Ligand Pharmaceuticals Incorporated (LGND) reported third-quarter 2026 revenue of $78.7 million, essentially in line with expectations, but profitability weakened sharply from a year earlier.
The company posted a gross profit of $76.1 million and an operating loss of $15.8 million, while net loss attributable to common shareholders widened to $28.5 million. Diluted earnings per share came in at -$1.43, compared with an analyst estimate of $2.43.
Key details from the quarter included:
- Revenue fell 51.4% year over year to $78.7 million
- Gross profit declined 51.9% to $76.1 million
- Operating profit swung to a loss of $15.8 million
- Net income turned to a loss of $28.5 million
- Cash and cash equivalents rose to $1.0 billion
Cash flow also weakened, with operating cash flow negative $27.6 million. Total liabilities increased to $1.3 billion, reflecting a much larger balance sheet burden even as cash holdings remained substantial.
Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.
Ligand Pharmaceuticals Incorporated Insider Trading Activity
Ligand Pharmaceuticals Incorporated insiders have traded $LGND stock on the open market 62 times in the past 6 months. Of those trades, 0 have been purchases and 62 have been sales.
Here’s a breakdown of recent trading of $LGND stock by insiders over the last 6 months:
- OCTAVIO ESPINOZA (Chief Financial Officer) sold 31,641 shares for an estimated $9,241,228
- ANDREW REARDON (CLO & Secretary) has made 0 purchases and 43 sales selling 30,000 shares for an estimated $8,253,979.
- JASON HAAS has made 0 purchases and 3 sales selling 13,599 shares for an estimated $3,741,382.
- JASON ARYEH has made 0 purchases and 2 sales selling 5,000 shares for an estimated $1,250,000.
- JOHN L LAMATTINA has made 0 purchases and 4 sales selling 4,591 shares for an estimated $1,151,774.
- JOHN W KOZARICH has made 0 purchases and 7 sales selling 2,501 shares for an estimated $563,079.
- STEPHEN L SABBA sold 2,145 shares for an estimated $544,830
- MARTINE ZIMMERMANN sold 1,200 shares for an estimated $342,000
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
Ligand Pharmaceuticals Incorporated Hedge Fund Activity
We have seen 226 institutional investors add shares of Ligand Pharmaceuticals Incorporated stock to their portfolio, and 160 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- INVESCO LTD. added 378,040 shares (+45.9%) to their portfolio in Q2 2026, for an estimated $119,494,663
- NEUBERGER BERMAN GROUP LLC added 246,893 shares (+16887.3%) to their portfolio in Q2 2026, for an estimated $78,040,408
- SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 193,238 shares (+inf%) to their portfolio in Q2 2026, for an estimated $61,080,599
- FRANKLIN RESOURCES INC added 178,867 shares (+31.2%) to their portfolio in Q2 2026, for an estimated $56,538,070
- FMR LLC added 166,700 shares (+28.0%) to their portfolio in Q2 2026, for an estimated $52,692,202
- BLACKROCK, INC. added 139,073 shares (+4.7%) to their portfolio in Q2 2026, for an estimated $43,959,584
- VOYA INVESTMENT MANAGEMENT LLC added 123,715 shares (+3686.4%) to their portfolio in Q2 2026, for an estimated $39,105,074
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Ligand Pharmaceuticals Incorporated Congressional Stock Trading
Members of Congress have traded $LGND stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $LGND stock by members of Congress over the last 6 months:
- REPRESENTATIVE GILBERT RAY CISNEROS, JR. purchased up to $15,000 on 05/29.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.
Ligand Pharmaceuticals Incorporated Price Targets
Multiple analysts have issued price targets for $LGND recently. We have seen 3 analysts offer price targets for $LGND in the last 6 months, with a median target of $332.0.
Here are some recent targets:
- Jason Zemansky from B of A Securities set a target price of $388.0 on 07/09/2026
- Annabel Samimy from Stifel set a target price of $332.0 on 07/08/2026
- Douglas Miehm from RBC Capital set a target price of $262.0 on 05/08/2026
