Ligand Pharmaceuticals (NASDAQ:LGND) Given New $345.00 Price Target at Royal Bank Of Canada

Ligand Pharmaceuticals (NASDAQ:LGND) had its price target raised by Royal Bank Of Canada from $340.00 to $345.00 in a research note published on Friday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the biotechnology company’s stock.

A number of other equities analysts have also recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $326.00 target price (up from $285.00) on shares of Ligand Pharmaceuticals in a report on Monday, August 3rd. HC Wainwright lifted their price objective on shares of Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup assumed coverage on shares of Ligand Pharmaceuticals in a report on Tuesday, July 21st. They issued a “buy” rating and a $387.00 target price for the company. Weiss Ratings downgraded shares of Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Finally, Bank of America boosted their price target on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $336.57.

Ligand Pharmaceuticals Stock Down 2.3%

Ligand Pharmaceuticals stock opened at $293.15 on Friday. The company has a market capitalization of $5.87 billion, a P/E ratio of 31.35, a PEG ratio of 2.77 and a beta of 1.13. The company has a debt-to-equity ratio of 1.16, a quick ratio of 20.95 and a current ratio of 34.52. Ligand Pharmaceuticals has a fifty-two week low of $137.14 and a fifty-two week high of $326.63. The stock has a 50-day simple moving average of $285.97 and a 200-day simple moving average of $235.30.

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

Insider Activity

In other Ligand Pharmaceuticals news, Director Jason Haas sold 6,461 shares of Ligand Pharmaceuticals 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 sale, the director owned 4,981 shares of the company’s stock, valued at approximately $1,273,043.98. The trade was a 56.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 owned 33,629 shares in the company, valued at $8,541,766. The trade was a 6.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,231 shares of company stock valued at $9,199,401 over the last ninety days. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Ligand Pharmaceuticals

A number of institutional investors have recently modified their holdings of LGND. Bank of New York Mellon Corp acquired a new position in Ligand Pharmaceuticals during the second quarter worth $41,429,000. Handelsbanken Fonder AB lifted its holdings in Ligand Pharmaceuticals by 22.5% in the second quarter. Handelsbanken Fonder AB now owns 10,358 shares of the biotechnology company’s stock valued at $3,274,000 after acquiring an additional 1,900 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter worth $75,000. Balefire LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter worth $330,000. Finally, GAMMA Investing LLC grew its stake in shares of Ligand Pharmaceuticals by 5.7% during the 2nd quarter. GAMMA Investing LLC now owns 681 shares of the biotechnology company’s stock worth $215,000 after purchasing an additional 37 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Ligand Pharmaceuticals

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

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.