LIGAND PHARMACEUTICALS INC(LGND)— Stock Profile, AI Score & Financials
Healthcare · Nasdaq · AI-powered stock analysis, 32-signal quality score, SEC EDGAR financials, and institutional holdings. Updated .
LIGAND PHARMACEUTICALS INC (LGND) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores LGND at 76.0/100 on a 32-signal composite quality model, placing it at rank #91 of 2,960 stocks — the top 5% of the AI-ranked universe. LGND scores in the top quartile across profitability (99.0), revenue growth (93.3), free cash flow (93.3). Areas of concern include revenue scale (28.8), which score below median versus the broader universe. Shareholder dilution risk is elevated at 10.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), LIGAND PHARMACEUTICALS INC reports quarterly revenue of $63.7M, net income of $48.5M, free cash flow of $24.0M. Top institutional holders of LGND by reported 13-F value include BlackRock, Invesco Ltd., VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. LGND trades on the Nasdaq exchange and files with the SEC under CIK 886163. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate LGND daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for LIGAND PHARMACEUTICALS INC directly from SEC EDGAR.
AI Quality Score
76.0/100
AI Rank
#91
Revenue
$63.7M
Net Income
$48.5M
Free Cash Flow
$24.0M
LGND key financials by period
LIGAND PHARMACEUTICALS INC reported revenue, net income and margins by fiscal period, from SEC filings.
Period
Form
Revenue
Net income
Operating margin
FY 2025
10-K
$268.1M
$124.5M
15.3%
FY 2024
10-K
$167.1M
$-4.0M
-13.5%
FY 2023
10-K
$131.3M
$52.2M
9.1%
FY 2022
10-K
$196.2M
$-33.4M
1.6%
FY 2021
10-K
$241.5M
$57.1M
43.0%
FY 2020
10-K
$163.6M
$-3.0M
22.9%
Institutions holding LGND
Institutional investors reporting a position in LIGAND PHARMACEUTICALS INC on SEC Form 13F.
AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Total revenue and income rose 34% to $63.7M on Filspari-led royalty growth of 32% to $48.0M, alongside a $700M 0.00% convertible note issuance.
Biggest Revenue Drivers
Royalties$48.0M+32% YoY
Primarily attributable to royalties earned on Filspari, Zelsuvmi, and Ohtuvayre
Captisol$8.0M-4% YoY
Primarily attributable to the timing of customer orders
Biggest Revenue Drivers
Total revenue: $63.7M+34% YoY
Royalties$48.0M+32% YoY
Primarily attributable to royalties earned on Filspari, Zelsuvmi, and Ohtuvayre
Within Royalties
Filspari$13.6M
9.0% effective royalty rate on $151.1M estimated partner product sales; FDA approved Filspari for FSGS in April 2026
Kyprolis$7.0M
2.1% effective royalty rate on $339.0M estimated partner sales, down from $398.0M a year ago
Captisol$8.0M-4% YoY
Primarily attributable to the timing of customer orders
Contract revenue and income$7.7M+161% YoY
Primarily attributable to the timing of milestone events under partner agreements
Largest Expense Items
General and administrative$29.1M+44% YoY
XOMA Acquisition transaction costs plus higher employee costs, headcount and share-based compensation
Research and development$14.7M+123% YoY
Driven by the $12.3M research and development funding arrangement with Orchestra BioMed
Amortization of intangibles$8.1M-2% YoY
Deconsolidation of LNHC, Inc. on July 1, 2025 in connection with the Pelthos Transaction
Cost of Captisol$3.2M+11% YoY
Lower gross margins resulting from changes in the mix of customers served during the period
Margins: Operating costs rose to 87% of revenue from 82% a year ago, as G&A and R&D outgrew revenue; Captisol cost rose 11% on lower gross margins from customer mix.
Watch Items from the Filing
Convertible debt reached $1.16B principal ($700M 2031 Notes plus $460M 2030 Notes); amended covenant requires minimum $100M consolidated EBITDA rising to $150M from Q2 2027.
XOMA Royalty acquisition closed July 14, 2026 at $39.00 cash per share plus a CVR, funded with cash on hand; management flags integration risk.
Legacy royalties decelerating: Kyprolis fell to $7.0M from $8.8M and Vaxneuvance to $1.4M from $2.6M year over year.
Litigation initiated against Viking over TR-Beta Program termination; Viking cross-complained, and Ligand cannot estimate the potential outcome or losses.
New risk factor: licensees may buy down or buy out royalty obligations for amounts less than the net present value of future royalties.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
