A Ligand Pharmaceuticals (LGND) Insider Sold 5,000 Shares for $1.1 Million

Andrew Reardon, CLO & Secretary at Ligand Pharmaceuticals, sold 5,000 shares worth approximately $1.14 million on June 1, 2026, through the exercise and immediate disposition of stock options. Post-transaction, Reardon retains 41,382 shares and 39,444 employee stock options. The analyst views this as income supplementation rather than a loss of confidence, noting Ligand's strong 123.61% one-year return and growing royalty revenue (up 56% YoY in Q1), though Captisol sales declined.