shares of NASDAQ:LGND traded down $6.89 during midday trading on Friday, reaching $293.25. 93,080 shares of the company’s stock traded hands, compared to its average volume of 278,988. 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 has a one year low of $137.14 and a one year high of $326.63. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 39.66, a P/E/G ratio of 2.79 and a beta of 1.13. The stock has a 50 day moving average of $284.75 and a 200 day moving average of $234.90.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $2.37 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $60.87 million. During the same period last year, the company earned $1.60 EPS. Ligand Pharmaceuticals’s revenue for the quarter was up 33.8% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. As a group, equities research analysts anticipate that Ligand Pharmaceuticals will post 4.89 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Citigroup assumed coverage on Ligand Pharmaceuticals in a report on Tuesday, July 21st. They issued a “buy” rating and a $387.00 target price on the stock. Oppenheimer reissued an “outperform” rating and issued a $326.00 target price (up from $285.00) on shares of Ligand Pharmaceuticals in a research report on Monday. Royal Bank Of Canada boosted 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. Finally, HC Wainwright upped their price target on shares of Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Ligand Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $335.86.

Insider Activity at Ligand Pharmaceuticals

In other news, 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 transaction of $544,830.00. Following the transaction, the director owned 33,629 shares of the company’s stock, valued at approximately $8,541,766. The trade was a 6.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jason Haas sold 6,461 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $255.58, for a total value of $1,651,302.38. Following the sale, the director owned 4,981 shares in the company, valued at $1,273,043.98. The trade was a 56.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,231 shares of company stock valued at $9,199,401 over the last quarter. 5.60% of the stock is currently owned by insiders.

Key Stories Impacting Ligand Pharmaceuticals

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

• Positive Sentiment: Quarterly earnings beat expectations. Ligand reported adjusted EPS of $2.37, exceeding the $1.95 consensus estimate, while revenue rose 33.8% year over year to $63.69 million, ahead of the $60.87 million forecast. The company also reported a 55.95% net margin and $1.60 of EPS in the prior-year quarter. Ligand Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Full-year EPS outlook was raised. Ligand now expects FY 2026 EPS of $9.00 to $9.50, above the analyst consensus of $8.13. Revenue guidance of $270 million to $310 million was maintained, broadly bracketing the $287.5 million consensus estimate. Ligand Pharmaceuticals Q2 Adjusted Earnings, Revenue Rise; 2026 Adjusted EPS Outlook Lifted, Revenue Outlook Reaffirmed
• Positive Sentiment: Analyst support strengthened. HC Wainwright raised its price target from $289 to $358 and assigned a Buy rating, implying roughly 21% upside from the cited share price. HC Wainwright Raises Ligand Price Target
• Neutral Sentiment: Management discussed the quarterly results, outlook and business performance during the earnings call and presentation. Ligand Q2 2026 Earnings Call Transcript
• Negative Sentiment: Shares dipped despite the earnings beat and guidance increase. The muted reaction suggests investors may have already priced in strong results, while the unchanged revenue outlook and premium valuation could be limiting near-term upside. Ligand’s shares remain close to their 12-month high, increasing the potential for profit-taking.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in LGND. Royal Bank of Canada lifted its stake in Ligand Pharmaceuticals by 25.8% in the first quarter. Royal Bank of Canada now owns 6,120 shares of the biotechnology company’s stock worth $644,000 after purchasing an additional 1,256 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Ligand Pharmaceuticals in the first quarter worth about $344,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ligand Pharmaceuticals by 8.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,660 shares of the biotechnology company’s stock worth $1,121,000 after buying an additional 809 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Ligand Pharmaceuticals by 9.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,327 shares of the biotechnology company’s stock valued at $5,817,000 after buying an additional 4,926 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Ligand Pharmaceuticals by 176.2% during the 1st quarter. Jane Street Group LLC now owns 36,922 shares of the biotechnology company’s stock valued at $3,882,000 after buying an additional 23,553 shares in the last quarter. Hedge funds and other institutional investors 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.