Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) had its price objective upped by equities researchers at Royal Bank Of Canada from $340.00 to $345.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 17.86% from the company’s current price.
A number of other research firms also recently commented on LGND. Bank of America lifted their price target on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Stifel Nicolaus increased their target price on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Weiss Ratings lowered Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 15th. HC Wainwright upped their price target on Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Oppenheimer restated an “outperform” rating and set a $326.00 price objective (up from $285.00) on shares of Ligand Pharmaceuticals in a research note on Monday. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $336.57.
Check Out Our Latest Analysis on Ligand Pharmaceuticals
Ligand Pharmaceuticals Stock Down 2.5%
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last released its earnings results on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.42. The company had revenue of $63.69 million during the quarter, compared to the consensus estimate of $60.87 million. Ligand Pharmaceuticals had a net margin of 55.95% and a return on equity of 16.19%. The company’s revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 EPS. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. On average, sell-side analysts predict that Ligand Pharmaceuticals will post 4.89 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director Jason Aryeh sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was 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. The trade was a 4.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Reardon sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $288.99, for a total value of $1,444,950.00. Following the transaction, the insider owned 41,514 shares of the company’s stock, valued at $11,997,130.86. This represents a 10.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 35,231 shares of company stock worth $9,199,401. 5.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Ligand Pharmaceuticals
Institutional investors have recently modified their holdings of the company. Franklin Resources Inc. increased its position in Ligand Pharmaceuticals by 115.9% in the 4th quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company’s stock valued at $93,809,000 after acquiring an additional 266,304 shares during the period. Invesco Ltd. grew its stake in shares of Ligand Pharmaceuticals by 64.6% in the third quarter. Invesco Ltd. now owns 378,295 shares of the biotechnology company’s stock worth $67,011,000 after purchasing an additional 148,437 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Ligand Pharmaceuticals by 385,028.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 146,349 shares of the biotechnology company’s stock valued at $27,670,000 after purchasing an additional 146,311 shares during the period. Fiera Capital Corp bought a new stake in shares of Ligand Pharmaceuticals during the fourth quarter valued at about $24,813,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at about $41,429,000. Institutional investors own 91.28% of the company’s stock.
Key Ligand Pharmaceuticals News
Here are the key news stories impacting Ligand Pharmaceuticals this week:
- Positive Sentiment: Ligand reported second-quarter EPS of $2.37, exceeding the $1.95 consensus estimate, while revenue rose 33.8% year over year to $63.69 million, above expectations of $60.87 million. EPS also increased from $1.60 in the prior-year quarter. Ligand Reports Second Quarter 2026 Financial Results
- Positive Sentiment: The company raised its fiscal 2026 EPS outlook to $9.00–$9.50, well above the analyst consensus of $8.13. Revenue guidance of $270 million–$310 million was reaffirmed, with the midpoint modestly above the $287.5 million consensus estimate. Ligand Pharmaceuticals Q2 Adjusted Earnings, Revenue Rise; 2026 Adjusted EPS Outlook Lifted, Revenue Outlook Reaffirmed
- Positive Sentiment: HC Wainwright raised its LGND price target from $289 to $358 and maintained a Buy rating, signaling continued confidence in Ligand’s royalty-based growth and earnings potential. HC Wainwright Price Target Update
- Negative Sentiment: Shares nevertheless dipped after the results. Investors may have been looking for a larger revenue outlook increase or stronger near-term upside, while the stock’s elevated valuation and sharp year-to-date appreciation leave it vulnerable to profit-taking even after a beat-and-raise quarter. Biopharma Royalty Powerhouse Dips Despite Beat-and-Raise Quarter
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.
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