Ligand Pharmaceuticals/$LGND

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About Ligand Pharmaceuticals

Ligand Pharmaceuticals Inc is a biopharmaceutical company focused on developing and acquiring technologies that aid in creating medicine. The company has partnerships and license agreements with various pharmaceutical and biotechnology companies. Ligand's business model is based on drug discovery, early-stage drug development, product reformulation, and partnerships. The company's revenue consists of three primary elements: royalties from commercialized products, license and milestone payments, and sale of its trademarked Captisol material.

Ticker

$LGND
Sector
Primary listing

Employees

68

LGND Metrics

BasicAdvanced
$3.3B
-
-$4.00
0.74
-

What the Analysts think about LGND

Analyst ratings (Buy, Hold, Sell) for Ligand Pharmaceuticals stock.

Bulls say / Bears say

Royalty revenue in Q2 2025 increased 57% year-over-year to $36.4 million, pushing total revenue up 15% and leading management to raise 2025 guidance to $200 million–$225 million and adjusted EPS to $6.70–7.00.
Merck’s $10 billion acquisition of Verona Pharma validates Ligand’s royalty portfolio, since Ligand receives a 3% royalty on Ohtuvayre, supporting strong future cash flow.
Oppenheimer increased its price target on LGND to $167 and kept an Outperform rating after the solid Q2 report, reflecting strong analyst confidence in Ligand’s growth outlook.
Contract revenue in the first half of 2025 dropped to $7.3 million from $13.5 million a year earlier, highlighting the unpredictability of milestone-based income from partner programs.
Research and development expenses jumped to $56.7 million in H1 2025 from $11.3 million in H1 2024, mainly due to a $44.3 million one-time expense tied to the Castle Creek royalty financing, raising concerns about high cash burn and margin compression.
Ligand booked a $26.2 million impairment on its soticlestat royalty asset after Phase 3 trial failures, showing the risk of sudden write-downs if partner programs do not succeed.
Data summarised monthly by Lightyear AI. Last updated on 31 Aug 2025.

LGND Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

LGND Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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