Positive context积极背景
Stocks股票 / Health Care / LGND
Ligand Pharmaceuticals, Inc. · Health Care
LGND US listed · USD美股 · 美元
Ligand Pharmaceuticals is an American biopharmaceutical company that focuses on acquiring and developing royalty-generating assets. As of 2024, the company's portfolio included royalty rights to approximately 90 pharmaceutical products across a range of therapeutic areas.Ligand Pharmaceuticals 是一家美国生物制药公司，专注于收购和开发产生特许权使用费的资产。截至2024年，公司投资组合涵盖约90种跨治疗领域的药品特许权。
Mid cap中盘 · $6B
Health Care
S&P 600标普600小盘Russell 2000罗素2000
Rate-sensitive利率敏感
$284.47
-$4.78 · -1.65%
52w low52周低 $164high高 $328
Constructive — building a base建设性 — 正在筑底
A normal mid-cycle dip below the 10-day average — the real cycle low isn't due for ~10+ trading days. Wait for support to hold, or for the next low to set up.这是跌破 10 日均线的正常周期中段回调——真正的周期低点要到约 10+ 个交易日后才会到来。等待支撑站稳，或等下一个低点构筑成形。
As of 2026-09-14截至 2026-09-14
Company intelligence公司情报
The latest call, in context把最新财报放回历史脉络
A synthesized event record across management commentary and recorded metrics. Read as context; verify exact wording in the transcript before relying.综合管理层表述与记录指标形成事件档案。仅供参考；使用前请在电话会原文中核对准确措辞。
Live company record实时公司记录
JavaScript loads the source-bounded event record here. Open Terminal if the live module does not start.JavaScript 会在此加载受来源约束的事件记录。如实时模块未启动，请打开终端。
Continue with full transcript history继续查看完整电话会历史 ↗Pressure context压力背景
History mode历史模式
Context only仅供参考 · not a signal or recommendation不构成信号或建议
Narrative claims may await line-level citation; verify in the transcript.叙述性内容可能仍待逐行引用，请在电话会原文中核对。
Price chart价格图表
daily · interactive日线 · 可交互
Open in Terminal打开终端 ↗
Loading chart…图表加载中…
The interactive chart could not load here.互动图表暂时无法在此加载。
Open the live chart in Terminal在终端中打开实时图表 ↗
Candles, volume and moving averages — pan and zoom inside the chart.蜡烛图、成交量与均线 — 图内可缩放拖动。
MMastermind Terminal — live & interactiveMastermind 终端 — 实时互动 ↗
Technicals技术面
daily bars日线数据 · 2026-09-14
Momentum (RSI 14)动量（RSI 14）
46
Neutral zone中性区域
vs 50-day average相对50日均线
-3.8% below下方
Below trend跌破趋势
vs 200-day average相对200日均线
+21.5% above上方
Long trend up长期向上
Volatility波动率
9th percentile第9百分位
These readings feed the stance at the top — one source per number, refreshed nightly.以上读数构成页首的引擎立场 — 每个数字只有一个来源，每晚更新。
Earnings财务业绩
next report下次财报 2026-11-0552
Estimates roughly stable预期基本稳定
Beat in 3 of last 4 quarters近 4 季中 3 季超预期
EPS surprise vs consensus, last quarters每股收益相对预期的超预期幅度（近几个季度） · average平均 125.9%
Valuation估值
Expensive vs sector相对行业偏贵| Multiple指标 | LGND | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（历史） | 45.20x | 30.24 | |
| P/B市净率 | 5.53x | 3.35 | |
| P/S市销率 | 20.98x | 3.11 | |
| Earnings yield盈利收益率 | 2.21% | 2.62 | |
| FCF yield自由现金流收益率 | 0.87% | 4.11 | |
| Shareholder yield股东收益率 | 0.27% | 1.89 | |
| EV/EBITDA企业价值/EBITDA | 72.89x | 18.03 | |
| P/FCF市值/自由现金流 | 115.02x | 21.51 |
"Cheaper than" = share of sector peers trading richer on that multiple.「相对便宜」= 行业中该指标估值更高的同行占比。
Financials财务数据
fiscal years财年Revenue营业收入
$268.1M2025
20202025
5-yr growth5年复合增速 7.5%
Earnings per share每股收益
$6.132025
20202025
Free cash flow自由现金流
$48.9M2025
20202025
Operating margin营业利润率
15.3%
Net margin净利率
46.4%
FCF margin自由现金流利润率
18.4%
Balance-sheet quality财务体质 4/7
Bankruptcy risk: safe zone破产风险：安全区
Return on equity股本回报率 12%
Watch关注
Leverage杠杆
Net debt / EBITDA净债务/EBITDA-2.34
Current ratio流动比率22.23
Capital allocation资本配置
Stock-based comp股权薪酬$46.8M
Share count change (1y)股数变化（1年）+3.5%
Debt coming due到期债务
SEC filingsSEC 文件We do not have an SEC filing record for this listing.我们目前没有该证券的 SEC 备案记录。
This panel only reads filings an issuer makes with the SEC, and this listing has not been matched to one.本面板仅读取发行人向 SEC 提交的文件，该证券尚未匹配到对应的备案主体。
Research context only — reported figures from SEC filings, not a rating, a signal or investment advice.仅供研究参考 — 数据摘自 SEC 文件披露口径，不构成评级、信号或投资建议。
Why is it moving为何波动
6 checks · nightly六项检查 · 每晚
Macro宏观
Long-duration name into a restrictive, rising-real-rate regime → rate headwind.长久期标的进入偏紧、实际利率上行的环境→利率逆风。
Positioning持仓
Insider cluster activity内部人集中交易
Technical技术面
LGND daily MACD crossed upLGND 日线MACD上穿
Ownership & smart money持仓与聪明钱
13FInsider activity:内部人动向： -$14.3M net (0 buyers, 7 sellers)-$14.3M 净值（0 买家，7 卖家）
Signal history信号历史
engine events引擎事件
UNCONFIRMED TURN → NEARING A LOW未确认转向 → 接近低点
GET READY. Mixed structure准备。结构混合
Sep 3, 2026
LGND daily MACD crossed upLGND 日线MACD上穿
The daily MACD histogram turned positive — fast and noisy, context rather than a standalone trigger. $289.74.日线MACD柱状图转正 — 快速且嘈杂，仅作背景。$289.74。
Sep 2, 2026
DOWNTREND → UNCONFIRMED TURN下跌趋势 → 未确认转向
HIGH-RISK · NIMBLE ONLY高风险 · 仅限灵活操作
Aug 27, 2026
NEARING A HIGH → DOWNTREND接近高点 → 下跌趋势
AVOID回避
Aug 26, 2026
DOWNTREND → NEARING A HIGH下跌趋势 → 接近高点
TAKE PROFITS止盈
Aug 26, 2026
LGND StochRSI turned up from oversoldLGND StochRSI自超卖区上行
StochRSI popped back above 20 — the earliest oscillator heads-up that downside momentum is easing. $287.85.StochRSI重回20上方 — 下行动量趋缓的最早预警。$287.85。
Aug 24, 2026
LGND printed a daily-cycle lowLGND 打出日线周期低点
A confirmed local low — in this cycle framework the highest-odds long-entry window. $280.18.一个已确认的局部低点 — 在本周期框架中做多胜率最高的入场窗口。$280.18。
Aug 21, 2026
LGND weekly MACD crossed downLGND 周线MACD下穿
The weekly MACD histogram turned negative — the slower, less-whippy momentum read.周线MACD柱状图转负 — 更慢、更少来回的动量信号。
Aug 20, 2026
NEARING A LOW → DOWNTREND接近低点 → 下跌趋势
AVOID回避
Showing the last 15 of显示最近15条，共 260 signals条信号
Company profile公司档案
Ligand Pharmaceuticals is an American biopharmaceutical company that focuses on acquiring and developing royalty-generating assets. As of 2024, the company's portfolio included royalty rights to approximately 90 pharmaceutical products across a range of therapeutic areas.Ligand Pharmaceuticals 是一家美国生物制药公司，专注于收购和开发产生特许权使用费的资产。截至2024年，公司投资组合涵盖约90种跨治疗领域的药品特许权。
Style DNA — how it trades vs the market风格基因 — 相对市场的交易特征
Value价值
Below market低于市场
Quality质量
Below market低于市场
Investment资本投入
Below market低于市场
Shareholder payout股东回报
Below market低于市场
Low volatility低波动
Below market低于市场
Low market beta低市场敏感度
Below market低于市场
Earnings quality盈利质量
Above market高于市场
Short interest空头兴趣
Above market高于市场
The whole US universe — S&P 1500 and Russell 2000 — read nightly.覆盖标普1500与罗素2000全部成分股 — 每晚更新解读。
Signals, options positioning, smart-money moves and factor DNA — the same engine that wrote this page covers 2,700+ US stocks.信号、期权持仓、聪明钱动向与因子基因 — 撰写本页的引擎覆盖2700多只美股。
Statistics — full detail统计数据 — 完整明细
Valuation vs sector估值对比行业
| Multiple指标 | This stock本股 | Sector median行业中位 | Cheaper than相对便宜 |
|---|---|---|---|
| P/E (trailing)市盈率（静态） | 45.2× | 30.2× | 25% |
| Price / Book市净率 | 5.5× | 3.4× | 29% |
| Price / Sales市销率 | 21.0× | 3.1× | 4% |
| EV / EBITDAEV/EBITDA | 72.9× | 18.0× | 6% |
| Earnings yield盈利收益率 | 2.2% | 2.6% | 44% |
| Free-cash-flow yield自由现金流收益率 | 0.9% | 5.5% | 11% |
| Shareholder yield股东综合回报率 | 0.3% | 1.9% | 17% |
Relative strength相对强度
vs market, 1 month相对大盘（1个月）
88/100 — stronger than most强于多数
vs market, 3 months相对大盘（3个月）
75/100 — stronger than most强于多数
vs market, 6 months相对大盘（6个月）
80/100 — stronger than most强于多数
vs market, 12 months相对大盘（12个月）
86/100 — stronger than most强于多数
Rank in sector行业内排名
#17 / 173
0–100 percentile of total return vs all covered stocks.总回报在全部覆盖股票中的百分位（0–100）。
Price history价格历史
| Period周期 | This stock本股 | S&P 500标普500 |
|---|---|---|
| 1 Week近1周 | -0.4% | -0.8% |
| 1 Month近1月 | -3.0% | -1.1% |
| 3 Months近3月 | +11.3% | +3.3% |
| 6 Months近6月 | +40.2% | +15.7% |
| Year to date年初至今 | +49.6% | +12.2% |
| 1 Year近1年 | +70.3% | +17.2% |
| 3 Years近3年 | +353.6% | +77.4% |
Trading information交易信息
Beta vs market贝塔
0.80
Volatility rank波动率分位
9th pctile
Short interest空头占比
12.6% of float
Market cap市值
$6B
EPS (trailing)每股收益
$6.29
Off 52-week high距52周高点
-11.8%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Financials — full detail财务数据 — 完整明细
Multi-year record多年财务记录
| 20202020 | 20212021 | 20222022 | 20232023 | 20242024 | 20252025 | |
|---|---|---|---|---|---|---|
| Revenue营业收入 | $186M | $277M | $196M | $131M | $167M | $268M |
| EPS每股收益 | $-0.18 | $3.31 | $-1.98 | $2.94 | $-0.22 | $6.13 |
| Free cash flow自由现金流 | $50M | $70M | $120M | $46M | $95M | $49M |
| Gross margin毛利率 | — | — | — | — | — | — |
| Net margin净利率 | -1.6% | 20.6% | -17.0% | 39.7% | -2.4% | 46.4% |
| FCF margin自由现金流利润率 | 26.9% | 25.3% | 61.1% | 35.1% | 57.0% | 18.2% |
Latest fiscal year最近财年
Revenue (FY)营业收入（财年）
$268M
Net income净利润
$124M
Operating cash flow经营现金流
$49M
Total assets总资产
$1.6B
Shareholder equity股东权益
$1.0B
Buybacks股票回购
$15M
Shares outstanding总股本
0.02B
Returns & growth回报与增长
Return on equity股本回报率
12.2%
Return on assets资产回报率
8.0%
Asset growth资产增速
+65.7%
Accounting quality checks会计质量检查
- Earnings quality: accruals trending up over 6 fiscal years — earnings increasingly not cash-backed盈利质量：应计利润在 6 个财年间走高——盈利的现金支撑减弱
- Working capital: inventory & receivables lean vs sales营运资本：存货与应收相对销售保持精简
- Capital discipline: share count +23.0% over 6 years (dilution)资本纪律：股本 6 年增加 23.0%（稀释）
- Balance sheet: Altman Z 7.63 — safe zone资产负债表：Altman Z 7.63——安全区
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Technicals — full detail技术面 — 完整明细
Indicator readings指标读数
RSI (14-day)RSI（14日）
46
RSI (2-day)RSI（2日）
18
vs 20-day average相对20日均线
-0.8%
vs 50-day average相对50日均线
-3.8%
vs 200-day average相对200日均线
+21.5%
Golden cross (50>200)金叉（50>200）
in effect生效中
MACDMACD
above signal位于信号线上方
Timeframe alignment多周期共振
Daily日线
momentum up动能向上
3-day3日线
momentum down动能向下
Weekly周线
momentum down动能向下
When daily through monthly point the same way, moves carry further.当日线到月线方向一致时，行情往往更有延续性。
Volatility regime波动状态
Range state波幅状态
CoiledCOILED
Days compressed已压缩天数
10
Range width percentile波幅宽度分位
1/100
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Earnings — full detail财务业绩 — 完整明细
Surprise history超预期历史
| Quarter季度 | Reported实际 | Expected预期 | Surprise超预期 |
|---|---|---|---|
| Mar 2026 | $-0.67 | $0.98 | -168.4% |
| Dec 2025 | $2.12 | $0.63 | +236.5% |
| Sep 2025 | $5.68 | $1.09 | +421.1% |
| Jun 2025 | $0.24 | $0.21 | +14.3% |
Estimate revisions预期修正
Analysts covering覆盖分析师
4
Estimate direction预期调整方向
mixed分歧
Estimate change, 90 days预期变化（90天）
+5.1%
Net upgrades, 30 days净上调（30天）
+2
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Ownership — full detail持仓 — 完整明细
Insiders & shorts内部人与空头
Insider net buying (6 months)内部人净买入（6个月）
-$14.3M
Insider buyers vs sellers内部人买家vs卖家
0 : 7
Short interest空头占流通盘
12.6%
Days to cover回补天数
14.1
Short interest change空头变化
+1.3%
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。
Seasonality — full detail季节性 — 完整明细
Strongest month最强月份
Jan · 100%
Weakest month最弱月份
Aug · 25%
Month by month逐月统计
| Month月份 | Closed higher收涨占比 | Median move中位涨跌 | Years年数 |
|---|---|---|---|
| Jan1月 | 100% | +2.6% | 3 |
| Feb2月 | 100% | +5.3% | 3 |
| Mar3月 | 33% | -7.8% | 3 |
| Apr4月 | 67% | +5.2% | 3 |
| May5月 | 67% | +2.0% | 3 |
| Jun6月 | 67% | +11.0% | 3 |
| Jul7月 | 67% | +15.7% | 3 |
| Aug8月 | 25% | -0.9% | 4 |
| Sep9月 | 50% | +0.2% | 4 |
| Oct10月 | 67% | +6.0% | 3 |
| Nov11月 | 100% | +11.3% | 3 |
| Dec12月 | 33% | -6.9% | 3 |
History is a tendency, not a promise — small samples wobble.历史规律只是倾向而非保证 — 样本少时波动大。
Research context only — refreshed nightly. Not investment advice.仅供研究参考 — 每晚更新，不构成投资建议。