Citigroup has initiated coverage on Ligand Pharmaceuticals Inc (LGND) with a Buy rating, effective December 8, 2025. This marks the firm's first assessment of the company, reflecting its evaluation of Ligand's business dynamics and growth potential.
Based in Jupiter, Florida, Ligand Pharmaceuticals operates in the biopharmaceutical sector, focusing on the development and acquisition of technologies that aid pharmaceutical companies in discovering and developing medicines. The company has a market capitalization of $4.1 billion and a price-to-earnings ratio (P/E) of 83.48, with a trailing earnings per share (EPS) of $2.08.
Ligand's Captisol platform technology enhances drug solubility and stability, contributing to several FDA-approved products, including Gilead's Veklury and Amgen's Kyprolis. The company also employs various innovative technologies, such as its NITRICIL platform, which allows for adjustable drug release profiles.
Upcoming earnings are scheduled for August 5, 2026, with an estimated EPS of $1.73 and revenue of $61.3 million. In its recent earnings performance, Ligand reported Q3 2025 EPS of $3.09, exceeding estimates by 57.3%.
Analyst consensus indicates a positive outlook, with 4 Strong Buy and 8 Buy ratings among 13 analysts as of December 1, 2025. The move underscores the growing confidence in Ligand's market position and technological capabilities.