Ligand Pharmaceuticals (NASDAQ:LGND) Sets New 52-Week High - Still a Buy?

Key Points

• New 52-week high: Ligand shares traded as high as $247.38 (last $238.29) amid mostly positive analyst coverage—seven Buys and one Hold—yielding a consensus "Moderate Buy" and an average price target of $247.29 (Citigroup at $282).
• Strong quarter: The company beat expectations with EPS of $2.02 vs. $1.46 and revenue up 39.5% year-over-year, and issued FY2026 guidance of $8.00–$9.00 EPS, although some sell-side estimates for the current year sit nearer $5.47.
• Insider selling vs. institutional ownership: Insiders sold about 30,915 shares (~$6.39M) in the past 90 days even as institutional investors own ~91.3% of the stock and insiders hold roughly 7%.

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $247.38 and last traded at $238.2860, with a volume of 48565 shares changing hands. The stock had previously closed at $231.27.

Wall Street Analyst Weigh In

LGND has been the topic of several research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Ligand Pharmaceuticals in a research note on Monday, December 29th. HC Wainwright upped their price objective on Ligand Pharmaceuticals from $239.00 to $243.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Bank of America initiated coverage on Ligand Pharmaceuticals in a research note on Wednesday, March 11th. They issued a "buy" rating and a $244.00 price objective on the stock. Citigroup upped their price objective on Ligand Pharmaceuticals from $276.00 to $282.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen downgraded Ligand Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Ligand Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $247.29.

Ligand Pharmaceuticals Stock Up 2.1%

The company has a quick ratio of 21.98, a current ratio of 22.23 and a debt-to-equity ratio of 0.44. The company has a market cap of $4.73 billion, a PE ratio of 40.46, a P/E/G ratio of 2.55 and a beta of 1.14. The stock has a 50-day moving average of $206.18 and a 200-day moving average of $198.18.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The biotechnology company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.56. Ligand Pharmaceuticals had a return on equity of 13.86% and a net margin of 46.42%.The company had revenue of $59.67 million for the quarter, compared to the consensus estimate of $55.59 million. During the same quarter last year, the business posted $1.27 earnings per share. The firm's revenue was up 39.5% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2026 guidance at 8.000-9.000 EPS. Sell-side analysts predict that Ligand Pharmaceuticals Incorporated will post 5.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John W. Kozarich sold 467 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $202.23, for a total value of $94,441.41. Following the sale, the director owned 42,253 shares in the company, valued at approximately $8,544,824.19. This trade represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Octavio Espinoza sold 3,057 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $225.00, for a total value of $687,825.00. Following the completion of the sale, the chief financial officer owned 21,010 shares in the company, valued at $4,727,250. This trade represents a 12.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 30,915 shares of company stock worth $6,385,917. 7.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL purchased a new stake in Ligand Pharmaceuticals during the third quarter valued at about $2,789,955,000. State Street Corp raised its position in Ligand Pharmaceuticals by 3.1% during the second quarter. State Street Corp now owns 749,754 shares of the biotechnology company's stock valued at $85,232,000 after purchasing an additional 22,629 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Ligand Pharmaceuticals by 59.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 541,845 shares of the biotechnology company's stock valued at $95,982,000 after purchasing an additional 202,103 shares in the last quarter. Invesco Ltd. raised its position in Ligand Pharmaceuticals by 36.5% during the fourth quarter. Invesco Ltd. now owns 516,464 shares of the biotechnology company's stock valued at $97,648,000 after purchasing an additional 138,169 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Ligand Pharmaceuticals by 115.9% during the fourth quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company's stock valued at $93,809,000 after purchasing an additional 266,304 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company's product offerings center around several core platforms.

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