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Ligand Pharmaceuticals Inc (LGND)

Ligand Pharmaceuticals Inc brought in $290.5M of revenue over the twelve months to June 30, 2026, up 54.9% from a year earlier. Net income was $197.2M, a net margin of 67.9%. Operating cash flow minus capital spending left $48.9M of free cash flow in fiscal 2025. At June 30, 2026 it held $1B in cash against $1.1B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 7, 2026.

Watch LGND in 60 seconds
Price
$314.10
+4.17% on the day · September 28, 2026
52-week range $166.10 to $326.63
Market cap
$6.3B
Revenue (last 12 months)
$290.5M
+54.9% year on year
Net margin
67.9%
P/E
51.2
on FY2025 diluted EPS

What Ligand Pharmaceuticals Inc does

Ligand Pharmaceuticals Inc is registered with the SEC under industry code SIC 2834 (Pharmaceutical Preparations). Its shares trade on NASDAQ under the ticker LGND.

Revenue and profit by year

Revenue
FY18: $251.5M $251.5M FY18FY19: $120.3M $120.3M FY19FY20: $163.6M $163.6M FY20FY21: $241.5M $241.5M FY21FY22: $196.2M $196.2M FY22FY23: $131.3M $131.3M FY23FY24: $167.1M $167.1M FY24FY25: $268.1M $268.1M FY25
Net income
FY18: $143.3M $143.3M FY18FY19: $629.3M $629.3M FY19FY20: -$3M -$3M FY20FY21: $57.1M $57.1M FY21FY22: -$33.4M -$33.4M FY22FY23: $52.2M $52.2M FY23FY24: -$4M -$4M FY24FY25: $124.5M $124.5M FY25

Fiscal years as reported in annual reports. Amounts in USD.

Key figures

Fiscal yearRevenueOperating incomeNet incomeDiluted EPSFree cash flow
2025$268.1M$41M$124.5M$6.13$48.9M
2024$167.1M-$22.6M-$4M-$0.22$95.2M
2023$131.3M$11.9M$52.2M$2.94$46.1M
2022$196.2M$3M-$33.4M-$1.98$119.9M
2021$241.5M$103.9M$57.1M$3.31$70M
2020$163.6M$37.5M-$3M-$0.18$50.1M

Full financial statements: income, balance sheet and cash flow

Next report expected around November 5, 2026.

Estimated from its filing rhythm: about 91 days after its last report of August 6, 2026, its usual gap. Not a date the company has announced. See the report calendar

Where LGND ranks in Health care

Revenue$268.1M
#248 of 742 in Health care · Top 33%
Revenue growth+60.4%
#77 of 529 in Health care · Top 14%
Net margin46.4%
#16 of 541 in Health care · Top 3%
Free cash flow margin18.2%
#71 of 488 in Health care · Top 14%

Latest fiscal year of every company in the sector with the figure reported. Revenue is ranked among companies reporting in US dollars; growth and margins among companies with at least 10 million of revenue. Health care

Dividends

Ligand Pharmaceuticals Inc declared $2.50 per share in fiscal 2007.

Fiscal yearPer sharePaid outOf profit
2007$2.50n/an/a

Per share as declared (or paid, where only that is reported), adjusted for stock splits the company itself restated. Yield is the latest fiscal year's dividend over the current price.

Latest SEC filings

What Ligand Pharmaceuticals Inc has filed recently, newest first. Each links to the original document on SEC EDGAR.

  1. September 24, 2026
  2. September 22, 2026
  3. September 2, 2026
  4. August 7, 2026
    Quarterly report 10-Q · period to June 30, 2026Revenue rose 34% to $63.7M versus the same quarter last year; diluted EPS $2.22 versus $0.24.
  5. August 6, 2026
  6. July 22, 2026
  7. July 14, 2026
  8. June 25, 2026
  9. June 22, 2026
  10. June 9, 2026

Recent insider filings (Forms 3, 4 and 144): 10, the latest on September 24, 2026. Insider transactions on SEC

What is LGND worth? A DCF from its reported cash flow

Insider trades

What the people running Ligand Pharmaceuticals Inc did with its shares, from the Form 4 filings they must send the SEC within two business days.

Insiders sold $16.1M worth of shares in the last 90 days and bought none on the open market. Most of the selling (85%) was pre-planned under Rule 10b5-1 trading plans.

Bought (open market)
$0
last 90 days
Sold
$16.1M
last 90 days
Net sold
54,979
$16.1M
DateInsiderWhatSharesPriceValueFiling
September 22, 2026 Zimmermann MartineDirector Shares withheld for tax 115 $298.50 $34.3K Form 4
September 10, 2026 Zimmermann MartineDirector Sold 1,200 $285.00 $342K Form 4
September 3, 2026 Reardon AndrewCLO & Secretary Soldpre-planned (10b5-1) 300 $283.99 $85.2K Form 4
September 3, 2026 Reardon AndrewCLO & Secretary Soldpre-planned (10b5-1) 1,800 $285.17 $513.3K Form 4
September 3, 2026 Reardon AndrewCLO & Secretary Soldpre-planned (10b5-1) 2,115 $286.36 $605.6K Form 4
September 3, 2026 Reardon AndrewCLO & Secretary Soldpre-planned (10b5-1) 385 $287.53 $110.7K Form 4
September 3, 2026 Reardon AndrewCLO & Secretary Soldpre-planned (10b5-1) 400 $288.98 $115.6K Form 4
August 12, 2026 Haas JasonDirector Exercised options 6,138 $51.56 $316.5K Form 4
August 12, 2026 Haas JasonDirector Sold 7,138 $292.81 $2.1M Form 4
August 12, 2026 Espinoza OctavioChief Financial Officer Exercised options 16,179 $52.84 $854.9K Form 4
August 12, 2026 Espinoza OctavioChief Financial Officer Exercised options 2,074 $70.04 $145.3K Form 4
August 12, 2026 Espinoza OctavioChief Financial Officer Exercised options 2,869 $55.75 $159.9K Form 4
August 12, 2026 Espinoza OctavioChief Financial Officer Exercised options 7,171 $57.22 $410.3K Form 4
August 12, 2026 Espinoza OctavioChief Financial Officer Exercised options 3,348 $68.74 $230.1K Form 4
August 12, 2026 Espinoza OctavioChief Financial Officer Soldpre-planned (10b5-1) 31,641 $292.07 $9.2M Form 4

All insider filings on SEC.gov · Where insiders are buying across the market

Who owns LGND

Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.

5% holders

Anyone who owns more than 5% of a class of shares must say so on Schedule 13D (if they may seek to influence the company) or 13G (a passive holder). The latest filing of each holder is shown: 13G filings of the last 2 years, 13D of the last 3.

HolderOf classSharesFiled
Vanguard Portfolio Management13G, passive 5.56% 1,109,154 May 1, 2026
Janus Henderson Group PLC13G, passive 5.3% 1,042,378 November 14, 2025
Vanguard Capital Management13G, passive 5% 997,637 May 1, 2026

Latest filings below 5%: The Vanguard Group 0% (March 27, 2026); The Goldman Sachs Group, Inc. ------------------------------------------------------------------------------ 0.3% (November 8, 2024); Macquarie Group Limited 4.86% (November 1, 2024).

Largest institutional holders

No Form 13F positions imported for this company yet.

Insiders

Reported holdings of insiders who filed a Form 4 in the last 12 months: the shares each one held after their latest reported transaction. This is not the total held by all insiders.

10 insiders reported holding 486,216 shares in total, about $152.7M at the last price.

HolderSharesAs of
Davis Todd CChief Executive Officer, Director 199,513 June 30, 2026
Aryeh JasonDirector 102,580 June 11, 2026
Kozarich John WDirector 42,622 June 5, 2026
Reardon AndrewCLO & Secretary 36,514 September 3, 2026
Sabba Stephen LDirector 33,629 June 16, 2026
Espinoza OctavioChief Financial Officer 27,696 August 12, 2026
Lamattina John LDirector 26,969 June 10, 2026
Gray Nancy RyanDirector 8,930 June 5, 2026
Haas JasonDirector 3,981 August 12, 2026
Zimmermann MartineDirector 3,782 September 22, 2026

Schedule 13D/13G filings on SEC.gov

All filings on SEC EDGAR

Questions about LGND

What does Ligand Pharmaceuticals Inc do?

Ligand Pharmaceuticals Inc is registered with the SEC under industry code SIC 2834 (Pharmaceutical Preparations). Its shares trade on NASDAQ under the ticker LGND.

Is Ligand Pharmaceuticals Inc profitable?

Yes. Over the twelve months to June 30, 2026 it reported net income of $197.2M on revenue of $290.5M, a net margin of 67.9%.

How much revenue does Ligand Pharmaceuticals Inc make?

Over the twelve months to June 30, 2026 Ligand Pharmaceuticals Inc reported revenue of $290.5M. That is 54.9% more than a year earlier.

When did Ligand Pharmaceuticals Inc last report?

Its most recent periodic report is the quarterly report (10-Q) filed on August 7, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the investor disclosure from September 24, 2026.

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Where the numbers come from

Financial figures are the values Ligand Pharmaceuticals Inc tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.

Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.