Ligand Pharmaceuticals (LGND)
Market Price (6/26/2026): $300.0 | Market Cap: $6.0 BilSector: Health Care | Industry: Biotechnology
Ligand Pharmaceuticals (LGND)
Market Price (6/26/2026): $300.0Market Cap: $6.0 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 51% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 37% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 45%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 42% Low stock price volatilityVol 12M is 38% Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, and Aging Population & Chronic Disease. Themes include Pharmaceutical Technology Platforms, Show more. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 31x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 48x, P/EPrice/Earnings or Price/(Net Income) is 38x Stock price has recently run up significantly12M Rtn12 month market price return is 156% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 18% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 58% Key risksLGND key risks include [1] its heavy dependence on royalty assets, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 51% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 37% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 45%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 42% |
| Low stock price volatilityVol 12M is 38% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, and Aging Population & Chronic Disease. Themes include Pharmaceutical Technology Platforms, Show more. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 31x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 48x, P/EPrice/Earnings or Price/(Net Income) is 38x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 156% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 18% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 58% |
| Key risksLGND key risks include [1] its heavy dependence on royalty assets, Show more. |
Qualitative Assessment
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Ligand Pharmaceuticals (LGND) stock has gained about 50% since 2/28/2026 because of the following key factors:
1. Favorable Analyst Sentiment and Raised Price Targets.
Multiple equity analysts initiated or reiterated "Buy" or "Outperform" ratings and significantly increased their price targets for Ligand Pharmaceuticals' stock during the period. For instance, Bank of America initiated coverage with a "buy" rating and a $244.00 price objective on March 11, 2026. Citigroup upped its target price from $276.00 to $282.00 on April 15, 2026, and HC Wainwright increased its price target from $243.00 to $289.00 on April 30, 2026. Royal Bank of Canada further raised its price objective from $252.00 to $262.00 on May 8, 2026. These positive revisions collectively contributed to a "Moderate Buy" average rating and an average target price around $257.71 as of late June 2026.
2. Strategic Acquisition of XOMA Royalty Corporation.
Ligand Pharmaceuticals announced on April 27, 2026, a definitive agreement to acquire XOMA Royalty Corporation for $39.00 per share in cash. This acquisition, along with its anticipated contributions, was directly tied to the company's decision to raise its full-year 2026 financial guidance.
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Ligand Pharmaceuticals (LGND) stock has gained about 50% since 2/28/2026 because of the following key factors:
1. Favorable Analyst Sentiment and Raised Price Targets.
Multiple equity analysts initiated or reiterated "Buy" or "Outperform" ratings and significantly increased their price targets for Ligand Pharmaceuticals' stock during the period. For instance, Bank of America initiated coverage with a "buy" rating and a $244.00 price objective on March 11, 2026. Citigroup upped its target price from $276.00 to $282.00 on April 15, 2026, and HC Wainwright increased its price target from $243.00 to $289.00 on April 30, 2026. Royal Bank of Canada further raised its price objective from $252.00 to $262.00 on May 8, 2026. These positive revisions collectively contributed to a "Moderate Buy" average rating and an average target price around $257.71 as of late June 2026.
2. Strategic Acquisition of XOMA Royalty Corporation.
Ligand Pharmaceuticals announced on April 27, 2026, a definitive agreement to acquire XOMA Royalty Corporation for $39.00 per share in cash. This acquisition, along with its anticipated contributions, was directly tied to the company's decision to raise its full-year 2026 financial guidance.
3. Extension of Filspari Exclusivity through Patent Allowance.
A key patent allowance for Filspari in IgAN was announced in May 2026, which may extend its exclusivity to 2037. This development is significant as it strengthens Ligand's 9% royalty stream from Filspari, providing a clearer long-term revenue outlook for a crucial asset in its portfolio.
4. Successful Convertible Notes Offering with Share Repurchase.
In June 2026, Ligand completed an offering of $700.0 million in 0.00% convertible senior notes due 2031. Approximately $60.0 million of the proceeds were used to repurchase 228,859 shares of common stock at $262.17 per share. This strategic financing move enhanced the company's financial flexibility, supported future investments, and aimed to mitigate potential share dilution, signaling strong capital management to investors.
5. Robust Full-Year 2026 Guidance and Strong Future Earnings Projections.
Despite reporting a miss on adjusted earnings per share and revenue for fiscal Q1 2026 (ended March 31, 2026), Ligand Pharmaceuticals updated and reaffirmed its full-year 2026 earnings guidance to a range of $8.50 to $9.50 per diluted share, above the prior consensus estimate of $8.00. The company also provided revenue guidance of $270.0 million to $310.0 million, surpassing the consensus estimate of $267.5 million. Furthermore, Ligand's earnings are expected to grow by 74.72% in the next year, from $4.47 to $7.81 per share.
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Stock Movement Drivers
Fundamental Drivers
The 49.2% change in LGND stock from 2/28/2026 to 6/25/2026 was primarily driven by a 24.9% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 198.31 | 295.92 | 49.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 268 | 274 | 2.4% |
| Net Income Margin (%) | 46.4% | 55.9% | 20.5% |
| P/E Multiple | 30.7 | 38.3 | 24.9% |
| Shares Outstanding (Mil) | 19 | 20 | -3.2% |
| Cumulative Contribution | 49.2% |
Market Drivers
2/28/2026 to 6/25/2026| Return | Correlation | |
|---|---|---|
| LGND | 49.2% | |
| Market (SPY) | 7.3% | 33.6% |
| Sector (XLV) | -2.5% | 32.6% |
Fundamental Drivers
The 45.6% change in LGND stock from 11/30/2025 to 6/25/2026 was primarily driven by a 189.3% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 203.18 | 295.92 | 45.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 251 | 274 | 9.3% |
| Net Income Margin (%) | 19.3% | 55.9% | 189.3% |
| P/E Multiple | 81.9 | 38.3 | -53.2% |
| Shares Outstanding (Mil) | 20 | 20 | -1.5% |
| Cumulative Contribution | 45.6% |
Market Drivers
11/30/2025 to 6/25/2026| Return | Correlation | |
|---|---|---|
| LGND | 45.6% | |
| Market (SPY) | 8.1% | 26.3% |
| Sector (XLV) | -0.5% | 29.4% |
Fundamental Drivers
The 189.6% change in LGND stock from 5/31/2025 to 6/25/2026 was primarily driven by a 98.4% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 102.19 | 295.92 | 189.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 181 | 274 | 51.2% |
| P/S Multiple | 10.8 | 21.4 | 98.4% |
| Shares Outstanding (Mil) | 19 | 20 | -3.5% |
| Cumulative Contribution | 189.6% |
Market Drivers
5/31/2025 to 6/25/2026| Return | Correlation | |
|---|---|---|
| LGND | 189.6% | |
| Market (SPY) | 26.0% | 29.9% |
| Sector (XLV) | 19.4% | 24.9% |
Fundamental Drivers
The 322.3% change in LGND stock from 5/31/2023 to 6/25/2026 was primarily driven by a 375.4% change in the company's Net Income Margin (%).| (LTM values as of) | 5312023 | 6252026 | Change |
|---|---|---|---|
| Stock Price ($) | 70.08 | 295.92 | 322.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 204 | 274 | 34.7% |
| Net Income Margin (%) | 11.8% | 55.9% | 375.4% |
| P/E Multiple | 49.9 | 38.3 | -23.2% |
| Shares Outstanding (Mil) | 17 | 20 | -14.2% |
| Cumulative Contribution | 322.3% |
Market Drivers
5/31/2023 to 6/25/2026| Return | Correlation | |
|---|---|---|
| LGND | 322.3% | |
| Market (SPY) | 82.6% | 37.6% |
| Sector (XLV) | 28.0% | 28.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LGND Return | 55% | -57% | 7% | 50% | 76% | 51% | 186% |
| Peers Return | -11% | -11% | -2% | 15% | 24% | 40% | 54% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| LGND Win Rate | 58% | 42% | 58% | 50% | 75% | 100% | |
| Peers Win Rate | 47% | 42% | 44% | 53% | 58% | 72% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| LGND Max Drawdown | -53% | -60% | -38% | -23% | -21% | -14% | |
| Peers Max Drawdown | -34% | -35% | -31% | -20% | -23% | -14% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: RPRX, INVA, XOMA. See LGND Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/25/2026 (YTD)
How Low Can It Go
| Event | LGND | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.8% | -18.8% |
| % Gain to Breakeven | 26.2% | 23.1% |
| Time to Breakeven | 92 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -26.3% | -9.5% |
| % Gain to Breakeven | 35.8% | 10.5% |
| Time to Breakeven | 48 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -50.8% | -24.5% |
| % Gain to Breakeven | 103.4% | 32.4% |
| Time to Breakeven | 1156 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.5% | -33.7% |
| % Gain to Breakeven | 60.0% | 50.9% |
| Time to Breakeven | 51 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -50.5% | -19.2% |
| % Gain to Breakeven | 101.9% | 23.8% |
| Time to Breakeven | 2732 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -11.0% | -3.7% |
| % Gain to Breakeven | 12.4% | 3.9% |
| Time to Breakeven | 6 days | 6 days |
In The Past
Ligand Pharmaceuticals's stock fell -20.8% during the 2025 US Tariff Shock. Such a loss loss requires a 26.2% gain to breakeven.
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| Event | LGND | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.8% | -18.8% |
| % Gain to Breakeven | 26.2% | 23.1% |
| Time to Breakeven | 92 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -26.3% | -9.5% |
| % Gain to Breakeven | 35.8% | 10.5% |
| Time to Breakeven | 48 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -50.8% | -24.5% |
| % Gain to Breakeven | 103.4% | 32.4% |
| Time to Breakeven | 1156 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -37.5% | -33.7% |
| % Gain to Breakeven | 60.0% | 50.9% |
| Time to Breakeven | 51 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -50.5% | -19.2% |
| % Gain to Breakeven | 101.9% | 23.8% |
| Time to Breakeven | 2732 days | 105 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -26.3% | -15.4% |
| % Gain to Breakeven | 35.7% | 18.2% |
| Time to Breakeven | 244 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -76.3% | -53.4% |
| % Gain to Breakeven | 322.0% | 114.4% |
| Time to Breakeven | 1657 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -27.5% | -8.6% |
| % Gain to Breakeven | 38.0% | 9.5% |
| Time to Breakeven | 2166 days | 47 days |
In The Past
Ligand Pharmaceuticals's stock fell -20.8% during the 2025 US Tariff Shock. Such a loss loss requires a 26.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Ligand Pharmaceuticals (LGND)
Ligand Pharmaceuticals Incorporated is a biopharmaceutical company that specializes in developing and acquiring innovative technologies designed to assist other pharmaceutical companies in the discovery and development of new medicines globally. A core aspect of its business is its proprietary Captisol technology, a formulation enhancer that helps improve the solubility, stability, and bioavailability of drugs, which it also sells as a material to other manufacturers.
The company maintains a broad portfolio of commercialized medicines, many of which leverage its foundational technologies or have been acquired. Key products include Kyprolis and Evomela for multiple myeloma, Veklury for COVID-19, Rylaze for acute lymphoblastic leukemia, and specific Captisol-enabled formulations like Zulresso for postpartum depression and Nexterone for cardiovascular issues. Ligand's diverse offerings also extend to vaccines for pneumococcal disease, treatments for osteoporosis, and various autoimmune conditions.
Beyond its direct commercialized products, Ligand partners with and licenses its technologies to numerous pharmaceutical companies, whose programs are in clinical development across a wide spectrum of therapeutic areas, including cancer, diabetes, neurological disorders, and cardiovascular and kidney diseases. Therefore, its primary customers include other pharmaceutical companies utilizing its technologies and materials, with the ultimate beneficiaries being patients worldwide who receive the medicines developed and marketed through Ligand's contributions.
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Here are 1-2 brief analogies to describe Ligand Pharmaceuticals (LGND):
- Qualcomm for pharmaceutical innovation: Ligand develops and licenses foundational technologies, such as its Captisol material, that help other pharmaceutical companies discover and develop a wide range of medicines, similar to how Qualcomm provides essential chip technology and IP for the mobile industry.
- Unilever for drug assets: Ligand manages a diverse portfolio of commercialized pharmaceutical products and development programs across various therapeutic areas, much like how Unilever manages a vast array of consumer brands.
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- Kyprolis: A pharmaceutical used to treat multiple myeloma.
- Evomela: A pharmaceutical used to treat multiple myeloma.
- Veklury: A treatment for moderate or severe COVID-19.
- Teriparatide injection product: A medication used for osteoporosis.
- Vaxneuvance: A vaccine for the prevention of invasive disease caused by Streptococcus pneumoniae.
- Pneumosil: A pneumococcal conjugate vaccine for preventing pneumococcal pneumonia in children.
- Rylaze: A recombinant erwinia asparaginase for treating acute lymphoblastic leukemia or lymphoblastic lymphoma.
- Nexterone: A Captisol-enabled formulation of amiodarone.
- Zulresso: A Captisol-enabled formulation of brexanolone for treating postpartum depression.
- Noxafil-IV: A Captisol-enabled formulation of posaconazole for intravenous use.
- Duavee: A medication for the treatment of postmenopausal osteoporosis.
- Aziyo portfolio: Includes commercial pericardial repair products and CanGaroo envelope extracellular matrix products.
- Exemptia: A pharmaceutical for autoimmune diseases.
- Vivitra: A pharmaceutical for breast cancer.
- Bryxta: A pharmaceutical product indicated for various conditions.
- Zybev: A pharmaceutical product indicated for various conditions.
- Minnebro: A pharmaceutical for the treatment of hypertension.
- Captisol materials: Proprietary materials sold to pharmaceutical companies for drug formulation.
AI Analysis | Feedback
Ligand Pharmaceuticals (LGND) primarily sells to other companies, specifically within the pharmaceutical and biotechnology sectors.
Based on the provided company description, Ligand's business model involves developing or acquiring technologies (such as its Captisol material) and licensing programs that help other pharmaceutical companies discover, develop, and commercialize medicines. It also sells Captisol materials directly to these companies for use in their drug formulations.
While the description lists numerous commercial programs and products that utilize Ligand's technologies or are part of its licensed portfolio (e.g., Kyprolis, Veklury, Vaxneuvance, Rylaze, Zulresso, Noxafil-IV), it does not explicitly name the specific pharmaceutical companies that are direct customers or licensees for these programs and products. Therefore, a definitive list of named customer companies with their symbols cannot be provided from the given background information.
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Todd Davis, Chief Executive Officer
Todd Davis was appointed Chief Executive Officer of Ligand Pharmaceuticals in December 2022 and has been a member of the company's Board of Directors since 2007. He brings over 30 years of operational and investment experience in the biopharmaceutical and life sciences sectors. Mr. Davis was a founder and Managing Partner of HealthCare Royalty Partners (now HCRx), a global healthcare investment firm that grew to approximately $4 billion in capital commitments during his tenure. He also founded RoyaltyRx Capital in 2018, a special opportunities investment firm. His experience includes serving as a partner at Apax Partners, focusing on biopharmaceutical growth equity investments, and holding leadership roles in corporate development and general management at Elan Pharmaceuticals. He began his career in sales at Abbott Laboratories. Mr. Davis's extensive background with HealthCare Royalty Partners and Apax Partners demonstrates a pattern of managing companies backed by investment and private equity firms. He has also served on the boards of several biopharmaceutical companies.
Tavo Espinoza, Chief Financial Officer
Octavio "Tavo" Espinoza became Ligand Pharmaceuticals' Chief Financial Officer in November 2022, having joined the company in 2016. Before his appointment as CFO, he held positions as Senior Vice President of Finance from 2019 to 2022 and Senior Director of Accounting from 2016 to 2019 at Ligand. Prior to his time at Ligand, Mr. Espinoza served as Senior Director, Finance for Receptos, a publicly traded drug-discovery company that was subsequently acquired by Celgene (now Bristol-Myers Squibb), indicating his involvement with a company that was sold to an acquirer. He also held senior finance and accounting roles at Illumina and Intuit, and started his professional career in public accounting at PricewaterhouseCoopers. Mr. Espinoza is a Certified Public Accountant in California.
Andrew Reardon, Chief Legal Officer
Andrew Reardon has served as Ligand Pharmaceuticals' Chief Legal Officer since 2022. Before assuming this role, he was a Vice President and Special Counsel to the company. Mr. Reardon previously held the position of Chief Legal Officer at HealthCare Royalty Partners for over a decade, a global healthcare investment firm co-founded by Ligand's CEO, Todd Davis. His professional experience also includes working at the international law firm Willkie Farr & Gallagher, where he focused on corporate transactions, including finance and mergers and acquisitions. Additionally, he served as an executive with Citibank from 1997 to 2000.
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The key risks to Ligand Pharmaceuticals (LGND) largely stem from its unique business model, which centers on technology licensing and royalty aggregation rather than direct drug development and commercialization.
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Reliance on Partner Success and Intellectual Property for Royalty and Milestone Revenue: Ligand's revenue is heavily dependent on the success of its collaboration partners in developing, gaining regulatory approval for, and commercially launching drugs that utilize Ligand's licensed technologies, such as Captisol, or for which Ligand owns royalty rights. Partners have significant discretion regarding the pursuit of development programs, and any failure to successfully develop a product, termination of agreements, or changes in partner strategy can directly reduce Ligand's milestone and royalty income. Discontinuation of partner programs can lead to financial asset impairment. Furthermore, the sustainability of Ligand's royalty-driven growth model faces risks from drug pricing pressures or the underperformance of key partnered drugs.
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Dependence on Captisol Technology and its Intellectual Property: Captisol is a proprietary, patent-protected technology critical to many of Ligand's commercial programs, enabling the solubility and stability of various drugs. The company maintains a broad global patent portfolio for Captisol, with the latest expiration dates extending to 2033-2035, and other applications potentially to 2040-2041. However, the competitive advantage derived from Captisol could be eroded by patent expirations, the development of superior competing drug delivery technologies, or its obsolescence. Additionally, Ligand is dependent on a single-source supplier for Captisol, which poses a supply chain disruption risk.
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Intense Competition for Royalty Acquisition Opportunities and in Biopharmaceutical Technologies: Ligand operates in a fiercely competitive market for acquiring high-quality royalty assets, which is a core part of its growth strategy. It competes with various entities, including other product-marketing companies and financial institutions, some of which may possess advantages such as lower capital costs, greater size, or existing strategic relationships. Beyond royalty acquisition, the biopharmaceutical industry is characterized by rapid technological advancements and intense competition. Ligand faces the constant threat of new entrants or existing competitors introducing superior drug delivery systems or other enabling technologies that could diminish the value or demand for its platforms, such as Captisol.
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Ligand Pharmaceuticals (LGND) is involved in developing and acquiring technologies to help pharmaceutical companies discover and develop medicines. The addressable markets for its main products and services are as follows:
- Multiple Myeloma (Kyprolis, Evomela): The global multiple myeloma market size was estimated at USD 31.00 billion in 2026 and is projected to reach USD 49.79 billion by 2034. The market size in the United States was approximately USD 14,300 million in 2023.
- COVID-19 Therapeutics (Veklury): The global COVID-19 therapeutics market size was valued at USD 30.7 billion in 2021 and was projected to contract to more than USD 16.2 billion by the end of 2031. Another estimate places the global COVID-19 therapeutics market size at USD 32542.5 million in 2025, projected to reach USD 8701.97 million by 2033.
- Osteoporosis (Teriparatide injection product, Duavee): The global osteoporosis drugs market size was valued at USD 16.6 billion in 2024 and is predicted to reach USD 25.4 billion by 2032. The global osteoporosis treatment market was valued at USD 10.75 billion in 2018 and is projected to reach USD 19.68 billion by 2032. Specifically for Teriparatide, the global market for Teriparatide Injection was valued at approximately USD 2 billion and is anticipated to reach over USD 4 billion by 2032.
- Pneumococcal Vaccine (Vaxneuvance, Pneumosil): The global pneumococcal vaccine market size was estimated at USD 8,070.9 million in 2023 and is projected to reach USD 12,191.7 million by 2030. Another report valued the global pneumococcal vaccine market at USD 8.8 billion in 2024, expecting it to grow to USD 15.1 billion in 2034.
- Acute Lymphoblastic Leukemia / Lymphoblastic Lymphoma (Rylaze): The global Acute Lymphoblastic Leukemia market size was USD 3720 million in 2025 and is expected to boost sales to USD 6585.32 million by 2033. The acute lymphoblastic leukemia market across the top 7 major markets (US, EU4, UK, and Japan) reached a value of USD 2,270.5 million in 2024 and is expected to reach USD 4,137.2 million by 2035.
- Postpartum Depression (Zulresso): The global postpartum depression drugs market size was estimated at USD 838.4 million in 2023 and is anticipated to reach USD 1.59 billion by 2030. The global postpartum depression treatment market size was valued at USD 114.83 million in 2025 and is projected to grow to USD 1,379.85 million by 2034. The postpartum depression market size in the 7MM (United States, EU4, UK, and Japan) was estimated to be USD 260 million in 2023.
- Breast Cancer (Vivitra): The global breast cancer drugs market size was estimated at USD 36.62 billion in 2024 and is projected to reach USD 69.72 billion by 2033. Another report valued the global breast cancer market at USD 38.41 billion in 2025, projected to reach USD 89.91 billion by 2034.
- Hypertension (Minnebro): The global anti-hypertensive drugs market size was valued at USD 23.9 billion in 2024 and is projected to grow to USD 35.5 billion by 2034. Another source estimates the global hypertension drugs market size at USD 27.8 billion in 2025, likely to cross USD 39.98 billion by 2035.
- Captisol materials: null
- Nexterone: null
- Aziyo portfolio: null
- Exemptia: null
- Bryxta: null
- Zybev: null
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Share Repurchases
- Ligand Pharmaceuticals announced a share repurchase program in August 2023, authorizing the company to buy back up to $50 million worth of its shares, with the program expiring in April 2026.
- In Q3 2024, Ligand Pharmaceuticals spent $81.9 million on share buybacks.
- As of September 2025, Ligand Pharmaceuticals's 3-Year Share Buyback Ratio was -4.40%, which can reflect no repurchases or potential share issuance over the period.
Share Issuance
- In August 2025, Ligand Pharmaceuticals announced an offering of $400 million of convertible senior notes due in 2030.
- Ligand Pharmaceuticals Incorporated filed a Follow-on Equity Offering in the amount of $100 million in February 2026.
- Ligand Pharmaceuticals's shares outstanding increased by 0.4% in Q3 2025.
Outbound Investments
- Ligand Pharmaceuticals deployed $192 million across eight investments in 2024.
- Over the past two years (as of December 2025), Ligand committed over $400 million of investment capital across various strategies, including one "needle-moving immediate deal transaction" each year, such as Apeiron in 2024 and Pelthos in 2025.
- Key acquisitions include Apeiron Biologics for $100 million in July 2024 and assets of Novan, Inc. for $12.2 million in September 2023, which included the NITRICIL™ technology platform and berdazimer gel.
Capital Expenditures
- Ligand Pharmaceuticals reported capital expenditures of $15,000 in Q3 2024.
- The company's capital expenditure (LTM) was $2.41 million as of June 2024.
- Ligand Pharmaceuticals operates with an "infrastructure-light" model, contributing to low capital expenditures.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 48.45 |
| Mkt Cap | 3.8 |
| Rev LTM | 348 |
| Op Inc LTM | 131 |
| FCF LTM | 149 |
| FCF 3Y Avg | 110 |
| CFO LTM | 154 |
| CFO 3Y Avg | 125 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.8% |
| Rev Chg 3Y Avg | 15.5% |
| Rev Chg Q | 10.8% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 53.2% |
| Op Inc Chg 3Y Avg | 15.4% |
| Op Mgn LTM | 51.6% |
| Op Mgn 3Y Avg | 24.9% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 66.9% |
| CFO/Rev 3Y Avg | 41.6% |
| FCF/Rev LTM | 65.4% |
| FCF/Rev 3Y Avg | 31.5% |
FDA Approved Drugs Data
Expand for More| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| NDA203791 | SITAVIG | acyclovir | tablet | 4122013 | 69.1% | 83.2% | 136.0% | 220.7% | 998.3% |
| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| NDA203791 | SITAVIG | acyclovir | tablet | 4122013 | 69.1% | 83.2% | 136.0% | 220.7% | 998.3% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Development and licensing of biopharmaceutical assets | 268 | 167 | 131 | ||
| Captisol | 104 | 164 | |||
| Contract revenue and other income | 19 | 28 | |||
| Royalties | 73 | 49 | |||
| Total | 268 | 167 | 131 | 196 | 242 |
| $ Mil | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|
| CyDex | 22 | 15 | 1 | 5 |
| Ligand | -2 | 0 | -1 | -6 |
| Total | 20 | 15 | 1 | -1 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| Development and licensing of biopharmaceutical assets | 124 | -4 |
| Total | 124 | -4 |
| $ Mil | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|
| Ligand | 184 | 38 | 29 | 111 |
| CyDex | 74 | 66 | 76 | 11 |
| Total | 258 | 105 | 104 | 122 |
Price Behavior
| Market Price | $295.92 | |
| Market Cap ($ Bil) | 5.9 | |
| First Trading Date | 11/18/1992 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $236.06 | $203.68 |
| DMA Trend | up | up |
| Distance from DMA | 25.4% | 45.3% |
| 3M | 1YR | |
| Volatility | 45.9% | 37.7% |
| Downside Capture | 101.64 | 56.82 |
| Upside Capture | 187.11 | 156.11 |
| Correlation (SPY) | 28.4% | 29.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.48 | 2.15 | 1.64 | 1.16 | 1.12 | 1.02 |
| Up Beta | 1.89 | 1.28 | 1.00 | 1.20 | 1.53 | 0.83 |
| Down Beta | 0.70 | 0.93 | 1.28 | 0.42 | 0.51 | 0.79 |
| Up Capture | 197% | 213% | 221% | 152% | 201% | 270% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 21 | 33 | 61 | 134 | 399 |
| Down Capture | 473% | 458% | 196% | 135% | 86% | 104% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 10 | 20 | 30 | 63 | 115 | 351 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LGND | |
|---|---|---|---|---|
| LGND | 151.0% | 37.8% | 2.53 | - |
| Sector ETF (XLV) | 17.9% | 15.1% | 0.88 | 23.8% |
| Equity (SPY) | 22.1% | 12.4% | 1.33 | 28.7% |
| Gold (GLD) | 20.8% | 27.7% | 0.67 | 10.1% |
| Commodities (DBC) | 23.3% | 18.5% | 0.99 | -9.7% |
| Real Estate (VNQ) | 11.6% | 13.8% | 0.55 | 17.5% |
| Bitcoin (BTCUSD) | -42.9% | 42.5% | -1.20 | 12.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LGND | |
|---|---|---|---|---|
| LGND | 18.3% | 44.2% | 0.52 | - |
| Sector ETF (XLV) | 6.2% | 14.8% | 0.23 | 35.1% |
| Equity (SPY) | 13.3% | 17.1% | 0.60 | 42.9% |
| Gold (GLD) | 17.4% | 18.3% | 0.77 | 5.9% |
| Commodities (DBC) | 7.9% | 19.5% | 0.30 | -0.2% |
| Real Estate (VNQ) | 2.8% | 18.9% | 0.05 | 35.8% |
| Bitcoin (BTCUSD) | 9.8% | 54.1% | 0.38 | 17.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with LGND | |
|---|---|---|---|---|
| LGND | 9.9% | 45.4% | 0.37 | - |
| Sector ETF (XLV) | 10.1% | 16.6% | 0.49 | 42.4% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 45.1% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | 5.3% |
| Commodities (DBC) | 5.9% | 18.0% | 0.25 | 10.5% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 34.8% |
| Bitcoin (BTCUSD) | 56.4% | 66.5% | 0.97 | 11.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/10/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | -9.6% | -4.9% | 1.9% |
| 2/26/2026 | 2.5% | 9.2% | 6.4% |
| 11/6/2025 | 9.4% | 8.0% | -3.0% |
| 8/7/2025 | 2.8% | 9.6% | 17.1% |
| 5/8/2025 | -2.9% | -0.5% | 0.4% |
| 2/27/2025 | 0.6% | 0.3% | -4.6% |
| 11/7/2024 | 11.1% | 4.4% | 6.8% |
| 8/6/2024 | -5.8% | 4.0% | 4.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 16 | 18 | 11 |
| # Negative | 8 | 6 | 13 |
| Median Positive | 4.4% | 6.2% | 4.6% |
| Median Negative | -5.7% | -9.2% | -5.7% |
| Max Positive | 19.9% | 27.0% | 18.4% |
| Max Negative | -9.6% | -18.0% | -22.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | -9.6% | -4.9% | 1.9% |
| 2/26/2026 | 2.5% | 9.2% | 6.4% |
| 11/6/2025 | 9.4% | 8.0% | -3.0% |
| 8/7/2025 | 2.8% | 9.6% | 17.1% |
| 5/8/2025 | -2.9% | -0.5% | 0.4% |
| 2/27/2025 | 0.6% | 0.3% | -4.6% |
| 11/7/2024 | 11.1% | 4.4% | 6.8% |
| 8/6/2024 | -5.8% | 4.0% | 4.1% |
| 5/7/2024 | 9.8% | 16.5% | 12.5% |
| 2/27/2024 | 19.9% | 2.5% | -7.8% |
| 11/8/2023 | 4.6% | 8.1% | 18.4% |
| 8/8/2023 | 5.3% | 0.7% | -5.4% |
| 5/4/2023 | 3.4% | 1.3% | -7.4% |
| 2/22/2023 | 4.1% | 2.5% | -4.7% |
| 11/7/2022 | 11.3% | 27.0% | 4.6% |
| 8/8/2022 | 3.5% | 8.1% | -5.6% |
| 5/4/2022 | -5.5% | -18.0% | -11.5% |
| 2/17/2022 | -8.6% | -9.9% | 0.5% |
| 11/9/2021 | 9.2% | 6.3% | -5.7% |
| 7/29/2021 | -4.6% | -8.4% | -3.9% |
| 5/3/2021 | -9.1% | -12.8% | -22.0% |
| 2/3/2021 | 0.2% | 21.9% | -20.0% |
| 10/30/2020 | -0.7% | 6.0% | 1.6% |
| 8/3/2020 | 1.6% | 0.4% | -13.0% |
| SUMMARY STATS | |||
| # Positive | 16 | 18 | 11 |
| # Negative | 8 | 6 | 13 |
| Median Positive | 4.4% | 6.2% | 4.6% |
| Median Negative | -5.7% | -9.2% | -5.7% |
| Max Positive | 19.9% | 27.0% | 18.4% |
| Max Negative | -9.6% | -18.0% | -22.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/28/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/03/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/24/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
| 06/30/2019 | 08/08/2019 | 10-Q |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EPS | 8.5 | 9 | 9.5 | 5.9% | Raised | Guidance: 8.5 for 2026 | |
| 2026 Royalty Revenue | 225.00 Mil | 237.50 Mil | 250.00 Mil | 11.8% | Raised | Guidance: 212.50 Mil for 2026 | |
| 2026 Captisol Revenue | 35.00 Mil | 37.50 Mil | 40.00 Mil | 0.0% | Affirmed | Guidance: 37.50 Mil for 2026 | |
| 2026 Contract Revenue | 10.00 Mil | 15.00 Mil | 20.00 Mil | 0.0% | Affirmed | Guidance: 15.00 Mil for 2026 | |
| 2026 Total Revenue | 270.00 Mil | 290.00 Mil | 310.00 Mil | 9.4% | Raised | Guidance: 265.00 Mil for 2026 | |
Prior: Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted EPS | 8 | 8.5 | 9 | 13.0% | Higher New | Guidance: 7.53 for 2025 | |
| 2026 Royalty Revenue | 200.00 Mil | 212.50 Mil | 225.00 Mil | 39.8% | Higher New | Guidance: 152.00 Mil for 2025 | |
| 2026 Captisol Revenue | 35.00 Mil | 37.50 Mil | 40.00 Mil | -6.2% | Lower New | Guidance: 40.00 Mil for 2025 | |
| 2026 Contract Revenue | 10.00 Mil | 15.00 Mil | 20.00 Mil | -60.5% | Lower New | Guidance: 38.00 Mil for 2025 | |
| 2026 Total Revenue | 245.00 Mil | 265.00 Mil | 285.00 Mil | 15.2% | Higher New | Guidance: 230.00 Mil for 2025 | |
Insider Activity
Updated 6/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sabba, Stephen L | Direct | Sell | 6182026 | 254.00 | 2,145 | 544,830 | 8,541,766 | Form | |
| 2 | Haas, Jason | Direct | Sell | 6152026 | 255.58 | 6,461 | 1,651,320 | 1,273,058 | Form | |
| 3 | Aryeh, Jason | Direct | Sell | 6122026 | 250.00 | 4,500 | 1,125,000 | 25,645,000 | Form | |
| 4 | Aryeh, Jason | Direct | Sell | 6122026 | 250.00 | 500 | 125,000 | 26,770,000 | Form | |
| 5 | Lamattina, John L | Direct | Sell | 6122026 | 250.88 | 4,591 | 1,151,774 | 6,765,890 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sabba, Stephen L | Direct | Sell | 6182026 | 254.00 | 2,145 | 544,830 | 8,541,766 | Form | |
| 2 | Haas, Jason | Direct | Sell | 6152026 | 255.58 | 6,461 | 1,651,320 | 1,273,058 | Form | |
| 3 | Aryeh, Jason | Direct | Sell | 6122026 | 250.00 | 4,500 | 1,125,000 | 25,645,000 | Form | |
| 4 | Aryeh, Jason | Direct | Sell | 6122026 | 250.00 | 500 | 125,000 | 26,770,000 | Form | |
| 5 | Lamattina, John L | Direct | Sell | 6122026 | 250.88 | 4,591 | 1,151,774 | 6,765,890 | Form | |
| 6 | Reardon, Andrew | CLO & Secretary | Direct | Sell | 6022026 | 227.06 | 5,000 | 1,135,316 | 9,396,326 | Form |
| 7 | Kozarich, John W | Direct | Sell | 5142026 | 223.50 | 1,575 | 352,012 | 9,339,171 | Form | |
| 8 | Kozarich, John W | Direct | Sell | 5142026 | 224.00 | 459 | 102,816 | 9,360,064 | Form | |
| 9 | Kozarich, John W | Direct | Sell | 5142026 | 231.80 | 467 | 108,251 | 9,686,042 | Form | |
| 10 | Reardon, Andrew | CLO & Secretary | Direct | Sell | 5042026 | 231.31 | 5,000 | 1,156,556 | 9,572,117 | Form |
| 11 | Kozarich, John W | Direct | Sell | 4022026 | 202.23 | 467 | 94,440 | 8,544,705 | Form | |
| 12 | Reardon, Andrew | CLO & Secretary | Direct | Sell | 4022026 | 201.24 | 5,000 | 1,006,224 | 8,327,913 | Form |
| 13 | Lamattina, John L | Direct | Sell | 3312026 | 200.76 | 2,161 | 433,842 | 6,168,150 | Form | |
| 14 | Sabba, Stephen L | Direct | Sell | 3252026 | 207.87 | 1,000 | 207,873 | 6,816,769 | Form | |
| 15 | Espinoza, Octavio | Chief Financial Officer | Direct | Sell | 3132026 | 225.00 | 3,057 | 687,825 | 4,727,250 | Form |
| 16 | Reardon, Andrew | CLO & Secretary | Direct | Sell | 3062026 | 206.35 | 5,000 | 1,031,770 | 7,608,068 | Form |
| 17 | Espinoza, Octavio | Chief Financial Officer | Direct | Sell | 3062026 | 205.83 | 13,423 | 2,762,822 | 4,458,635 | Form |
| 18 | Kozarich, John W | Direct | Sell | 3042026 | 200.50 | 467 | 93,632 | 8,565,256 | Form | |
| 19 | Kozarich, John W | Direct | Sell | 2042026 | 195.91 | 467 | 91,490 | 8,460,771 | Form | |
| 20 | Kozarich, John W | Direct | Sell | 1062026 | 189.58 | 467 | 88,532 | 8,275,797 | Form | |
| 21 | Espinoza, Octavio | Chief Financial Officer | Direct | Sell | 12162025 | 188.31 | 1,804 | 339,711 | 4,931,086 | Form |
| 22 | Kozarich, John W | Direct | Sell | 12032025 | 195.84 | 467 | 91,457 | 8,640,620 | Form | |
| 23 | Gray, Nancy Ryan | Direct | Sell | 11122025 | 205.45 | 6,571 | 1,350,012 | 1,662,912 | Form | |
| 24 | Lamattina, John L | Direct | Sell | 11122025 | 205.45 | 4,179 | 858,576 | 6,312,246 | Form | |
| 25 | Kozarich, John W | Direct | Sell | 11052025 | 191.05 | 467 | 89,219 | 8,518,410 | Form | |
| 26 | Kozarich, John W | Direct | Sell | 10032025 | 179.44 | 467 | 83,800 | 8,084,849 | Form | |
| 27 | Aryeh, Jason | Direct | Sell | 9242025 | 170.81 | 10,000 | 1,708,088 | 11,835,169 | Form | |
| 28 | Kozarich, John W | Direct | Sell | 9042025 | 162.26 | 467 | 75,775 | 7,386,344 | Form | |
| 29 | Kozarich, John W | Direct | Sell | 8052025 | 131.88 | 467 | 61,586 | 6,064,822 | Form | |
| 30 | Kozarich, John W | Direct | Sell | 7112025 | 125.00 | 934 | 116,750 | 5,807,000 | Form | |
| 31 | Reardon, Andrew | CLO & Secretary | Direct | Sell | 6242025 | 114.08 | 500 | 57,042 | 3,639,631 | Form |
| 32 | Reardon, Andrew | CLO & Secretary | Direct | Sell | 6122025 | 114.54 | 500 | 57,271 | 3,711,485 | Form |
| 33 | Reardon, Andrew | CLO & Secretary | Direct | Sell | 6022025 | 104.00 | 1,000 | 104,000 | 3,421,912 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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