Ligand Pharmaceuticals Incorporated logo LGND - Ligand Pharmaceuticals Incorporated

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 12
HOLD 4
SELL 1
STRONG
SELL
0
| PRICE TARGET: $267.75 DETAILS
HIGH: $289.00
LOW: $252.00
MEDIAN: $265.00
CONSENSUS: $267.75
UPSIDE: 16.75%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Revenue
Revenue 268.1 167.1 131.3 196.2 241.5 163.6 120.3 251.5 141.1 109.0 71.9 64.5 49.0 31.4 30.0 23.5 38.9 27.3 12.9 141.0 176.6 163.5 141.1 96.6 76.3 48.1 40.9 17.7 51.7 36.8 24.5 13.3
Cost of Revenue 6.6 11.1 35.0 52.8 62.2 30.4 11.3 6.3 5.4 5.6 5.8 9.1 5.7 3.6 4.9 0 15.2 0 0 22.6 39.8 39.8 31.6 20.3 13.9 1.6 3.1 (7.7) (9.8) (9.4) (3.7) 24.7
Gross Profit 261.5 156.1 96.3 143.4 179.4 133.1 108.9 245.1 135.7 103.4 66.1 55.4 43.2 27.8 25.1 23.5 23.7 27.3 12.9 118.3 136.8 123.7 109.5 76.3 62.4 46.5 37.8 25.4 61.5 46.2 28.2 (11.4)
Operating Expenses
R&D Expenses 81.2 21.4 24.5 36.1 32.1 40.5 55.9 27.9 26.9 21.2 13.4 12.1 9.3 10.8 10.3 22.1 39.9 30.8 44.6 41.9 56.1 65.2 67.7 58.8 51.1 51.3 59.4 70.7 72.4 59.5 41.4 0
SG&A Expenses 92.4 78.7 52.8 70.1 46.8 60.0 41.9 37.7 28.7 26.6 24.4 22.6 18.0 16.1 15.0 29.7 15.2 23.8 30.4 248.3 107.2 95.9 61.0 41.7 34.4 34.1 27.3 16.6 10.1 10.2 8 7
Other Expenses 40.7 78.6 7.0 34.2 (3.4) (4.9) (795.9) 15.8 12.1 10.6 0 0 0 0 0 0 0 (2.0) (2.0) (3.1) 0 0 0 0 0 7.0 7.4 7.7 9.8 9.4 3.7 2.5
Operating Expenses 214.3 178.7 84.3 140.4 75.5 95.6 (698.1) 81.4 67.7 58.5 37.8 34.7 27.3 26.9 25.3 51.8 70.3 52.6 73.1 287.1 163.2 161.1 128.7 100.5 85.5 92.4 94.1 95 92.3 79.1 53.1 9.5
Operating Income
Operating Income 47.2 (22.6) 11.9 3.0 103.9 37.5 807.1 163.7 68.1 43.9 27.3 19.6 14.9 0.6 (0.7) (29.3) (10.0) (97.3) (60.2) (168.8) (26.5) (37.4) (19.2) (24.2) (23.1) (45.9) (56.3) (69.6) (30.8) (32.9) (24.9) (20.9)
Interest Expense 0 3.0 0.7 1.8 19.6 27.4 35.7 48.3 11.4 12.2 11.8 4.9 2.1 3.3 2.5 0.1 0.3 0.2 0.7 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 8.9 8.1 7.7 2.0 0.9 8.1 28.4 14.0 0 0 0 0 0 0.4 0.0 0.4 0.6 2.2 8.7 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 192.7 40.8 100.8 81.2 142.8 56.7 876.1 238.3 81.2 55.2 30.0 23.4 18.6 3.9 1.7 (13.1) (6.5) (96.3) (50.1) (61.9) (26.5) (18.3) (59.7) (35.1) (16.6) (38.6) (54.2) (65.1) (21) (23.5) (21.2) (18.4)
EBIT 159.0 5.6 64.3 37.8 91.8 28.7 832.4 221.6 68.6 20.8 27.3 20.7 16.0 1.2 0.3 (15.3) (9.6) (97.3) (52.7) (78.1) (43.6) (15.4) (74.0) (43.9) (23.1) (45.9) (61.3) (69.6) (30.8) (32.9) (24.9) (20.9)
Income Before Tax 159.0 2.5 63.7 36.0 72.2 1.3 796.6 173.3 57.2 8.0 35.3 11.3 9.2 (3.9) (2.9) (15.4) (9.9) (97.5) (53.5) (174.3) 36.3 (44.9) (37.5) (32.6) (31.5) (46.7) (62) (112.6) (92.1) (29.2) (58.7) (26.4)
Income Tax Expense 34.5 6.5 9.8 41.2 (4.1) (5.3) 167.3 30.0 44.7 10.3 (219.6) 0.4 0.4 (1.2) (13.1) (2.6) (7.9) (0.1) (18.7) (38.4) 0.1 0.2 18.3 8.4 19.9 26.5 18.4 48.3 69.4 4.4 39.3 6.2
Net Income 124.5 (4.0) 52.2 (33.4) 57.1 (3.0) 629.3 143.3 12.6 (1.6) 257.3 12.0 11.4 (0.5) 10.2 (12.5) (1.9) (98.1) 281.7 (31.7) (36.4) (45.1) (37.5) (32.6) (43.0) (72.4) (74.7) (117.9) (100.2) (37.3) (64.2) (27.1)
Per Share Data
EPS (Basic) 6.44 -0.22 3.02 -1.98 3.46 -0.18 33.13 5.96 0.60 -0.08 13.00 0.59 0.56 -0.03 0.52 -0.64 -0.10 -6.16 17.22 -2.36 -2.95 -3.68 -3.18 -2.83 -4.34 -7.80 -9.51 -17.51 -18.15 -7.78 -17.19 -9.42
EPS (Diluted) 6.13 -0.22 2.94 -1.98 3.34 -0.18 31.85 5.96 0.53 -0.08 12.12 0.56 0.55 -0.03 0.52 -0.64 -0.10 -6.16 17.22 -2.36 -2.95 -3.68 -3.18 -2.83 -4.34 -7.80 -9.51 -17.51 -18.15 -7.78 -17.19 -9.42
Shares Outstanding 19.3 18.3 17.3 16.9 16.6 16.2 19.0 24.0 21.0 20.8 19.8 20.4 20.3 19.1 19.7 19.6 18.9 15.9 16.4 13.4 12.3 12.3 11.8 11.5 9.9 9.3 7.9 6.7 5.5 4.8 3.7 2.9
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Current Assets
Cash & Cash Equivalents 174.9 72.3 23.0 45.0 19.5 47.6 71.5 718.4 201.7 141.0 16.0 28.8 92.3 59.0 42.4 20.7 9.2 29.9 32.8 62.3 34.8 16 7.6
Short-Term Investments 558.6 183.9 147.4 166.9 321.6 363.6 998.3 46.2 0 0 37.2 51.9 20.2 40.0 21.8 16.9 14.4 17.3 0 0 0 0 0
Net Receivables 61.0 42.4 39.3 35.0 91.6 59.1 41.7 55.9 25.6 18.2 10.4 12.1 30.8 19.1 7.4 9.8 12.8 1.7 0 0 3.1 2.3 1.2
Inventory 9.1 14.1 24.0 13.3 27.3 26.5 7.3 7.1 4.4 1.9 (53.2) 1.1 11.8 8.3 4.8 3.8 5.7 5.7 6.2 0 0 0 0
Other Current Assets 28.6 16.9 2.7 2.3 4.7 3.8 4.7 89.2 5.4 0 4.5 0.0 17.7 3.8 7.3 2.3 2.5 2.1 39 21.8 47.5 54.7 32.8
Total Current Assets 832.3 331.6 237.4 263.6 464.8 500.6 1,123.6 870.5 237.0 163.1 68.2 93.9 172.8 130.2 83.8 53.6 44.6 56.7 78 84.1 85.4 73 41.6
Non-Current Assets
Property, Plant & Equipment 10.8 24.8 25.1 27.5 32.6 37.2 17.6 5.4 4.2 1.8 8.5 12.9 23.6 23.5 9.7 9.7 11.0 20.5 23.7 14.9 11.7 12.3 3.9
Goodwill 101.5 105.2 103.4 105.7 105.7 189.7 95.2 306.4 314.5 276.9 0 5.4 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 422.3 266.6 299.6 352.6 386.8 606.3 230.5 31.5 19.5 25.8 2.5 0 127.4 137.9 0 0 0 0 0 0 0 0 0
Long-Term Investments 183.6 10.9 111.6 3 0 0 0 601.2 6.4 8.3 1.5 0 0 (250.1) 18.1 0 0 0 0 0 0 0 0
Other Non-Current Assets 1.8 202.5 9.9 1.7 272.0 4.3 2.3 (600.7) 4.9 1.7 8.0 59.2 8.6 9.7 159.1 54.2 57.8 57.4 54.3 8.4 5 8.3 1.2
Total Non-Current Assets 728.4 610.2 549.8 499.1 832.8 861.7 371.3 390.3 434 438.5 45.5 77.5 159.6 171.1 186.9 63.9 68.8 77.9 78 23.3 16.7 20.6 5.1
Total Assets 1,560.6 941.8 787.2 762.7 1,297.6 1,362.3 1,494.9 1,260.8 671.0 601.6 113.7 171.4 332.5 301.3 270.6 117.5 113.4 134.6 156 107.4 102.1 93.6 46.7
Current Liabilities
Account Payables 3.2 5.2 2.4 5.3 8.4 3.8 2.4 4.2 2.3 2.7 16.9 14.6 17.4 18.8 12.0 5.4 3.8 5.4 12.4 10.7 4.1 3.9 2.3
Short-Term Debt 1.1 0 0 76.7 0 0 0 26.4 224.5 212.9 0 1.8 2.9 2.5 2.1 5.4 3.5 4.1 3.2 2.8 2.6 2.4 1.3
Deferred Revenue 0 1.9 1.8 1.0 0.7 29.4 2.1 3.3 0.2 0 6.7 12.3 152.5 2.6 4.7 8.7 0 0 0 0 0 0 0
Other Current Liabilities 25.5 (3.2) 4.9 6.3 22.6 49.4 7.6 44.3 1.4 5.1 14.2 18.7 0 (105.7) (4.8) 0 21.1 11.2 11.3 8.2 7.1 9.4 4.5
Total Current Liabilities 37.4 37.1 16.8 98.8 41.7 100.1 17.0 82.2 238.9 227.1 52.2 70.6 216.7 54.0 30.5 31.7 28.4 20.7 26.9 21.7 13.8 15.7 8.1
Non-Current Liabilities
Long-Term Debt 446.2 0 0 0 320.7 442.3 639.0 609.9 18.9 29.6 31.0 47.5 167.1 167.4 155.2 136.8 131.7 136.7 90.5 51.4 54 49.9 12.3
Deferred Tax Liabilities 52.6 32.5 31.6 30.6 30.9 64.6 32.9 52.0 (22.4) (0.4) 0 (16.8) (4.5) 9.8 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 3.0 35.9 17 25.4 80.9 40.1 28.8 7.8 (8.9) (26.0) 16.3 21.4 15.5 6.4 10.8 6.9 8.4 2.8 50 0 (0.2) (0.1) 0
Total Non-Current Liabilities 506.0 74.2 69.5 66.4 434.8 552.6 710.7 617.6 13.5 3.6 57.8 111.2 191.1 176.5 166.1 143.6 140.1 139.5 140.5 51.4 53.8 49.8 12.3
Total Liabilities 543.4 111.3 86.3 165.2 476.4 652.8 727.7 699.9 252.4 230.7 110.0 181.8 407.8 230.5 196.6 175.3 168.5 160.2 167.4 73.1 67.6 65.5 20.4
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0 0 0 0 0
Retained Earnings 608.1 499.0 503.0 450.9 449.1 392.0 400.1 (229.2) (400.9) (431.1) (681.6) (679.6) (794.7) (655.8) (618.3) (585.7) (542.7) (470.3) (395.6) (277.7) (177.6) (140.3) (76.1)
Accumulated Other Comprehensive Income 8.5 (5.9) (0.8) (1.0) (0.9) (0.8) (0.2) (1.0) 2.5 2.7 0.5 0.1 0.2 (0.1) (0.0) (0.7) (2.0) (4.1) (17.8) (14.5) (11) (7.1) (4.4)
Total Stockholders' Equity 1,017.2 830.4 700.9 597.5 821.2 709.5 767.2 560.9 418.6 370.9 3.7 (10.4) (75.3) 70.7 74.0 (57.9) (55.1) (25.6) (11.4) 34.3 34.5 28.1 26.3
Total Liabilities & Equity 1,560.6 941.8 787.2 762.7 1,297.6 1,362.3 1,494.9 1,260.8 671.0 601.6 113.7 171.4 332.5 301.3 270.6 117.5 113.4 134.6 156 107.4 102.1 93.6 46.7
Debt Metrics
Total Debt 451.5 7.1 6.2 87.7 324.4 456.4 650.2 636.3 224.5 212.9 40.9 4.0 174.0 172.5 157.3 142.1 135.2 140.8 93.7 54.2 56.6 52.3 13.6
Net Debt 276.6 (65.2) (16.8) 42.7 304.9 408.8 578.6 (82.1) 22.9 71.9 24.8 (24.7) 81.7 113.5 114.9 121.4 126.0 110.9 60.9 (8.1) 21.8 36.3 6
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Operating Activities
Net Income 124.5 (4.0) 52.2 (33.4) 57.1 (3.0) 629.3 143.3 12.6 (2.4) (36.4) (45.1) (37.5) (32.6) (43.0) (59.3) (74.7) (117.9) (100.2) (37.3) (64.2) (27.1)
Depreciation & Amortization 35.7 35.2 36.5 51.4 50.9 28.0 43.7 14.7 11.7 11.3 18.7 15.3 14.3 10.5 6.6 7.0 7.4 7.7 9.8 9.4 3.7 2.5
Stock-Based Compensation 0 41.1 25.7 60.3 38.8 30.7 24.5 20.8 24.9 18.9 0.1 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (12.7) 19.4 (34.4) 65.7 (52.2) (10.1) (4.2) (38.9) (11.4) (10.6) 26.6 41.2 14.9 (6.8) (0.0) 7.7 (8.7) (1.5) 12.1 (4) 1.4 3.2
Other Non-Cash Items (120.8) 21.2 (42.1) (26.8) (7.3) 28.0 (797.5) 24.3 11.3 35.1 (0.6) (5.6) 8.6 3.8 16.6 (2.8) 15.5 45.1 64.9 (1.4) 21.2 7.1
Operating Cash Flow 49.4 97.0 49.6 137.8 78.8 54.6 (29.3) 194.1 93.6 63.0 8.4 5.8 0.3 (25.1) (19.9) (47.4) (60.5) (66.6) (13.4) (33.3) (37.9) (14.3)
Investing Activities
Capital Expenditure (0.5) (19.6) (53.8) (17.9) (8.8) (4.5) (2.6) (11.9) (7.2) (28.3) (35.6) (3.6) (2.8) (3.2) (2.0) (1.1) (39.5) (2.4) (4.3) (0.4) (0.2) (0.6)
Acquisitions (8.1) (172.2) (25.7) (0.8) 0.5 (383.3) (12.8) (5.9) (26.7) (94.2) 0 0 0 0 0 (0.2) 0 0.1 0.1 0 0 0
Purchases of Investments (730.9) (226.4) (126.8) (51.2) (181.3) (422.5) (2,356.5) (1,434.3) (254.3) (164.4) (29.6) (26.3) (28.0) (13.9) (18.3) (12.0) (21.4) (52.2) (35) (53.1) (17.7) (18.3)
Sales/Maturities of Investments 377.3 269.6 194.2 234.4 221.3 1,038.7 2,030.7 1,024.8 196.6 143.5 31.3 49.7 10.1 18.1 15.8 16.0 41.2 35.2 60.3 61.2 37.2 27.5
Other Investing Activities (4.3) (12.9) (49.9) (0.9) (1.2) 3.3 808.1 3.9 7.3 0.3 0.2 (0.1) (3.9) (106.2) 0.3 11.9 (5.2) (9.3) (16.8) (0.2) 9.3 (7.5)
Investing Cash Flow (377.3) (143.7) (11.7) 163.6 30.5 231.6 466.9 (423.3) (84.2) (143.2) (33.7) 19.6 (24.6) (105.2) (4.2) 14.7 (24.9) (28.6) 4.3 7.5 28.6 1.1
Financing Activities
Net Debt Issuance 338.1 (0.0) (76.9) (261.0) (146.0) (231.8) (27.3) 532.3 0 0 (1.1) 1.5 (1.4) 99.4 8.0 (2.7) 59.6 27 (0.7) 2.4 (1.4) 8.9
Stock Repurchased (15) 0 0 (8.2) (18.4) (78.0) (453.0) (122.9) (2.0) (3.9) 0 0 (15.9) 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (9.8) 60.0 17.0 (6.8) (7.1) (0.8) (0.4) (77.1) (5.6) (1.0) (0.0) (0.2) 8.7 (18.1) (0.9) 0.6 0.6 0.5 0.5 3.3 (2.1) 0
Financing Cash Flow 428.2 97.1 (59.9) (276.0) (137.8) (310.5) (485.2) 328.6 (7.5) 1.5 (0.2) 7.9 41.0 152.0 35.6 12.0 82.5 65.8 36.5 44.7 17.6 19.2
Cash Position
Net Change in Cash 102.6 49.4 (22.1) 25.5 (28.4) (24.3) (47.5) 99.2 1.9 (78.7) (25.6) 33.3 16.6 21.7 11.5 (20.7) (2.9) (29.5) 27.4 18.9 8.3 6
Cash at Beginning 72.3 23.0 45.0 19.5 48.0 72.3 119.8 20.6 18.8 97.4 92.3 59.0 42.4 20.7 9.2 29.9 32.8 62.3 34.8 16 7.6 1.6
Cash at End 174.9 72.3 23.0 45.0 19.5 48.0 72.3 119.8 20.6 18.8 66.8 92.3 59.0 42.4 20.7 9.2 29.9 32.8 62.2 34.9 15.9 7.6
Free Cash Flow 48.9 77.4 (4.3) 119.9 70.0 50.1 (31.9) 182.2 86.4 34.7 (27.2) 2.1 (2.5) (28.3) (21.9) (48.4) (100) (69) (17.7) (33.7) (38.1) (14.9)
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
Income Statement
Revenue 268.1 167.1 131.3 196.2 241.5 163.6 120.3 251.5 141.1 109.0 71.9 64.5 49.0 31.4 30.0 23.5 38.9 27.3 12.9 141.0 176.6 163.5 141.1 96.6 76.3 48.1 40.9 17.7 51.7 36.8 24.5 13.3
Gross Profit 261.5 156.1 96.3 143.4 179.4 133.1 108.9 245.1 135.7 103.4 66.1 55.4 43.2 27.8 25.1 23.5 23.7 27.3 12.9 118.3 136.8 123.7 109.5 76.3 62.4 46.5 37.8 25.4 61.5 46.2 28.2 (11.4)
Operating Income 47.2 (22.6) 11.9 3.0 103.9 37.5 807.1 163.7 68.1 43.9 27.3 19.6 14.9 0.6 (0.7) (29.3) (10.0) (97.3) (60.2) (168.8) (26.5) (37.4) (19.2) (24.2) (23.1) (45.9) (56.3) (69.6) (30.8) (32.9) (24.9) (20.9)
Net Income 124.5 (4.0) 52.2 (33.4) 57.1 (3.0) 629.3 143.3 12.6 (1.6) 257.3 12.0 11.4 (0.5) 10.2 (12.5) (1.9) (98.1) 281.7 (31.7) (36.4) (45.1) (37.5) (32.6) (43.0) (72.4) (74.7) (117.9) (100.2) (37.3) (64.2) (27.1)
EPS (Diluted) 6.13 -0.22 2.94 -1.98 3.34 -0.18 31.85 5.96 0.53 -0.08 12.12 0.56 0.55 -0.03 0.52 -0.64 -0.10 -6.16 17.22 -2.36 -2.95 -3.68 -3.18 -2.83 -4.34 -7.80 -9.51 -17.51 -18.15 -7.78 -17.19 -9.42
Balance Sheet
Cash & Equivalents 174.9 72.3 23.0 45.0 19.5 47.6 71.5 718.4 201.7 141.0 16.0 28.8 92.3 59.0 42.4 20.7 9.2 29.9 32.8 62.3 34.8 16 7.6
Total Assets 1,560.6 941.8 787.2 762.7 1,297.6 1,362.3 1,494.9 1,260.8 671.0 601.6 113.7 171.4 332.5 301.3 270.6 117.5 113.4 134.6 156 107.4 102.1 93.6 46.7
Total Debt 451.5 7.1 6.2 87.7 324.4 456.4 650.2 636.3 224.5 212.9 40.9 4.0 174.0 172.5 157.3 142.1 135.2 140.8 93.7 54.2 56.6 52.3 13.6
Stockholders' Equity 1,017.2 830.4 700.9 597.5 821.2 709.5 767.2 560.9 418.6 370.9 3.7 (10.4) (75.3) 70.7 74.0 (57.9) (55.1) (25.6) (11.4) 34.3 34.5 28.1 26.3
Cash Flow
Operating Cash Flow 49.4 97.0 49.6 137.8 78.8 54.6 (29.3) 194.1 93.6 63.0 8.4 5.8 0.3 (25.1) (19.9) (47.4) (60.5) (66.6) (13.4) (33.3) (37.9) (14.3)
Capital Expenditure (0.5) (19.6) (53.8) (17.9) (8.8) (4.5) (2.6) (11.9) (7.2) (28.3) (35.6) (3.6) (2.8) (3.2) (2.0) (1.1) (39.5) (2.4) (4.3) (0.4) (0.2) (0.6)
Free Cash Flow 48.9 77.4 (4.3) 119.9 70.0 50.1 (31.9) 182.2 86.4 34.7 (27.2) 2.1 (2.5) (28.3) (21.9) (48.4) (100) (69) (17.7) (33.7) (38.1) (14.9)