Ligand Pharmaceuticals Incorporated (LGND) Fair Value & Analysis
Healthcare · US · Market cap $6.5B
Ligand Pharmaceuticals Incorporated
LGND · US
Fair value as of: Jul 11, 2026
From 26 valuation models · updated 29 days ago
Share price −6.9% over the past month.
A solid business, but screening 84% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($109.48). The favourable scenario is already priced in.
- The model range is unusually wide ($29.84 to $109.48). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.
How to read this chart
60‑month range $46.49 – $322.61 · fair‑value band $29.84 – $109.48 · the $293.15 price screens above the $47.37 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.
Analysis
Ligand Pharmaceuticals Incorporated (LGND) currently trades at $293.15, while our model-based Fair Value estimate is $47.37, implying the stock looks roughly 83.8% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Ligand Pharmaceuticals Incorporated generated revenue of $274M at a net margin of 56.0%. Revenue grew 14.1% year over year. It earns a return on equity of 17.1%. Net debt stands at $277M. Fundamentals as of Jul 11, 2026
Our scenario range runs from $29.84 (bear case) to $109.48 (bull case); at $293.15, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 183% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -84%, LGND screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings ($169.17) versus Dividend Discount ($3.78). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 82
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, develops and licenses biopharmaceutical assets worldwide.
Full company description
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, develops and licenses biopharmaceutical assets worldwide. It offers Pradefovir, Posaconazole, Voriconazole, CAPVAXIVE, NOXAFIL, MenFive, and ZELSUVMI for infectious disease; EVOMELA and KYPROLIS for multiple myeloma; FILSPARI for the treatment of immunoglobulin a nephropathy; PNEUMOSIL, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia in children; and QARZIBA to treat neuroblastoma. The company also provides Teriparatide injection product for osteoporosis; RYLAZE, a recombinant erwinia asparaginase for acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; TZIELD, a CD3-directed antibody indicated to delay the onset of Stage 3 type 1 diabetes in adults and children aged 8 years and older with Stage 2 T1D; and VAXNEUVANCE for the prevention of invasive disease caused by streptococcus pneumoniae serotypes. In addition, it offers Duavee for menopause; Frovatriptan to treat Neurology; FYCOMPA and SESQUIENT for CNS; MEKINIST for cardiology; Nexterone, a captisol-enabled formulation of amiodarone; VEKLURY, an antiviral treatment for COVID-19; and Viviant for osteoporosis. Further, the company develops ACLX-002, Ciforadenant, UGN-301, Viright, MB07133, BOT/BAL, and Lasofoxifene for oncology; Ensifentrine for respiratory disease; QTORIN for rare disease; Sparsentan for kidney disease; VK2809 for hepatology; ANEB-001 for acute cannabinoid intoxication; Reproxalap for opthamology; VK0214 for Rare Disease; and VK5211 for musculoskeletal disorder. The company was incorporated in 1987 and is based in Jupiter, Florida.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ligand Pharmaceuticals Incorporated reported revenue of $268M in FY2025 versus $242M in FY2021, a compound +2.6%/yr. Reported net income was $124M in FY2025, compounding +21.5%/yr from FY2021.
LGND screens 84% overvalued. Compare with Vertex Pharmaceuticals Incorporated →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Ligand to Report Second Quarter 2026 Financial Results on August 6, 2026
- Ligand resumed at buy at Citi with acquisition of XOMA Royalty
- Ligand Pharmaceuticals (LGND) Stock Looks Undervalued On Cash Flow Yet Overvalued On Earnings
- XOMA Royalty Announces Closing of Its Acquisition by Ligand
Peer Group
Biotechnology · 603 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Biotechnology median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vertex Pharmaceuticals Incorporated VRTX | $486.03 | $278.78 | -43% |
| Regeneron Pharmaceuticals, Inc REGN | $664.45 | $594.40 | -11% |
| Samsung Biologics Co 207940 | 1,368,000 KRW | 1,091,384 KRW | -20% |
| Celltrion, Inc 068270 | 175,800 KRW | 76,325 KRW | -57% |
| WuXi Biologics (Cayman) Inc 2269 | HK$39.54 | HK$30.42 | -23% |
| Innovent Biologics, Inc 1801 | HK$86.70 | HK$19.66 | -77% |
| Sino Biopharmaceutical Limited 1177 | HK$5.26 | HK$3.36 | -36% |
| ALTEOGEN Inc 196170 | 276,500 KRW | 44,444 KRW | -84% |
| RemeGen Co 688331 | ¥134.02 | ¥26.99 | -80% |
| Biocon Limited BIOCON | ₹440.70 | ₹57.36 | -87% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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