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LEGNLegend Biotech Corporation
$23.40$4.3B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
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LEGN logo

Legend Biotech Corporation

LEGN
NASDAQ · Cell & Gene Therapy
$23.40
At close - Nov 6, 4:00 PM EST - USD
Market Cap$4.33B
P/E-49.5x
52W High$37.50
Volume1.76M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Carvykti Scaling Drives First Profit, But Cash Burn Persists

Legend Biotech is demonstrating successful commercial execution for its CAR-T therapy Carvykti, with revenue accelerating to $387.5M in 2026Q2 and achieving its first positive operating income of $57.7M.

GrowthAccelerating
ProfitabilityModerate
ValuationReview
TechnicalsNeutral
Explore valuation models
MARKET ACTION

LEGN price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

9/12 Beats

EPS beat 9 of last 12 quarters

02

Valuation risk

-235% Peers

P/E is 235% below peer median

03

Market leadership

RS 71 · Avg

Average momentum (RS Rating: 71)

04

Trend Check

N/A

Trend data unavailable

Next CatalystConfirmed earnings · Nov 10
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth accelerated to 51.9% YoY in 2026Q2, driving a dramatic shift to a 14.9% operating margin, though gross margin volatility (42.3% to 73.0% over ten quarters) suggests ongoing scaling challenges.

Analyst Consensus+160.7% target
Buy(20 analysts)
14 Buy6 Hold0 Sell

The Bull Case

Upside Catalysts

Innovative therapies

Legend Biotech is focused on developing cutting-edge treatments for hematological malignancies and solid tumors, driving long-term shareholder value.

Clinical updates

Regular clinical updates and presentations at key events like ASCO highlight progress in Legend Biotech's pipeline.

SEC filings transparency

Comprehensive SEC filings provide detailed insights into CARVYKTI sales, governance, and risk disclosures, enhancing investor confidence.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
LEGN+8.79%
S&P 500 (^GSPC)+7.63%
1-Year Return
LEGN-27.71%
S&P 500 (^GSPC)+9.69%
3-Year Return
LEGN-64.49%
S&P 500 (^GSPC)+72.53%
5-Year Return
LEGN-51.15%
S&P 500 (^GSPC)+61.49%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-49.5x
Forward P/E
N/A
EV/EBITDA
N/A
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-49.5x
N/A
N/A
EV/EBITDA
N/A
N/A
N/A
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$9.02-61.5%
Base (Fair)$49.05+109.6%
Bull$14.33-38.8%
$9.02 Bear$49.05 Base$14.33 Bull
Current Market Price: $23.40
Trades at a 52.3% discount to Base DCF ($49.05)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$1.03B+64.0% YoY
Net income FY25
-$297M-67.7% YoY
Free cash flow FY25
-$168M-6.3% YoY
Operating margin FY25
-13.3%+35.1 pts YoY
ROIC (FY25)-12.7%
Avg ROIC 5Y-98.1%
ROE (TTM)-8.7%
Piotroski Score2 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate9/12 (75%)
Revenue Beat Rate6/12 (50%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 11, 2026
$0.09-25.0%
vs $0.12
$388M+8.9%
vs $356M
Q2 2026
May 12, 2026
-$0.15-650.0%
vs -$0.02
$305M-0.5%
vs $307M
Q2 2026
Mar 10, 2026
-$0.08+52.9%
vs -$0.17
$306M-0.5%
vs $308M
Q4 2025
Nov 12, 2025
-$0.11+15.4%
vs -$0.13
$272M-0.8%
vs $274M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
GlobeNewsWire·3d ago
Legend Biotech to Showcase CARVYKTI® Leadership and Next-Generation Cell Therapy Innovation at ASH 2026

New CARTITUDE-4 subgroup analyses provide further insights into durable clinical outcomes with CARVYKTI in earlier-line treatment Updated data to be presented from first-in-human trial of LB2501, an investigational, off-the-shelf in vivo CAR-T therapy designed to generate dual-targeting CD19/CD20 CAR-T cells BRIDGEWATER, N.J., Nov. 04, 2026 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, today announced that multiple abstracts were accepted for the 2026 American Society of Hematology (ASH) Annual Meeting, taking place December 12–15 in New Orleans, Louisiana.

Zacks Investment Research·Oct 29, 2026
Legend Biotech Corporation Sponsored ADR (LEGN) Recently Broke Out Above the 200-Day Moving Average

From a technical perspective, Legend Biotech Corporation Sponsored ADR (LEGN) is looking like an interesting pick, as it just reached a key level of support. LEGN recently overtook the 200-day moving average, and this suggests a long-term bullish trend.

Zacks Investment Research·Oct 27, 2026
Legend Biotech Corporation Sponsored ADR (LEGN) Crossed Above the 50-Day Moving Average: What That Means for Investors

After reaching an important support level, Legend Biotech Corporation Sponsored ADR (LEGN) could be a good stock pick from a technical perspective. LEGN surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.

GlobeNewsWire·Oct 27, 2026
Legend Biotech to Host Investor Conference Call on Third Quarter 2026 Results

BRIDGEWATER N.J., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, will host a conference call for investors at 8:00 a.m.

Filtered for Legend Biotech CorporationMore Headlines
04

Compare before deciding

Benchmark LEGN against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Legend Biotech Corporation (LEGN)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
LEGN logoLEGNLegend Biotech CorporationCurrent
$23.40$4.33B-49.5064.04%-7.21%-8.7%—
FATE logoFATEFate Therapeutics, Inc.
$1.84$214.47M-1.83-51.24%-2619.64%-73.92%—
CRSP logoCRSPCRISPR Therapeutics AG
$50.07$4.83B-10.62-89.97%-1812.07%-25.59%—
BEAM logoBEAMBeam Therapeutics Inc.
$26.41$2.72B-25.82120.01%-73.04%-9.69%—
NTLA logoNTLAIntellia Therapeutics, Inc.
$11.35$1.27B-3.7316.92%-805.75%-64.73%—
EDIT logoEDITEditas Medicine, Inc.
$2.57$394.4M-4.1525.39%-157.32%-196.63%—

Compare LEGN vs Peers

Legend Biotech Corporation (LEGN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs FATE

Most directly comparable listed peer for LEGN.

Scale Benchmark

vs JNJ

Larger-name benchmark to compare LEGN against a more recognizable public peer.

Peer Set

Compare Top 5

vs FATE, CRSP, BEAM, NTLA

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LEGN Frequently Asked Questions

Legend Biotech Corporation (LEGN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Legend Biotech Corporation's revenue?

Legend Biotech Corporation (LEGN) reported $1.27B in revenue over the trailing twelve months. Revenue was $1.03B in fiscal year 2025. That is 4261% more than the $23.6M of fiscal year 2017.

How fast is Legend Biotech Corporation growing?

Legend Biotech Corporation (LEGN) grew revenue by 59.5% over the trailing twelve months, compared with the twelve months before.

Is LEGN profitable?

No. Legend Biotech Corporation (LEGN) reported a net loss of $91.6M over the trailing twelve months.

Dividend & Returns
What is LEGN's return on equity?

Legend Biotech Corporation (LEGN) had a return on equity (ROE) of -8.7% over the trailing twelve months. A negative ROE means the company lost money over the period.

What is Legend Biotech Corporation's free cash flow?

Legend Biotech Corporation (LEGN) had negative free cash flow of $255.6M over the trailing twelve months.

What if you invested $1,000 in LEGN back in 2017?

Total return calculator · dividends reinvested · 9+ years of data

See returns →