Ligand Pharmaceuticals Inc - Class B LGND Stock Analysis
- Nasdaq
- Stock
- Market closed · opens Monday 9:30 AM ET
$306.20 up $7.20, 2.41% at close Nov 6
Last close · Previous close $299.00
- Market cap
- $6.10BAt the Nov 6 close
- P/E ratio
- 133.13On last 12 months’ EPS
- Diluted EPS
- $2.30Last 12 months
- Dividend yield
- NoneLast 12 months
Price chart
$306.20up $7.20, 2.41%Fri, Nov 6 session
Use the left and right arrow keys to move along the chart.
Price data
Trading
- Previous close$299.00Nov 5
- Volume133.03KNov 6 session
Shares traded on all US exchanges in the last completed session. Live intraday volume covers IEX only, so it is left out.
- Avg. volume226.66KLast 21 sessions
The average daily shares traded over the last 21 trading sessions, about one calendar month.
- 52-week range: $175.89 to $326.63; now $306.20
The lowest and highest trades over the past 52 weeks, adjusted for splits. The marker shows the latest price.
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
Performance
Past performance, measured to the Nov 6 close. Total return includes reinvested dividends.Price change only, without dividends. Compared with the S&P 500, using SPY.
LGND beat the S&P 500 in 6 of 7 periods.
| Period | LGND and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | LGND: up 3.1% S&P 500: down 5.6% | LGND beat the S&P 500 by 8.7 percentage points Beat |
| 3M | LGND: up 2.0% S&P 500: down 4.1% | LGND beat the S&P 500 by 6.1 percentage points Beat |
| YTD | LGND: up 62.0% S&P 500: up 8.7% | LGND beat the S&P 500 by 53.3 percentage points Beat |
| 1Y | LGND: up 47.1% S&P 500: up 10.9% | LGND beat the S&P 500 by 36.2 percentage points Beat |
| Long term | ||
| 3Y | LGND: up 475.5% S&P 500: up 75.0% +79.2% vs +20.5% a year | LGND beat the S&P 500 by 400.5 percentage points Beat |
| 5Y | LGND: up 99.9% S&P 500: up 67.8% +14.9% vs +10.9% a year | LGND beat the S&P 500 by 32.1 percentage points Beat |
| 10Y | LGND: up 235.0% S&P 500: up 313.1% +12.9% vs +15.2% a year | LGND trailed the S&P 500 by 78.1 percentage points Trailed |
$10,000 invested in LGND 10 years ago (Nov 4, 2016) would be worth about $33,505 at the close on , with dividends reinvested. The same amount in the S&P 500 would be worth about $41,313.
LGND beat the S&P 500 in 6 of 7 periods.
| Period | LGND and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | LGND: up 3.1% S&P 500: down 5.6% | LGND beat the S&P 500 by 8.7 percentage points Beat |
| 3M | LGND: up 2.0% S&P 500: down 4.3% | LGND beat the S&P 500 by 6.3 percentage points Beat |
| YTD | LGND: up 62.0% S&P 500: up 7.8% | LGND beat the S&P 500 by 54.2 percentage points Beat |
| 1Y | LGND: up 47.1% S&P 500: up 9.7% | LGND beat the S&P 500 by 37.4 percentage points Beat |
| Long term | ||
| 3Y | LGND: up 475.5% S&P 500: up 68.8% +79.2% vs +19.1% a year | LGND beat the S&P 500 by 406.7 percentage points Beat |
| 5Y | LGND: up 99.9% S&P 500: up 56.9% +14.9% vs +9.4% a year | LGND beat the S&P 500 by 43.0 percentage points Beat |
| 10Y | LGND: up 235.0% S&P 500: up 252.6% +12.9% vs +13.4% a year | LGND trailed the S&P 500 by 17.6 percentage points Trailed |
$10,000 invested in LGND 10 years ago (Nov 4, 2016) would be worth about $33,505 at the close on , not counting dividends. The same amount in the S&P 500 would be worth about $35,257.
All-time high
$322.75
Closing high on . Now 5.1% below that record.
Split-adjusted daily closes since Nov 18, 1992.
Stock splits
1
1-for-6 on . Share counts adjust after each split.
Valuation
The Nov 6 close compared with the last 12 months of reported results (the four quarters to Sep 30, 2026). Tap a metric to see how it’s calculated.
Price-to-earnings (P/E)
133.1×The Nov 6 close ÷ diluted EPS over the last 12 months ($2.30)
The range covers daily P/E ratios from Oct 28, 2021 to Nov 6, 2026, each based on the previous 12 months of earnings.
LGND trades at 133.1× its earnings over the last 12 months, above its 5-year high of 125.0×. In plain terms, buyers are paying about $133 for each $1 of profit from the past year. How to read P/E
Other valuation measures
- 24.0×Last 12 months’ revenue
Market value divided by revenue over the last 12 months. Useful when earnings are small or negative.
P/S = Market cap ÷ Revenue (last 12 months)Price-to-sales ratio - 6.3×Book value as of Sep 30, 2026
Price relative to accounting equity (book value) per share on the Sep 30, 2026 balance sheet. Asset-light companies often trade far above book value.
P/B = Price ÷ Book value per sharePrice-to-book ratio - 69.1×Last 12 months’ EBITDA
Enterprise value divided by EBITDA over the last 12 months. It compares companies with different amounts of debt.
EV/EBITDA = Enterprise value ÷ EBITDA (last 12 months)EV/EBITDA explained - 10.01Last 12 months’ EPS growth
The P/E divided by the growth in diluted EPS over the last 12 months (+13.3% on the 12 months before). It looks backward: near 1 means the P/E roughly matches last year’s growth. Sites that use analysts’ growth forecasts show a different PEG.
PEG = P/E ÷ EPS growth (%) = 133.1 ÷ 13.3 - 1.48%Last 12 months’ free cash flow
Free cash flow over the last 12 months as a share of the company’s market value: the cash the business generated for each dollar of stock.
FCF yield = Free cash flow (last 12 months) ÷ Market capFree cash flow - $6.81BAt the Nov 6 close
What it would cost to buy the whole business: the market cap at the Nov 6 close, plus debt, minus cash and short-term investments from the Sep 30, 2026 balance sheet.
EV = Market cap + Debt − Cash and short-term investmentsEV/EBITDA explained
Build your own LGND DCF in Excel. Value Ligand Pharmaceuticals with your own growth and margin assumptions.Browse DCF models Free DCF calculator
Financials
Reported results, not forecasts. From company filings via Tiingo; the latest report is Q3 FY26, the quarter ended Sep 30, 2026. “Last 12 months” means the four quarters from Oct 1, 2025 to Sep 30, 2026, and balance-sheet figures are as of Sep 30, 2026.
Revenue and net income
Last 12 months, with the change from the 12 months before
- Revenue
- $253.83Mup 1.0%
- Net income
- $51.46Mup 5.9%
- Diluted EPS
- $2.30up 13.3%
Data table
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| Q4 FY24 (Dec 31, 2024) | $42.81M | −$31.09M | −$1.68 |
| Q1 FY25 (Mar 31, 2025) | $45.33M | −$42.45M | −$2.21 |
| Q2 FY25 (Jun 30, 2025) | $47.63M | $4.85M | $0.24 |
| Q3 FY25 (Sep 30, 2025) | $115.46M | $117.27M | $5.68 |
| Q4 FY25 (Dec 31, 2025) | $59.67M | $44.78M | $2.18 |
| Q1 FY26 (Mar 31, 2026) | $51.72M | −$13.35M | −$0.67 |
| Q2 FY26 (Jun 30, 2026) | $63.69M | $48.51M | $2.22 |
| Q3 FY26 (Sep 30, 2026) | $78.75M | −$28.49M | −$1.43 |
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| FY21 (Dec 31, 2021) | $241.54M | $57.14M | $3.31 |
| FY22 (Dec 31, 2022) | $196.25M | −$33.36M | −$1.98 |
| FY23 (Dec 31, 2023) | $131.31M | $52.15M | $2.94 |
| FY24 (Dec 31, 2024) | $167.13M | −$4.03M | −$0.22 |
| FY25 (Dec 31, 2025) | $268.09M | $124.45M | $6.13 |
Margins
- Gross 95.2%
- Operating 9.5%
- Net 20.3%
The percentages above the chart cover the last 12 months; the lines show each quarter. What margins tell you
Cash flow
- $90.43MLast 12 months
Cash from operations minus capital spending: the cash left after the business maintains and grows its assets.
FCF = Operating cash flow − Capital spendingFree cash flow - Operating cash flow$91.03MLast 12 months
- Capital spending$605.00KLast 12 months
- 35.6%Last 12 months
Free cash flow as a share of revenue, both over the last 12 months.
Shareholder returns
- $85.28MLast 12 months
Cash spent repurchasing shares, net of shares issued. Buybacks shrink the share count, so each remaining share owns more of the company.
- Dividends paid$0.00Last 12 months
- Total returned$0.00Last 12 months
0% of free cash flow
Balance sheet
- $637.75MAs of Sep 30, 2026
Cash plus short- and long-term marketable securities on the Sep 30, 2026 balance sheet.
- Total debt$1.15BAs of Sep 30, 2026
- Net debt$516.46MAs of Sep 30, 2026
- 1.22As of Sep 30, 2026
Current assets divided by current liabilities on the Sep 30, 2026 balance sheet. Above 1 means short-term assets cover the bills due within a year.
Current ratio = Current assets ÷ Current liabilitiesCurrent ratio - 1.20As of Sep 30, 2026
Total debt divided by shareholders’ equity on the Sep 30, 2026 balance sheet: a measure of financial leverage.
D/E = Total debt ÷ Shareholders’ equityDebt-to-equity ratio
Financial strength
- 4 of 9Last 12 months
vs the 12 beforeA 0–9 checklist from accounting professor Joseph Piotroski. Each test compares the last 12 months with the 12 months before and scores a point if it passes. 8–9 is strong; 0–2 is weak.
- ✓Net income was positive: passed
- ✓Operating cash flow was positive: passed
- ✗Return on assets improved: not passed
- ✓Operating cash flow exceeded net income: passed
- ✗Long-term debt fell relative to assets: not passed
- ✗Current ratio improved: not passed
- ✗Share count didn’t rise: not passed
- ✓Gross margin improved: passed
- ✗Asset turnover (revenue ÷ assets) improved: not passed
- 5.2%Last 12 months
Over the last 12 months, Ligand Pharmaceuticals’s net income was 5.2% of its shareholders’ equity (averaged over the last four quarter-ends). It describes the past year, not an expected return.
ROE = Net income (last 12 months) ÷ Average equityReturn on equity - 2.7%Last 12 months
Over the last 12 months, Ligand Pharmaceuticals’s net income was 2.7% of its total assets (averaged over the last four quarter-ends): what the business earned on everything it owns.
ROA = Net income (last 12 months) ÷ Average total assets
Dividends
Cash dividends per share by ex-dividend year, adjusted for splits.
Dividends per share
Data table
| Year | Per share |
|---|---|
| 2016 | $0.000 |
| 2017 | $0.000 |
| 2018 | $0.000 |
| 2019 | $0.000 |
| 2020 | $0.000 |
| 2021 | $0.000 |
| 2022 | $0.000 |
| 2023 | $0.000 |
| 2024 | $0.000 |
| 2025 | $0.000 |
| 2026 (to date) | $0.000 |
Dividend details
- $0.00Per share, last 12 months
Cash dividends per share with ex-dividend dates in the last 12 months.
- 0.00%; 5-yr low 0.05%, 5-yr high 0.13%Last 12 months
Dividends paid over the last 12 months as a share of the Nov 6 close. The bar shows where that yield sits in its range over the past five years; the median was 0.09%.
- $0.48Ex-dividend
The most recent payment per share. Shares bought on or after the ex-dividend date don’t receive it.
About Ligand Pharmaceuticals Inc - Class B
Ligand is a biopharmaceutical company enabling scientific advancement through supporting the clinical development of high-value medicines. Ligand does this by providing financing, licensing our technologies or both. Its business model seeks to generate value for stockholders by creating a diversified portfolio of biopharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure. Ligand’s goal is to offer investors an opportunity to participate in the promise of the biotech industry in a profitable and diversified manner. Its business model focuses on funding programs in mid- to late-stage drug development in return for economic rights, purchasing royalty rights in development stage or commercial biopharmaceutical products and licensing its technology to help partners discover and develop medicines. Ligand partners with other pharmaceutical companies to leverage what they do best (late-stage development, regulatory management and commercialization) in order to generate its revenue. Ligand’s Captisol® platform technology is a chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. Ligand’s NITRICIL™ platform technology facilitates tunable dosing, permitting an adjustable drug release profile to allow proprietary formulations that target a broad range of indications. Ligand has established multiple alliances, licenses and other business relationships with the world’s leading biopharmaceutical companies including Amgen, Merck, Pfizer, Jazz, Gilead Sciences, and Baxter International.
- Sector
- Healthcare
- Industry
- Biotechnology
- Headquarters
- California, USA
- SEC filings
- EDGAR (opens in a new tab)
- Exchange
- Nasdaq
- Asset type
- Common stock
- Price history since
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LGND stock FAQ
What is LGND stock’s price today?
Ligand Pharmaceuticals (LGND) traded at $306.20 at the close on , up $7.20 (2.41%) from the previous close of $299.00. Over the past 52 weeks it has traded between $175.89 and $326.63.
If you invested $1,000 in LGND 10 years ago, how much would you have now?
With dividends reinvested, $1,000 invested in LGND on would be worth about $3,350 at the close on , a total return of +235.0%. The same $1,000 would be worth $1,999 if invested five years ago, $1,471 if invested one year ago, $6,492 if invested 20 years ago, and $5,794 if invested 30 years ago. Past performance doesn’t predict future returns.
What is Ligand Pharmaceuticals’s market cap?
Ligand Pharmaceuticals’s market capitalization is about $6.1 billion. That’s Tiingo’s daily market cap for , at that day’s closing price of $306.20 (how market cap works). Ligand Pharmaceuticals reported 19.94M shares outstanding at the end of its latest quarter ().
What is LGND’s P/E ratio?
LGND trades at 133.1 times its diluted earnings over the four quarters to ($2.30 per share), at the close. Over the past five years its P/E has ranged from 12.6 to 125.0, with a median of 41.2. (How the P/E ratio works.)
How much revenue does Ligand Pharmaceuticals make?
Ligand Pharmaceuticals reported $253.8 million of revenue over the four quarters to , up 1.0% from the twelve months before. In its latest quarter (Q3 FY26, ended ) revenue was $78.7 million, down 31.8% from a year earlier.
Is Ligand Pharmaceuticals profitable?
Yes. Ligand Pharmaceuticals earned $51.5 million of net income over the four quarters to , a net margin of 20.3%, and its operating margin was 9.5% (what margins tell you).
What are LGND’s earnings per share?
LGND’s diluted earnings per share were $2.30 over the four quarters to , compared with $2.03 in the twelve months before. The latest quarter (Q3 FY26) brought −$1.43 per share, against $5.68 a year earlier (how EPS works).
Does LGND pay a dividend?
Ligand Pharmaceuticals hasn’t paid a dividend in the last twelve months.
What is LGND’s 52-week high and low?
Over the past 52 weeks LGND has traded as low as $175.89 and as high as $326.63. At $306.20 at the close on , it is 6.3% below that high and 74.1% above the low.
What is LGND’s all-time high?
LGND’s highest closing price was $322.75 on , adjusted for stock splits. At $306.20 at the close on , it is 5.1% below that record.
Has LGND stock ever split?
Yes, once: 1-for-6 on .
How has LGND stock performed?
Including dividends and measured to the close on , LGND has returned +62.0% so far this year and +47.1% over the past year, and +99.9% over five years (+14.9% a year). Over the same periods the S&P 500, measured by SPY, returned +8.7%, +10.9% and +67.8%. Past performance doesn’t predict future returns.
What sector and industry is Ligand Pharmaceuticals in?
Ligand Pharmaceuticals is in the Healthcare sector and the Biotechnology industry, and is headquartered in California, USA.
What exchange does LGND trade on?
Ligand Pharmaceuticals trades on the Nasdaq under the ticker symbol LGND. Its price history on this dashboard begins on .
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
About this data. Data sourced by Tiingo (opens in a new tab). The live price is Tiingo’s real-time price, based on IEX trades and quotes; intraday charts show IEX trades, and volume figures are consolidated totals for completed sessions. Prices are split-adjusted, and total returns assume dividends are reinvested. Financials come from company filings and can lag new reports. Times are Eastern.
This page is for education, not investment advice. Past performance doesn't predict future returns. Logos provided by Logo.dev (opens in a new tab).
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