Ligand's royalty-aggregator model carries gross margins near 93% to 97% in most recent quarters, but operating margins have swung from 33.6% in Q1 2026 to -20.0% in Q3 2026, suggesting milestone timing and variable overhead drive earnings more than a steady compounding trajectory.
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Revenue swung from $115.5M in Q3 2025 to $51.7M in Q1 2026 and operating margin moved from 33.6% to -20.0% in Q3 2026, suggesting lumpy royalty recognition and thin operating conversion despite high gross margins near 96%.
Ligand invests in groundbreaking medicines, funding clinical development and commercialization of high-value programs to improve and extend lives globally.
LGND is actively traded with real-time stock prices, quotes, and financial overviews available for investors.
The company supports the development and commercialization of high-value biopharmaceutical programs, enhancing its pipeline potential.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 29, 2026 | $2.67+14.6% vs $2.33 | $79M+2.3% vs $77M |
Q3 2026 Aug 6, 2026 | $2.37+17.9% vs $2.01 | $64M+3.9% vs $61M |
Q2 2026 May 14, 2026 | $1.63-11.4% vs $1.84 | $52M-12.5% vs $59M |
Q1 2026 Feb 26, 2026 | $2.02+38.4% vs $1.46 | $60M+7.3% vs $56M |
JUPITER, Fla., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced that its senior management team will participate in the following upcoming investor conferences: UBS Global Healthcare Conference.
JUPITER, Fla., Oct. 22, 2026 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced that its annual Investor Day will take place on Tuesday, December 8, 2026 from 10:30 a.m. to 12:00 p.m. ET at the Harvard Club of New York City at 35 West 44th Street, New York, NY 10036.
JUPITER, Fla., Oct. 15, 2026 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced that it will report third quarter 2026 financial results on Thursday, October 29, 2026.
JUPITER, Fla., Sept. 24, 2026 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced that it has entered into a financing agreement with AvenCell Therapeutics, Inc., a clinical-stage cell therapy company developing controllable, allogeneic CAR-T therapies for patients with cancer, for up to $47 million.
Benchmark LGND against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Ligand Pharmaceuticals Incorporated (LGND)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $306.20 | $6.14B | 118.77 | 60.4% | 20.27% | 5.22% | — | |
| $15.85 | $2.19B | -1.25 | -2.75% | -43.27% | -68.13% | 7.26% | |
| $19.10 | $1.41B | 7.12 | 18.52% | 43.79% | 15.84% | — | |
| $109.67 | $5.29B | 18.12 | 5.91% | 31.67% | 49.07% | 4.53% | |
| $67.30 | $29.83B | 55.77 | 5.06% | 25.68% | 6.85% | 1% | |
| $3.61 | $250.51M | -1.78 | 105.77% | -169.75% | -26.02% | — |
Ligand Pharmaceuticals Incorporated (LGND) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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Ligand Pharmaceuticals Incorporated (LGND) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 29, 2026·SEC
Aug 6, 2026·SEC
Jul 14, 2026·SEC
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Ligand Pharmaceuticals Incorporated (LGND) stock FAQ — growth, dividends, profitability & financials explained
Ligand Pharmaceuticals Incorporated (LGND) reported $253.8M in revenue over the trailing twelve months. Revenue was $268.1M in fiscal year 2025. That is 628% more than the $36.8M of fiscal year 1996.
Ligand Pharmaceuticals Incorporated (LGND) grew revenue by 1.0% over the trailing twelve months, compared with the twelve months before.
Yes. Ligand Pharmaceuticals Incorporated (LGND) earned $51.5M in net income over the trailing twelve months (a 20.3% net margin).
Ligand Pharmaceuticals Incorporated (LGND) had a return on equity (ROE) of 5.2% over the trailing twelve months. That is below the market's typical 10-15%.
Ligand Pharmaceuticals Incorporated (LGND) generated $90.6M in free cash flow over the trailing twelve months.
