Ligand Pharmaceuticals Raises 2026 Adjusted EPS Outlook After Q3 Beat

Ligand Pharmaceuticals Incorporated (LGND) raised its 2026 adjusted earnings per diluted share outlook to about $9.50 to $9.75 after third-quarter non-GAAP earnings per share reached $2.67, 34 cents above estimates.

Revenue totaled $78.75 million, exceeding estimates by $1.52 million but falling 31.8% from a year earlier. The company kept its full-year revenue forecast at $270 million to $310 million.

That forecast includes $225 million to $250 million in royalty revenue, $35 million to $40 million in Captisol sales and $10 million to $20 million in contract revenue. Ligand left each of those ranges unchanged. Its previous adjusted earnings per diluted share outlook was about $9 to $9.50.

Ligand shares were down 1.2% in premarket trading Oct. 29.