Ligand Pharma Q3 revenue jumps; raises 2025 guidance

Ligand Pharmaceuticals Incorporated

06/11/2025 12:12

Overview

Ligand Q3 revenue up 123% yr/yr, driven by higher royalty revenue and Pelthos sale

Adjusted EPS for Q3 beats consensus, reflecting strong operational performance

Company raises 2025 revenue guidance to $225 mln-$235 mln, EPS to $7.40-$7.65

Outlook

Ligand raises 2025 revenue guidance to $225 mln - $235 mln

2025 EPS guidance increased to $7.40 - $7.65

Royalties projected at $147 mln - $157 mln for 2025

Result Drivers

ROYALTY REVENUE - 47% increase in royalties driven by Travere Therapeutics' Filspari, Merck/Verona Pharma's Ohtuvayre, and Recordati's Qarziba

STRATEGIC TRANSACTIONS - Revenue boost from Zelsuvmi out-license and Pelthos business sale

FINANCING - Convertible debt financing completed, providing resources for strategic investments

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Beat
$3.09
$1.93 (7 Analysts)
Q3 EPS
$5.68
Q3 Net Income
$117.27 mln
Q3 Basic EPS
$5.99
Q3 Operating Income
$54.93 mln
Q3 Pretax Profit
$141.14 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy"

Wall Street's median 12-month price target for Ligand Pharmaceuticals Inc is $180.00, about 5.8% below its November 5 closing price of $190.38

The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 20 three months ago

Press Release: ID:nGNXMcgwf

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)