Ligand Pharmaceuticals Inc (LGND)

Pharmaceutical Preparations

Latest Price

$317.33

TTM P/E

32.88

Normalized P/E

186.32

TTM Div Yield

Fwd Div Yield

Book Value

48.28

P/B Ratio

6.57

Valuation metrics

EPS: $6.13

Book value / share: $51.44

Formula: √(22.5 × EPS × BVPS)

Graham Number

$84.23

73% downside

Norm. op. income: $26M (median of 7yr)

Tax rate: 21%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$47.42

85% downside

Base FCF: $70M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$300.69

5% downside

EPS: $6.13

Target P/E: 33×

Formula: EPS × P/E

P/E Fair Value

$202.29

36% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	3.10M	$980.0M	15.57%	+139.1K	2026-06-30
Invesco Ltd.	1.20M	$379.0M	6.03%	+378.0K	2026-06-30
Vanguard Portfolio Management LLC	1.14M	$359.0M	5.71%	+38.0K	2026-06-30
Jupiter Topco LLC	1.04M	$328.0M	5.22%	--	2026-06-30
Vanguard Capital Management LLC	871.0K	$275.0M	4.37%	+22.9K	2026-06-30
State Street Corp	826.5K	$261.0M	4.15%	+47.7K	2026-06-30
FMR LLC	762.8K	$241.0M	3.83%	+166.7K	2026-06-30
Franklin Resources Inc	752.0K	$237.0M	3.78%	+178.9K	2026-06-30
Congress Asset Management Co	659.9K	$208.0M	3.31%	+155.3K	2026-06-30
Geode Capital Management, LLC	589.0K	$186.0M	2.96%	+30.1K	2026-06-30