LIGAND PHARMACEUTICALS INC · Drugmakers

LGND

Low riskNext report: Around Nov 5 (est.)

View price ↗

The short version

A profitable company with growing sales. Institutions are adding.

Going well

Sales up 34% in the latest quarter vs a year ago
Profitable, keeps 46% of sales as profit
Sales up 60% last year

Watch out for

Share count growing 6.4% a year

Money moves

Insiders sold $1.5M in the last 30 days, all through pre-planned sales
Institutions added 8.8% to their holdings in the quarter ending June 2026 (244 bought, 146 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$308.24+1.6% that day

Company value: $6.1B; Share price times all shares
Price vs profit (P/E): 32.8x; You pay about $33 for each $1 of yearly profit
Price vs sales: 21.1x; Company value is 21.1 times a year of sales
Cash vs value: 16%; Cash as a share of company value

From LGND's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$63.7M+34% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $290.5M, up 55% from the 12 months before. Over 5 years, sales grew about 10% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of LGND. Starting points are the company's recent numbers.

Sales growth+30% a yearRecently: +55% a yearProfit margin50%Last 12 months: 67.9%P/E at the end33xToday: 32.8x. Many steady companies trade at 12x to 25xShare count change+7% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$1.1B

Profit in 5 years$539M

Price these guesses point to$636.59+107% vs $308.24 todayAbout +16% a year, before dividends

What today's price needs: with a 50% margin and a 33x P/E, sales would have to grow about 12% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/6Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.13.5%
PassDebt under half of equityNot relying on borrowed money.No debt reported
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.46.4%
MissProfitable every yearSteady profits, not one good year.6 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$48.9M
MissShare count not growingNot diluting owners. Falling means buybacks.+20.3% in 3 years

Revenue: $268.1M; +60.4% vs prior year
5-year growth: +10.4%/yr; revenue, per year
Total debt: None; 0.00x equity
Current ratio: 22.23x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 6

Revenue: $63.7M; +33.7% YoY
EPS: $2.22; vs $0.24
Op. margin: 13.5%; -4.2 pts
Free cash flow: $24.0M
Share count: +9.6%; vs a year ago

Insider rating

Last 90 days

45Mixed

Pre-planned sales of $1.5M (weaker signal)

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 1.3
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+8.8%

Institutions added 8.8% to their holdings. 244 bought, 146 sold. 2 quarters of net buying in a row.

Shares held by institutions22.7M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+4.7%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

No debt reported

Shares outstandingLatest reported

20M

Why low risk

1 offering filing in 6 months (may sell new shares)

Earnings reports

Last 12

Next reportAround Nov 5 (est.)Estimated from the same quarter last year

Results filedAug 6
Results filedMay 7
Results filedFeb 26
Results filedNov 6, 2025
Results filedAug 7, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

New 5%+ holder (passive)Aug 13 · View filing ↗Big holder Major agreementJun 25 · View filing ↗Offering

Insider trades

Open-market buys and sells, last 90 days

Bought$00 insiders

Sold$1.5M1 insider, 1 pre-planned

Insider	Trade	Shares	Avg price	Value	Owns after	Date
Andrew ReardonCLO & Secretary	Sell	5K	$304.07	$1.5M	32K	Oct 2Filing ↗
-13.6% of their holdings $302.51 to $307.74 across 6 trades Pre-planned sale (10b5-1) Filed 4 days after