Biotechnology
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CASI vs LEGN vs IMVT vs ZLAB
Revenue, margins, valuation, and 5-year total return — side by side.
Biotechnology
Biotechnology
Biotechnology
CASI vs LEGN vs IMVT vs ZLAB — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||||
|---|---|---|---|---|
| Industry | Biotechnology | Biotechnology | Biotechnology | Biotechnology |
| Market Cap | $2M | $5.19B | $5.88B | $2.06B |
| Revenue (TTM) | $27M | $1.03B | $0.00 | $453M |
| Net Income (TTM) | $-49M | $-297M | $-464M | $-178M |
| Gross Margin | 35.8% | 60.3% | — | 57.9% |
| Operating Margin | -168.0% | -13.2% | — | -53.5% |
| Forward P/E | — | 116.2x | — | — |
| Total Debt | $22M | $414M | $98K | $224M |
| Cash & Equiv. | $13M | $902M | $714M | $680M |
CASI vs LEGN vs IMVT vs ZLAB — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | Jun 20 | Mar 26 | Return |
|---|---|---|---|
| CASI Pharmaceutical… (CASI) | 100 | 0.6 | -99.4% |
| Legend Biotech Corp… (LEGN) | 100 | 44.6 | -55.4% |
| Immunovant, Inc. (IMVT) | 100 | 113.9 | +13.9% |
| Zai Lab Limited (ZLAB) | 100 | 23.4 | -76.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CASI vs LEGN vs IMVT vs ZLAB
Each card shows where this stock fits in a portfolio — not just who wins on paper.
CASI is the clearest fit if your priority is dividends.
- 31.1% yield; the other 3 pay no meaningful dividend
LEGN carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- beta 0.76
- Rev growth 64.5%, EPS growth -66.0%, 3Y rev CAGR 106.6%
- Lower volatility, beta 0.76, Low D/E 41.3%, current ratio 1.96x
- Beta 0.76, current ratio 1.96x
IMVT is the #2 pick in this set and the best alternative if long-term compounding is your priority.
- 190.9% 10Y total return vs LEGN's -24.0%
- 3.2% margin vs CASI's -183.9%
- +102.4% vs CASI's -92.2%
ZLAB is the clearest fit if your priority is efficiency.
- -15.5% ROA vs CASI's -131.5%, ROIC -41.7% vs -153.0%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 64.5% revenue growth vs IMVT's -21.3% | |
| Quality / Margins | 3.2% margin vs CASI's -183.9% | |
| Stability / Safety | Beta 0.76 vs IMVT's 1.36 | |
| Dividends | 31.1% yield; the other 3 pay no meaningful dividend | |
| Momentum (1Y) | +102.4% vs CASI's -92.2% | |
| Efficiency (ROA) | -15.5% ROA vs CASI's -131.5%, ROIC -41.7% vs -153.0% |
CASI vs LEGN vs IMVT vs ZLAB — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
CASI vs LEGN vs IMVT vs ZLAB — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
LEGN leads in 1 of 6 categories
CASI leads 1 • IMVT leads 1 • ZLAB leads 0 • 2 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
LEGN leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
LEGN and IMVT operate at a comparable scale, with $1.0B and $0 in trailing revenue. LEGN is the more profitable business, keeping -28.8% of every revenue dollar as net income compared to CASI's -183.9%. On growth, LEGN holds the edge at +64.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||||
|---|---|---|---|---|
| RevenueTrailing 12 months | $27M | $1.0B | $0 | $453M |
| EBITDAEarnings before interest/tax | -$44M | -$107M | -$487M | -$231M |
| Net IncomeAfter-tax profit | -$49M | -$297M | -$464M | -$178M |
| Free Cash FlowCash after capex | $0 | -$231M | -$423M | -$108M |
| Gross MarginGross profit ÷ Revenue | +35.8% | +60.3% | — | +57.9% |
| Operating MarginEBIT ÷ Revenue | -168.0% | -13.2% | — | -53.5% |
| Net MarginNet income ÷ Revenue | -183.9% | -28.8% | — | -39.3% |
| FCF MarginFCF ÷ Revenue | -103.2% | -22.4% | — | -23.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | -60.5% | +64.9% | — | -6.5% |
| EPS Growth (YoY)Latest quarter vs prior year | -23.6% | -2.2% | +19.7% | -11.1% |
Valuation Metrics
CASI leads this category, winning 2 of 3 comparable metrics.
Valuation Metrics
| Metric | ||||
|---|---|---|---|---|
| Market CapShares × price | $2M | $5.2B | $5.9B | $2.1B |
| Enterprise ValueMkt cap + debt − cash | $11M | $4.7B | $5.2B | $1.6B |
| Trailing P/EPrice ÷ TTM EPS | -0.06x | -8.73x | -10.60x | -11.63x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 116.25x | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — |
| EV / EBITDAEnterprise value multiple | — | — | — | — |
| Price / SalesMarket cap ÷ Revenue | 0.08x | 5.03x | — | 4.47x |
| Price / BookPrice ÷ Book value/share | 1.25x | 2.59x | 6.20x | 2.85x |
| Price / FCFMarket cap ÷ FCF | — | — | — | — |
Profitability & Efficiency
Evenly matched — LEGN and IMVT and ZLAB each lead in 3 of 9 comparable metrics.
Profitability & Efficiency
ZLAB delivers a -24.3% return on equity — every $100 of shareholder capital generates $-24 in annual profit, vs $-3 for CASI. IMVT carries lower financial leverage with a 0.00x debt-to-equity ratio, signaling a more conservative balance sheet compared to CASI's 11.96x. On the Piotroski fundamental quality scale (0–9), ZLAB scores 3/9 vs IMVT's 2/9, reflecting mixed financial health.
| Metric | ||||
|---|---|---|---|---|
| ROE (TTM)Return on equity | -3.0% | -29.2% | -47.1% | -24.3% |
| ROA (TTM)Return on assets | -131.5% | -17.6% | -44.1% | -15.5% |
| ROICReturn on invested capital | -153.0% | -12.7% | — | -41.7% |
| ROCEReturn on capital employed | -104.6% | -11.0% | -66.1% | -27.2% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 2 | 2 | 3 |
| Debt / EquityFinancial leverage | 11.96x | 0.41x | 0.00x | 0.31x |
| Net DebtTotal debt minus cash | $9M | -$488M | -$714M | -$455M |
| Cash & Equiv.Liquid assets | $13M | $902M | $714M | $680M |
| Total DebtShort + long-term debt | $22M | $414M | $98,000 | $224M |
| Interest CoverageEBIT ÷ Interest expense | -66.88x | -12.69x | — | -81.89x |
Total Returns (Dividends Reinvested)
IMVT leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in IMVT five years ago would be worth $18,445 today (with dividends reinvested), compared to $104 for CASI. Over the past 12 months, IMVT leads with a +102.4% total return vs CASI's -92.2%. The 3-year compound annual growth rate (CAGR) favors IMVT at 14.4% vs CASI's -60.8% — a key indicator of consistent wealth creation.
| Metric | ||||
|---|---|---|---|---|
| YTD ReturnYear-to-date | -81.6% | +30.7% | +11.7% | +7.3% |
| 1-Year ReturnPast 12 months | -92.2% | -12.2% | +102.4% | -36.2% |
| 3-Year ReturnCumulative with dividends | -94.0% | -59.1% | +49.8% | -49.7% |
| 5-Year ReturnCumulative with dividends | -99.0% | -4.2% | +84.4% | -87.6% |
| 10-Year ReturnCumulative with dividends | -99.0% | -24.0% | +190.9% | -33.4% |
| CAGR (3Y)Annualised 3-year return | -60.8% | -25.8% | +14.4% | -20.5% |
Risk & Volatility
Evenly matched — CASI and IMVT each lead in 1 of 2 comparable metrics.
Risk & Volatility
CASI is the less volatile stock with a -0.22 beta — it tends to amplify market swings less than IMVT's 1.36 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. IMVT currently trades 96.2% from its 52-week high vs CASI's 4.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||||
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | -0.22x | 0.76x | 1.36x | 1.17x |
| 52-Week HighHighest price in past year | $3.09 | $45.30 | $30.09 | $44.34 |
| 52-Week LowLowest price in past year | $0.05 | $16.24 | $13.36 | $15.96 |
| % of 52W HighCurrent price vs 52-week peak | +4.9% | +62.1% | +96.2% | +41.9% |
| RSI (14)Momentum oscillator 0–100 | 24.2 | 74.8 | 50.6 | 41.0 |
| Avg Volume (50D)Average daily shares traded | 55K | 1.9M | 1.4M | 743K |
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Analyst consensus: LEGN as "Buy", IMVT as "Buy", ZLAB as "Buy". Consensus price targets imply 105.9% upside for LEGN (target: $58) vs 57.2% for IMVT (target: $46). CASI is the only dividend payer here at 31.10% yield — a key consideration for income-focused portfolios.
| Metric | ||||
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | — | $57.89 | $45.50 | $35.00 |
| # AnalystsCovering analysts | — | 19 | 23 | 11 |
| Dividend YieldAnnual dividend ÷ price | +31.1% | — | — | — |
| Dividend StreakConsecutive years of raises | 0 | — | — | — |
| Dividend / ShareAnnual DPS | $0.05 | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | 0.0% | 0.0% |
LEGN leads in 1 of 6 categories (Income & Cash Flow). CASI leads in 1 (Valuation Metrics). 2 tied.
CASI vs LEGN vs IMVT vs ZLAB: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is CASI or LEGN or IMVT or ZLAB a better buy right now?
For growth investors, Legend Biotech Corporation (LEGN) is the stronger pick with 64.
5% revenue growth year-over-year, versus -15. 8% for CASI Pharmaceuticals, Inc. (CASI). Analysts rate Legend Biotech Corporation (LEGN) a "Buy" — based on 19 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — CASI or LEGN or IMVT or ZLAB?
Over the past 5 years, Immunovant, Inc.
(IMVT) delivered a total return of +84. 4%, compared to -99. 0% for CASI Pharmaceuticals, Inc. (CASI). Over 10 years, the gap is even starker: IMVT returned +190. 9% versus CASI's -99. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — CASI or LEGN or IMVT or ZLAB?
By beta (market sensitivity over 5 years), CASI Pharmaceuticals, Inc.
(CASI) is the lower-risk stock at -0. 22β versus Immunovant, Inc. 's 1. 36β — meaning IMVT is approximately -711% more volatile than CASI relative to the S&P 500. On balance sheet safety, Immunovant, Inc. (IMVT) carries a lower debt/equity ratio of 0% versus 12% for CASI Pharmaceuticals, Inc. — giving it more financial flexibility in a downturn.
04Which is growing faster — CASI or LEGN or IMVT or ZLAB?
By revenue growth (latest reported year), Legend Biotech Corporation (LEGN) is pulling ahead at 64.
5% versus -15. 8% for CASI Pharmaceuticals, Inc. (CASI). On earnings-per-share growth, the picture is similar: Zai Lab Limited grew EPS 38. 5% year-over-year, compared to -66. 0% for Legend Biotech Corporation. Over a 3-year CAGR, LEGN leads at 106. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — CASI or LEGN or IMVT or ZLAB?
Immunovant, Inc.
(IMVT) is the more profitable company, earning 0. 0% net margin versus -137. 6% for CASI Pharmaceuticals, Inc. — meaning it keeps 0. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: IMVT leads at 0. 0% versus -138. 8% for CASI. At the gross margin level — before operating expenses — LEGN leads at 60. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is CASI or LEGN or IMVT or ZLAB more undervalued right now?
Analyst consensus price targets imply the most upside for LEGN: 105.
9% to $57. 89.
07Which pays a better dividend — CASI or LEGN or IMVT or ZLAB?
In this comparison, CASI (31.
1% yield) pays a dividend. LEGN, IMVT, ZLAB do not pay a meaningful dividend and should not be held primarily for income.
08Is CASI or LEGN or IMVT or ZLAB better for a retirement portfolio?
For long-horizon retirement investors, CASI Pharmaceuticals, Inc.
(CASI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0. 22), 31. 1% yield). Both have compounded well over 10 years (CASI: -99. 0%, IMVT: +190. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between CASI and LEGN and IMVT and ZLAB?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: CASI is a small-cap income-oriented stock; LEGN is a small-cap high-growth stock; IMVT is a small-cap quality compounder stock; ZLAB is a small-cap high-growth stock. CASI pays a dividend while LEGN, IMVT, ZLAB do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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