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Citi resumes Ligand Pharma coverage with Buy rating, $387 target

Tue, 21 Jul 2026 05:03:10 -0400

(Updated - July 21, 2026 5:03 AM EDT)

Citi analyst Yigal Nochomovitz resumed coverage of Ligand Pharma (NASDAQ: LGND) with a Buy rating and a price target of $387.00, following the close of the company's acquisition of XOMA.

The acquisition of XOMA was valued at $39 per share, representing approximately $739 million in equity value, plus a contingent value right tied to ongoing Tremfya litigation. According to Nochomovitz, the deal was based on commercial and late-stage opportunities, including seven commercial and more than 14 Phase 3 or registrational assets.

With the acquisition complete, Ligand's portfolio has expanded to more than 200 assets, adding

Citi resumes Ligand Pharma coverage with Buy rating, $387 target

Tue, 21 Jul 2026 05:03:10 -0400

(Updated - July 21, 2026 5:03 AM EDT)

Citi analyst Yigal Nochomovitz resumed coverage of Ligand Pharma (NASDAQ: LGND) with a Buy rating and a price target of $387.00, following the close of the company's acquisition of XOMA.

With the acquisition complete, Ligand's portfolio has expanded to more than 200 assets, adding

Ligand Pharma (LGND) PT Raised to $335 at Benchmark as XOMA Royalty Cash Acquisition Completed

Thu, 16 Jul 2026 09:56:42 -0400

(Updated - July 16, 2026 9:56 AM EDT)

Benchmark analyst Robert Wasserman raised the price target on Ligand Pharma (NASDAQ: LGND) to $335.00 (from $275.00) while maintaining a Buy rating.

The analyst commented, "Ligand announced the completion of their $739 million cash acquisition of XOMA Royalty (XOMA, Hold), which adds seven commercialized products, 14 late-stage development programs, as well as over 100 total Pharma assets. The acquisition is expected to be immediately accretive and ultimately add $0.50 in adjusted earnings per share this year and $1.50 next year. Our estimated revenues for XOMA for 2026E were $65.0 million, up from $52.1 million

Ligand Pharma (LGND) PT Raised to $335 at Benchmark as XOMA Royalty Cash Acquisition Completed

Thu, 16 Jul 2026 09:56:42 -0400

(Updated - July 16, 2026 9:56 AM EDT)

Benchmark analyst Robert Wasserman raised the price target on Ligand Pharma (NASDAQ: LGND) to $335.00 (from $275.00) while maintaining a Buy rating.

Ligand Pharma (LGND) PT Raised to $340 at RBC Capital

Wed, 15 Jul 2026 09:55:44 -0400

(Updated - July 15, 2026 9:55 AM EDT)

RBC Capital analyst Douglas Miehm raised the price target on Ligand Pharma (NASDAQ: LGND) to $340.00 (from $262.00) while maintaining an Outperform rating.

The analyst commented: "Zero-coupon convert strengthens balance sheet; PT revised higher to $340/sh; We are updating our model and PT to reflect the recent convertible offering and incremental capital deployment. The company closed a $700MM offering of 0.00% convertible senior notes, and to account for this attractive financing, we have lowered our estimated cost of capital for LGND from 8.5% to 8.0%. This still represents a ~100bps premium to the largest

Ligand Pharma (LGND) PT Raised to $340 at RBC Capital

Wed, 15 Jul 2026 09:55:44 -0400

(Updated - July 15, 2026 9:55 AM EDT)

RBC Capital analyst Douglas Miehm raised the price target on Ligand Pharma (NASDAQ: LGND) to $340.00 (from $262.00) while maintaining an Outperform rating.

Form 8-K LIGAND PHARMACEUTICALS For: Jul 14

Tue, 14 Jul 2026 09:20:00 -0400

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Form 8-K LIGAND PHARMACEUTICALS For: Jul 14

Tue, 14 Jul 2026 09:20:00 -0400

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Ligand completes acquisition of XOMA Royalty at $39 per share

Tue, 14 Jul 2026 09:01:00 -0400

Ligand Pharmaceuticals (Nasdaq: LGND) has completed its acquisition of XOMA Royalty Corporation, according to a press release from XOMA Royalty dated July 14, 2026.

Under the terms of the deal, which was originally announced April 27, 2026, Ligand acquired all outstanding shares of XOMA Royalty common stock at $39.00 per share in cash. Stockholders and equity award holders also received one non-transferable Contingent Value Right (CVR) per share, entitling them to a portion of 75% of net proceeds that may result from certain pending litigation at XOMA Royalty.

Following the close of the transaction, XOMA Royalty common stock no longer trades on

Ligand completes acquisition of XOMA Royalty at $39 per share

Tue, 14 Jul 2026 09:01:00 -0400

Ligand Pharmaceuticals (Nasdaq: LGND) has completed its acquisition of XOMA Royalty Corporation, according to a press release from XOMA Royalty dated July 14, 2026.

Following the close of the transaction, XOMA Royalty common stock no longer trades on

Ligand completes $739M acquisition of XOMA Royalty

Tue, 14 Jul 2026 09:00:28 -0400

Ligand Pharmaceuticals (Nasdaq: LGND) completed its acquisition of XOMA Royalty Corporation on July 14, 2026, paying $39.00 per share in cash for a total equity value of approximately $739 million.

XOMA Royalty stockholders also received one non-transferable Contingent Value Right per share, entitling holders to a portion of 75% of net proceeds from certain pending litigation at XOMA Royalty. Following the transaction's close, XOMA Royalty common stock ceased trading on the Nasdaq Global Market.

The acquisition adds seven commercial products to Ligand's portfolio, including Roche's VABYSMO (faricimab-svoa), Servier's OJEMDA (tovorafenib), and Zevra Therapeutics' MIPLYFFA (arimoclomol). The deal also brings 14 late-stage development

Ligand Completes Acquisition of XOMA Royalty, Creating a Portfolio of More than 200 Biopharmaceutical Royalty Assets

Tue, 14 Jul 2026 09:00:00 -0400

Acquisition adds seven commercial products including VABYSMO® (faricimab-svoa), OJEMDA™ (tovorafenib), and MIPLYFFA® (arimoclomol), and more than 100 development and commercial-stage assets, creating long-term opportunities to drive growth

Ligand to provide updated 5-year outlook during Investor Day on December 8, 2026

JUPITER, Fla., July 14, 2026 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced it has completed its acquisition of XOMA Royalty Corporation (“XOMA Royalty”), a biotechnology royalty aggregator, for $39.00 per share of common stock in cash, for a total equity value of approximately $739 million. XOMA Royalty stockholders also received one

Ligand Completes Acquisition of XOMA Royalty, Creating a Portfolio of More than 200 Biopharmaceutical Royalty Assets

Tue, 14 Jul 2026 09:00:00 -0400

Ligand to provide updated 5-year outlook during Investor Day on December 8, 2026

XOMA Royalty Announces Closing of Its Acquisition by Ligand

Tue, 14 Jul 2026 09:00:00 -0400

EMERYVILLE, Calif., July 14, 2026 (GLOBE NEWSWIRE) -- XOMA Royalty Corporation today announced that Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) has completed its previously announced acquisition of XOMA Royalty.

Pursuant to the terms of the transaction announced on April 27, 2026, Ligand acquired all of the outstanding shares of XOMA Royalty common stock. XOMA Royalty stockholders received $39.00 in cash per share of XOMA Royalty common stock owned. XOMA Royalty stockholders and equity award holders also received one non-transferable Contingent Value Right (“CVR”) per share entitling the holder to receive a portion of 75% of the net

XOMA Royalty Announces Closing of Its Acquisition by Ligand

Tue, 14 Jul 2026 09:00:00 -0400

Ligand Pharma (LGND) PT Raised to $388 at BofA Securities

Thu, 09 Jul 2026 05:13:16 -0400

BofA Securities analyst Jason Zemansky raised the price target on Ligand Pharma (NASDAQ: LGND) to $388.00 (from $266.00) while maintaining a Buy rating.

The analyst comments "After LGND shares’ strong 2025 performance, the key debate became whether enough growth remained to support premium valuations. We argued yes and, despite meaningful outperformance since March (LGND +42% vs SPI +10%; see our initiation report for details), we still see compelling upside. Importantly, we believe the XOMA deal remains underappreciated, having strengthened Ligand’s ability to grow earnings via a larger royalty portfolio, greater diversification, and increasing scalability. Coupled with a reloaded balance sheet and

Ligand Pharma (LGND) PT Raised to $388 at BofA Securities

Thu, 09 Jul 2026 05:13:16 -0400

BofA Securities analyst Jason Zemansky raised the price target on Ligand Pharma (NASDAQ: LGND) to $388.00 (from $266.00) while maintaining a Buy rating.

Ligand Pharma (LGND) PT Raised to $332 at Stifel as Xoma Asset Acquisition Announced

Wed, 08 Jul 2026 07:22:50 -0400

Stifel analyst Annabel Samimy raised the price target on Ligand Pharma (NASDAQ: LGND) to $332.00 (from $255.00) while maintaining a Buy rating.

The analyst commented, "We reiterate our Buy rating, raising our TP to $332, having further reviewed Xoma assets following the acquisition announcement and incorporating the recently closed $700mn convertible. Accordingly, we updated the model to include: 1) more comprehensive and updated estimates of Xoma’s commercial assets and late-stage pipeline, and 2) refined post-acquisition financing structure with convertible bond financing with a financial warrant hedge that almost fully offsets dilution. Recall, LGND updated its royalty guidance to $225–250mn (from $200–225mn)

Ligand Pharma (LGND) PT Raised to $332 at Stifel as Xoma Asset Acquisition Announced

Wed, 08 Jul 2026 07:22:50 -0400

Stifel analyst Annabel Samimy raised the price target on Ligand Pharma (NASDAQ: LGND) to $332.00 (from $255.00) while maintaining a Buy rating.

Form 4 LIGAND PHARMACEUTICALS For: Jun 30 Filed by: Espinoza Octavio

Mon, 06 Jul 2026 17:11:00 -0400

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Form 4 LIGAND PHARMACEUTICALS For: Jun 30 Filed by: Espinoza Octavio

Mon, 06 Jul 2026 17:11:00 -0400

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Form 4 LIGAND PHARMACEUTICALS For: Jun 30 Filed by: Reardon Andrew

Mon, 06 Jul 2026 17:11:00 -0400

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Form 4 LIGAND PHARMACEUTICALS For: Jun 30 Filed by: Reardon Andrew

Mon, 06 Jul 2026 17:11:00 -0400

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Form 4 LIGAND PHARMACEUTICALS For: Jun 30 Filed by: Davis Todd C

Mon, 06 Jul 2026 17:10:00 -0400

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Form 4 LIGAND PHARMACEUTICALS For: Jun 30 Filed by: Davis Todd C

Mon, 06 Jul 2026 17:10:00 -0400

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