Ligand Pharmaceuticals (LGND) News Today

Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) shares are getting support from a mix of upbeat analyst commentary and the company’s first-quarter update, even after the latest earnings report came in below expectations.

• Positive Sentiment: Royal Bank of Canada raised its price target on Ligand Pharmaceuticals to $262 from $252 and kept an outperform rating, implying further upside from current levels. Royal Bank Of Canada raises Ligand price target
• Positive Sentiment: HC Wainwright reiterated a Buy rating and a $289 price target, while also forecasting strong earnings growth into 2026 and 2027, which may be reinforcing bullish sentiment in LGND shares.
• Positive Sentiment: Ligand reported first-quarter results showing 56% year-over-year royalty revenue growth and reaffirmed its previously raised 2026 guidance, helped by anticipated contribution from the pending XOMA Royalty acquisition. Ligand Reports First Quarter 2026 Financial Results
• Neutral Sentiment: Ligand’s Q1 earnings snapshot highlighted mixed results: EPS of $1.63 missed the $1.84 consensus and revenue of $51.72 million also fell short of estimates, though sales still grew 14.1% year over year. Ligand: Q1 Earnings Snapshot

Bottom line: LGND is likely moving higher because investors are focusing on strong royalty growth, reaffirmed guidance, and fresh analyst upgrades/price-target increases, which appear to outweigh the earnings miss.