LGND
Ligand Pharmaceuticals Incorporated
LGND's outlook is improving, though it still trails on the overall score.
OSCR
Oscar Health, Inc.
OSCR has the edge over LGND overall, supported by stronger modeled upside and lower modeled downside.
LGND Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Stable | |
| Strong | |
| Weak |
LGND's cash flow is currently strong, and its profitability is stable, but its revenue and balance sheet are under pressure.
OSCR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Strong |
OSCR's revenue, profitability, cash flow and balance sheet are all currently healthy.
LGND PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 25x | $62.36 | -80% |
| Forward | 29x | $316 | — |
| Fair | 42x | $106 | -67% |
| Expensive | 67x | $170 | -46% |
| Current | 125x | $316 | — |
Historical ranges are pointers, not guarantees.
LGND's PE is in its expensive range at 125x, but its recent earnings include one-off gains. If earnings grow as analysts expect, today's price would be 29x next year's earnings, in its cheap range.
OSCR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $31.94 | — |
| Current | 13x | $31.94 | — |
| Cheap | 21x | $52.73 | +65% |
| Fair | 35x | $87.23 | +173% |
| Expensive | 130x | $322 | +907% |
Historical ranges are pointers, not guarantees.
OSCR has the edge over LGND in the historical PE scenario, which offers more potential upside but is not a forecast.
LGND Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for LGND, with profitability improving.
OSCR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for OSCR, with profitability improving.
LGND Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $10.93 | +330% |
| Q3 2026 | $2.54 | +26% |
| Q2 2026 | $9.65 | +$13.71 |
| Q1 2026 | $7.67 | +$14.85 |
| Q4 2025 | $6.13 | +$6.35 |
| Q3 2025 | $2.01 | -21% |
| Q2 2025 | -$4.06 | -273% |
| Q1 2025 | -$7.18 | -234% |
| Q4 2024 | -$0.22 | -107% |
LGND's earnings per share have fallen from their peak: $2.54 over the past year, against $29.34 in late 2019. Its recent earnings include one-off gains.
OSCR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.61 | +5.6% |
| Q3 2026 | $2.47 | +$3.47 |
| Q2 2026 | $1.45 | +$2.14 |
| Q1 2026 | -$0.54 | -235% |
| Q4 2025 | -$1.69 | -1790% |
| Q3 2025 | -$1.00 | -$0.92 |
| Q2 2025 | -$0.69 | -$0.54 |
| Q1 2025 | $0.40 | +$0.82 |
| Q4 2024 | $0.10 | +$1.32 |
OSCR has returned to profit: it earned $2.47 per share over the past year, after losing money the year before.
LGND Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $78.7M | -32% |
| Q2 2026 | $63.7M | +34% |
| Q1 2026 | $51.7M | +14% |
| Q4 2025 | $59.7M | +39% |
| Q3 2025 | $115.5M | +123% |
| Q2 2025 | $47.6M | +15% |
| Q1 2025 | $45.3M | +46% |
| Q4 2024 | $42.8M | +52% |
LGND's revenue fell from its 2025 peak and has held roughly level since: $79M last quarter, down 32% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -20% | -68 points |
| Q2 2026 | 13% | -4.2 points |
| Q1 2026 | 34% | +114 points |
| Q4 2025 | 23% | +46 points |
| Q3 2025 | 48% | +42 points |
| Q2 2025 | 18% | +64 points |
| Q1 2025 | -80% | -90 points |
| Q4 2024 | -23% | -11 points |
LGND's operating margin was −20% last quarter, down 68 points from the same quarter a year ago.
OSCR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.1B | +72% |
| Q2 2026 | $4.9B | +70% |
| Q1 2026 | $4.6B | +53% |
| Q4 2025 | $2.8B | +17% |
| Q3 2025 | $3B | +23% |
| Q2 2025 | $2.9B | +29% |
| Q1 2025 | $3B | +42% |
| Q4 2024 | $2.4B | +67% |
OSCR has the edge over LGND on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.5% | +7.8 points |
| Q2 2026 | 8% | +16 points |
| Q1 2026 | 15% | +5.4 points |
| Q4 2025 | -12% | -5.7 points |
| Q3 2025 | -4.3% | -2.3 points |
| Q2 2025 | -8.1% | -11 points |
| Q1 2025 | 9.8% | +1.1 points |
| Q4 2024 | -6.2% | +4 points |
OSCR has the edge over LGND on profitability, with a higher operating margin.
LGND Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$27.7M | -312% |
| Q2 2026 | $24M | +54% |
| Q1 2026 | $48.5M | +$74.1M |
| Q4 2025 | $45.9M | +65% |
| Q3 2025 | $13.1M | -64% |
| Q2 2025 | $15.6M | +21% |
| Q1 2025 | -$25.7M | -238% |
| Q4 2024 | $27.8M | +263% |
LGND usually generates cash, though not every quarter: the latest was −$28M, but it generated $91M over the past year.
OSCR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.2B | -$238.2M |
| Q2 2026 | $2.1B | +316% |
| Q1 2026 | $2.6B | +200% |
| Q4 2025 | $662.8M | +95% |
| Q3 2025 | -$973.7M | -$466M |
| Q2 2025 | $499.8M | +2.1% |
| Q1 2025 | $869.5M | +38% |
| Q4 2024 | $340M | +17% |
OSCR has the edge over LGND on cash flow, with more consistent year-over-year improvement.
LGND Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -8.6% | -1.9M shares |
| 1 year | -3.2% | -667K shares |
| 3 years | +15% | +2.6M shares |
| 5 years | +16% | +2.8M shares |
| Available history | +16% | +2.7M shares |
LGND has the edge over OSCR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q4 2025 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | $4.7M |
| Q3 2020 | — |
OSCR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.9% | +13M shares |
| 1 year | +34% | +87.2M shares |
| 3 years | +55% | +123M shares |
| 5 years | +66% | +138M shares |
| Available history | +71% | +143M shares |
OSCR has 346M diluted shares, up 34% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
LGND Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 18.2x | High |
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | -0.9x | Net Cash |
| Q4 2025 | -2.3x | Net Cash |
| Q3 2025 | -2.7x | Net Cash |
| Q2 2025 | -104.6x | Net Cash |
| Q4 2024 | -5.7x | Net Cash |
| Q3 2024 | -3.3x | Net Cash |
LGND's net debt is about 18 years of its operating earnings (EBITDA), after holding more cash than debt a year ago.
OSCR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -4.2x | Net Cash |
| Q2 2026 | -5.5x | Net Cash |
| Q1 2026 | -110.0x | Net Cash |
| Q1 2025 | -9.7x | Net Cash |
| Q4 2024 | -13.7x | Net Cash |
| Q3 2024 | -10.1x | Net Cash |
| Q2 2024 | -24.0x | Net Cash |
| Q1 2024 | -217.7x | Net Cash |
OSCR has the edge over LGND on leverage, with a lower net debt burden relative to earnings.
LGND Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.7 | Neutral |
| Stochastic | 80.9 | Overbought |
LGND's weekly RSI is 65 (neutral) and its Stochastic is 81 (overbought).
OSCR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.7 | Neutral |
| Stochastic | 44.9 | Neutral |
OSCR's weekly RSI is 59 (neutral) and its Stochastic is 45 (neutral).
LGND PE vs Healthcare Sector
| Metric | LGND | Sector median | Relative |
|---|---|---|---|
| PE | 125x | 26x | 382% above |
| PE % | 100 | 29 | 71 pts above |
LGND is trading at 125x earnings, a 382% premium to the Healthcare sector's median of 26x, though its recent earnings include one-off gains.
OSCR PE vs Healthcare Sector
| Metric | OSCR | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 26x | 50% below |
| PE % | 3 | 35 | 32 pts below |
OSCR has the edge over LGND on valuation relative to its sector.
LGND Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $306.3 | 3.2% above |
| 20 week MA | $299.3 | 5.7% above |
| 50 week MA | $247.3 | 28% above |
| 100 week MA | $191.1 | 66% above |
| 200 week MA | $135.3 | 134% above |
LGND is in an uptrend: it's above all five of its weekly moving averages, and 134% above its 200-week average.
OSCR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.2 | 2.3% above |
| 20 week MA | $31.1 | 2.8% above |
| 50 week MA | $22.9 | 39% above |
| 100 week MA | $19.3 | 65% above |
| 200 week MA | $15.5 | 106% above |
OSCR is in an uptrend: it's above all five of its weekly moving averages, and 106% above its 200-week average.
LGND Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $66.7 | $66.2 | -0.8% |
| 2021 | $66.2 | $100.6 | +52% |
| 2022 | $100.6 | $67.3 | -33% |
| 2023 | $67.3 | $71.4 | +6.1% |
| 2024 | $71.4 | $109.2 | +53% |
| 2025 | $109.2 | $195.8 | +79% |
| 2026 YTD | $195.8 | $316.3 | +62% |
LGND has finished higher in four of the last six years, three of them by more than 50%. It's up 62% so far in 2026.
OSCR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $31.0 | $8.02 | -74% |
| 2022 | $8.02 | $2.21 | -72% |
| 2023 | $2.21 | $9.15 | +314% |
| 2024 | $9.15 | $13.8 | +51% |
| 2025 | $13.8 | $14.9 | +8% |
| 2026 YTD | $14.9 | $31.9 | +114% |
OSCR has the edge over LGND on returns for 2026, with the stronger performance.