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Investing.com - RBC Capital raised its price target on Ligand Pharma (NASDAQ:LGND) to $185.00 from $155.00 on Friday, maintaining an Outperform rating following the company’s strong second-quarter results. The stock, which has surged over 10% in the past week, is currently trading near its 52-week high of $149.21. According to InvestingPro analysis, the company appears to be trading above its Fair Value.
Ligand reported second-quarter 2025 total revenue of $47.6 million, representing 15% year-over-year growth and exceeding consensus estimates by approximately 9%. The revenue outperformance was primarily driven by better-than-expected results in both Royalty and Captisol segments.
The pharmaceutical company posted adjusted core earnings per share of $1.60 for the quarter, surpassing consensus expectations by approximately 13%. This earnings beat prompted management to raise its full-year 2025 guidance.
Ligand increased its 2025 total revenue guidance to $200-225 million, representing 20-35% year-over-year growth, up from its previous forecast of $180-200 million. The company also raised its 2025 core adjusted EPS guidance to $6.70-7.00, reflecting 17-22% year-over-year growth, compared to the previous guidance of $6.00-6.25.
RBC Capital’s price target increase incorporates royalties associated with PVLA’s Qtorin and Ligand’s recent royalty investment in Orchestra Biomed, according to the research firm.
In other recent news, Ligand Pharmaceuticals reported impressive financial results for the second quarter of 2025. The company achieved total revenue of $47.63 million, which surpassed both the consensus estimate of $43.74 million and Oppenheimer’s projection of $44.2 million. Royalty revenue showed significant growth, reaching $36.4 million, which represents a 57% increase compared to the previous year. Additionally, Ligand’s adjusted earnings per share came in at $1.60, exceeding the forecasted $1.43 and marking an 11.89% positive surprise. Following these results, Oppenheimer raised its price target for Ligand Pharmaceuticals to $167, maintaining an Outperform rating. These developments reflect strong investor confidence in Ligand’s financial health and future potential.
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