Ligand Q2 Revenue Jumps 34%, Raises 2026 EPS Guidance
LGND has more than doubled off its 52-week low of $132.206.
Summary
Ligand delivered a strong Q2, with revenue up 34% year-over-year driven by 32% royalty growth from key drugs Filspari, Zelsuvmi, and Ohtuvayre. Adjusted EPS surged 48%, and the company raised the low end of its 2026 adjusted EPS guidance to $9.00 from $8.50, signaling confidence in the royalty portfolio's momentum. The quarter also reflects the closing of the $700 million convertible note offering and the transformative XOMA Royalty acquisition, which doubled the royalty asset base. This follows the Q1 10-Q that showed a swing to operating profitability, and the guidance raise suggests the XOMA integration is already accretive. With royalty revenue guidance maintained at $225–250 million for the year, the raised EPS floor points to improving operating leverage.
At the time of this announcement, LGND was trading at $302.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.1B. The 52-week trading range was $132.21 to $326.63. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.