Ligand Pharmaceuticals, Inc. (LGND)
NASDAQHealth CareBiotechnologySnapshot 2026-11-05
$299.00-5.42%
Close 2026-11-05 · 1-day change
NASDAQHealth CareBiotechnologySnapshot 2026-11-05
QuarterlyIQ Insights · LGND
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within health care on a research-validated quality screen. As of 2026-11-05.
The screen ranks LGND against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 4 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated strong grew net income 53% of the time over the next year (vs 42% for the rest of the cohort, n=10089).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Document Ligand Reports Third Quarter 2026 Financial Results Third-quarter royalty revenue up 51% year-over-year to $70.3 million Raises Full-Year 2026 Adjusted Diluted EPS Guidance to $9.50 to $9.75…
Stated in 4 of 4 supplied quarters. Management reported: “Document Ligand Reports Third Quarter 2026 Financial Results Third-quarter royalty revenue up 51% year-over-year to $70.3 million Raises Full-Year 2026 Adjusted Diluted EPS Guidance to $9.50 to $9.75, from $9.00 to $9.50 1 ; Reaffirms Revenue Guidance Conference call begins at 8:30 a.m.” Revenue was $78.746 million in 2026-Q3.
“Document Ligand Reports Third Quarter 2026 Financial Results Third-quarter royalty revenue up 51% year-over-year to $70.3 million Raises Full-Year 2026 Adjusted Diluted EPS Guidance to $9.50 to $9.75…”
“Ligand continues to expect the following: • Full-year 2026 royalty revenue to be in the range of $225 million to $250 million • Revenue from sales of Captisol is unchanged at $35 million to $40 milli…”
“The Company continues to expect adjusted earnings per diluted share 1 of approximately $8.50 to $9.50 and full-year 2026 royalty revenue to be in the range of $225 million to $250 million.”
“Ligand also expects 2026 royalty revenue to be in the range of $200 million to $225 million, revenue from sales of Captisol to be in the range of $35 million to $40 million and contract revenue to be…”
“We also continued to put capital to work in differentiated assets, acquiring a royalty interest in Santen’s Ryjunea and entering into a structured financing agreement with AvenCell Therapeutics to a…
Stated in 3 of 4 supplied quarters. Management reported: ““We also continued to put capital to work in differentiated assets, acquiring a royalty interest in Santen’s Ryjunea and entering into a structured financing agreement with AvenCell Therapeutics to advance its next-generation CAR-T pipeline.” “Shortly after quarter-end, we closed our acquisition of XOMA Royalty, adding more than 120 commercial, clinical and preclinical-stage assets to our portfolio and further diversifying our royalty base across therapeutic areas, development stages, and partners.”
As of September 30, 2026, including its equity investments and availability under its credit facility, Ligand has approximately $750 million of deployable capital available to pursue additional royal…
Stated in 2 of 4 supplied quarters. Management reported: “As of September 30, 2026, including its equity investments and availability under its credit facility, Ligand has approximately $750 million of deployable capital available to pursue additional royalty acquisitions and strategic investments.” ““During the quarter, we also completed a $700 million convertible debt financing at a 0% interest rate, giving us access to low cost capital while maintaining a disciplined capital structure.”
Ligand now expects the following: • Royalty revenue of $225 million to $250 million (unchanged) • Captisol sales of $35 million to $40 million (unchanged) • Contract revenue of $10 million to $20 mil…
Stated in 3 of 4 supplied quarters. Management reported: “Ligand now expects the following: • Royalty revenue of $225 million to $250 million (unchanged) • Captisol sales of $35 million to $40 million (unchanged) • Contract revenue of $10 million to $20 million (unchanged) • Total revenue of $270 million to $310 million (unchanged) • Adjusted earnings per diluted share 2 of approximately $9.50 to $9.75, raised from approximately $9.00 to $9.50 Third Quarter Corporate Highlights On July 14, 2026, Ligand completed the acquisition of XOMA Royalty, a biotechnology royalty aggregator.”
Drive royalty growth across the portfolio while maintaining the stated 2026 total revenue and royalty revenue outlook and updating adjusted EPS guidance as reported.
Over the trailing year it converted 1.03x of net income into operating cash flow. Historically, Health Care names rated neutral grew net income 52% of the time over the next year (vs 44% for the rest of the cohort, n=3371).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity (low R² over the window).
23 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Health Care names rated volatile grew net income 45% of the time over the next year (vs 45% for the rest of the cohort, n=10076).
Not investment advice. As of 2026-11-05.
““We also continued to put capital to work in differentiated assets, acquiring a royalty interest in Santen’s Ryjunea and entering into a structured financing agreement with AvenCell Therapeutics to a…”
“Shortly after quarter-end, we closed our acquisition of XOMA Royalty, adding more than 120 commercial, clinical and preclinical-stage assets to our portfolio and further diversifying our royalty base…”
““In April, we announced a definitive agreement to acquire XOMA Royalty Corporation (“XOMA Royalty” or “XOMA”), a highly complementary business that we expect to accelerate both near and long-term gro…”
“As of September 30, 2026, including its equity investments and availability under its credit facility, Ligand has approximately $750 million of deployable capital available to pursue additional royal…”
““During the quarter, we also completed a $700 million convertible debt financing at a 0% interest rate, giving us access to low cost capital while maintaining a disciplined capital structure.”
“Ligand now expects the following: • Royalty revenue of $225 million to $250 million (unchanged) • Captisol sales of $35 million to $40 million (unchanged) • Contract revenue of $10 million to $20 mil…”
“2026 Financial Guidance Update Ligand is reaffirming its 2026 full-year revenue guidance and is raising the low end of its adjusted earnings per diluted share guidance range, reflecting stronger than…”
“The previously announced increase to guidance is entirely attributable to the anticipated partial-year contribution from XOMA and reflects: (i) incremental royalty revenue of approximately $25 millio…”