Ligand Pharmaceuticals Q3 Adjusted Earnings, Revenue Drop; 2026 Adjusted EPS Guidance Raised

09:17 AM EDT, 10/29/2026 (MT Newswires) -- Ligand Pharmaceuticals (LGND) reported Q3 adjusted earnings Thursday of $2.67 per diluted share, down from $3.09 a year earlier. Analysts polled by FactSet expected $2.33. Total revenue for the quarter ended Sept. 30 was $78.7 million, down from $115.5 million a year earlier. Analysts expected $77 million. The company said it raised its full-year 2026 adjusted diluted EPS guidance to a range of about $9.50 to $9.75, from the previous range of $9.00 to $9.50. Analysts expect $9.35. Full-year revenue outlook is unchanged at $270 million to $310 million. Analysts expect $289.5 million. The company's shares were down 1.1% in premarket activity Thursday.