LGND LIGAND PHARMACEUTICALS INC Insider Trading

CLO Andrew Reardon sold 5,000 shares for $1.6M via 8 transactions on 2026-07-01 under 10b5-1 plan; retains 41.5K shares plus 34,444 options.

Andrew Reardon, CLO & Secretary, executed 8 separate sales totaling 5,000 shares for $1,566,376.99 at a blended average price of $313.28 on 2026-07-01, reducing his non-derivative holdings from 46.5K to 41.5K shares (-10.7%). This transaction is part of a pre-arranged 10b5-1 trading plan adopted on 2025-11-24, meaning it is scheduled rather than discretionary. His prior trades at LGND show five sells on 2026-06-01, each with positive 30-day returns ranging from +36.0% to +39.3%, indicating the stock moved higher after those earlier sales. Against this backdrop, the company reports latest-quarter revenue of $51.7M with net income of -$13.3M, a P/E of 41.83, and annual revenue growth of +60.4%, reflecting strong top-line momentum offset by current profitability challenges. The insider retains substantial non-derivative holdings (41.5K shares) alongside Employee Stock Option holdings of 34,444 shares remaining.

Director Jason Haas sold 6,461 shares for $1,651,320.20 at LGND; retains 4,981 non-derivative shares plus 13,276 derivative holdings.

Jason Haas sold 6,461 shares across 2 transactions on 2026-06-12 at prices of $255.01 and $256.08, for a combined $1,651,320.20. His non-derivative holdings dropped from 11,442 to 4,981 shares, representing a 56.5% reduction of his non-derivative position. However, the FLAG section clarifies that his overall position remains substantial: he retains 7,138 and 6,138 non-qualified stock options, totaling 13,276 derivative shares. The current stock price of $253.25 is only 2.2% below the 52-week high of $259.03, and the stock has advanced 18.8% over the past 30 days and 20.0% over 90 days. Fundamentals show annual revenue growth of 60.4% but negative net income of $-13,345,000.00 on $51,722,000.00 quarterly revenue, with a P/E of 33.06. This sale represents a scheduled reduction of a specific tranche of shares, not a portfolio exit, given his substantial remaining derivative position.

Director Jason Aryeh sold 5,000 shares of LGND for $1,250,000.00 in two transactions at $250.00

Jason Aryeh, a Director at Ligand Pharmaceuticals, executed 2 separate sales totaling 5,000 shares for $1,250,000.00 on 2026-06-10 and 2026-06-11 at $250.00, reducing his non-derivative holdings from 107,580 to 102,580 shares (-4.6% of pre-transaction holdings). The sales occurred near the 52-week high of $259.03, with the stock at $255.54 currently and up 15.5% over 30 days and 25.9% over 90 days, providing favorable pricing context. Aryeh retains 2,938 shares in non-qualified stock options and maintains significant ongoing exposure through derivative holdings. His prior 3 sales at LGND showed 90-day returns of +16.2%, +15.8%, and +15.1%, indicating his past sales at this ticker did not precede stock declines, though this partial sale does not signal full-position exit given remaining derivative holdings.

Director John L Lamattina sold 4,591 shares of LGND for $1,151,774.29 across 4 transactions on 2026-06-10

John L Lamattina, a Director at Ligand Pharmaceuticals, executed 4 separate sales totaling 4,591 shares for $1,151,774.29 on 2026-06-10, reducing his holdings from 31,560 shares to 26,969 shares (a 14.5% reduction in stake). The stock has appreciated 15.5% over the past 30 days and 25.9% over 90 days, and currently trades at $255.54, marginally below its 52-week high of $259.03. Ligand reported a latest-quarter net loss of $-13,345,000.00 despite annual revenue growth of 60.4% year-over-year, reflecting operational challenges despite strong top-line expansion.

CLO Andrew Reardon sells 5,000 shares at blended avg $227.06 via scheduled 10b5-1 plan; retains 41,382 shares plus 39,444 option shares.

Andrew Reardon, CLO & Secretary, executed 7 separate sales totaling 5,000 shares for $1,135,315.57 on 2026-06-01 under a pre-arranged 10b5-1 trading plan adopted on 2025-11-24, indicating this transaction was scheduled rather than discretionary. The insider retains 41,382 non-derivative shares post-sale, plus 39,444 shares in unexercised stock options, so the overall position remains materially intact. LGND's fundamentals show revenue growth of 60.4% year-over-year alongside a net loss of $13,345,000 in the latest quarter, suggesting the company is in a growth-but-not-yet-profitable phase. His prior 5 sales at LGND showed mixed near-term outcomes (30-day and 90-day returns ranging from -0.9% to +2.0%), offering no clear pattern of well-timed exits specific to this ticker. As a scheduled execution within his plan rather than a discretionary decision, this sale should not be interpreted as a timing call by the insider.

CLO Andrew Reardon sells 5,000 shares at $231.31 avg price via 10b5-1 plan; holds 41,382 shares post-sale

Andrew Reardon, CLO & Secretary, executed 7 separate sales totaling 5,000 shares for $1,156,555.60 on 2026-05-01 under a pre-arranged 10b5-1 trading plan adopted on 2025-11-24. The current stock price of $218.98 is -11.5% from the 52-week high of $247.38 and -5.8% over the trailing 30 days, though +19.1% over 90 days. Reardon retains 41,382 shares post-transaction, representing a -10.8% reduction from his prior 46,382 share position. Because this sale is part of a scheduled 10b5-1 plan rather than a discretionary trade, the timing reflects a pre-established execution schedule rather than a current market or operational signal.

CLO Reardon sells 5,000 LGND shares at $198.85–$204.50 for $1.0M on 2026-04-01

Reardon Andrew, CLO & Secretary, executed 6 separate sales totaling 5,000 shares for $1,006,224.10 at prices ranging from $198.85 to $204.50, reducing his holdings by 10.8% to 41,382 shares post-transaction. The current stock price of $199.59 sits 9.8% below the 52-week high of $221.24, and his cross-ticker track record shows 12 prior sells with a 90-day well-timed rate of 0.00%, indicating historically poor timing on exit decisions. LGND fundamentals remain robust with net income of $117,273,000.00 exceeding revenue of $115,461,000.00 in the latest quarter and annual revenue growth of +60.4%, yet the insider's recent prior sales at this ticker (5 trades on 2026-03-04, outcomes not yet measurable) combined with this substantial multi-tranche liquidation warrant monitoring of whether liquidity needs or valuation concerns are driving executive disposition patterns.

CFO Espinoza sells 3,057 shares of LGND at $225.00 for $687,825; reduces stake by -12.7% to 21,010 shares

Espinoza, the CFO of Ligand Pharmaceuticals, sold 3,057 shares at $225.00 on 2026-03-11 for a total value of $687,825.00, reducing his holdings from 24,067 to 21,010 shares. The transaction occurred at a price 11.1% above the current price of $202.91, and notably, this sale follows an unusually active period with 5 separate sales executed on 2026-03-04 (outcomes not yet measurable at 90 days). His cross-ticker historical track record shows 16 prior sells with a 20.00% well-timed rate and an average 90-day return of +12.7% after sells—indicating his prior sells have not typically preceded declines. The company reports strong fundamentals with annual revenue growth of +60.4%, net income of $117,273,000.00 exceeding quarterly revenue of $115,461,000.00, and a P/E of 22.85. The concentrated selling pattern (multiple sales within a week) warrants observation to determine whether this reflects a sustained directional view or tactical rebalancing.

CFO Octavio Espinoza sells 13,423 shares of LGND for $2.8M in 11 transactions on 2026-03-04

Chief Financial Officer Octavio Espinoza executed 11 separate sales totaling 13,423 shares for $2,762,822.25 on 2026-03-04, reducing his holdings by 38.3% from 35,085 to 21,662 shares. The transactions were executed at prices ranging from $198.71 to $208.80, with a blended average of $205.83, compared to the current price of $201.90. His prior trading history at LGND shows mixed timing: his two 2025 buys generated strong 90-day returns (+40.8% and +40.2%), while his three prior sells at this ticker produced a negative 90-day return of -11.6% in one instance and positive returns of +19.0% in two others. Given LGND's current valuation metrics (P/E of 22.74, recent 60.4% annual revenue growth, and net income of $117.3M on quarterly revenue of $115.5M), the sale represents a significant position reduction by a senior executive with mixed timing results on prior transactions at this ticker.

CLO Andrew Reardon sold 5,000 shares at blended avg $206.35 on 2026-03-04; post-sale holdings 36,869 shares.

Andrew Reardon, CLO & Secretary, executed 11 separate sales totaling 5,000 shares for $1,031,770.27 on 2026-03-04 at prices ranging from $197.70 to $208.12, with a blended average price of $206.35. This represents an 11.9% reduction in his holdings, from 41,869 to 36,869 shares. At LGND, his prior sell on 2024-05-09 was followed by a 90-day return of +12.4%, indicating that sale was poorly timed relative to subsequent price appreciation. The current stock price of $201.90 is 3.5% below the 52-week high of $209.29, and his transaction prices were at or near recent peak levels, occurring within 2.4% of the 52-week high. The company shows strong financial momentum: revenue of $115.5M in the latest quarter, net income of $117.3M, 60.4% annual revenue growth, and a P/E of 22.74.