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LEGNLegend Biotech Corporation
$18.45$3.4B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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LEGN logo

Legend Biotech Corporation

LEGN
NASDAQ · Biotechnology
$18.45
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$3.41B
P/E-11.5x
52W High$37.50
Volume2.41M
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. However, the company's growth is not yet self-funding, a...

GrowthAccelerating
ProfitabilityModerate
ValuationReview
TechnicalsWeak
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

-125% Peers

P/E is 125% below peer median

03

Market leadership

RS 19 · Lag

Laggard (Underperforming 81% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystConfirmed earnings · Nov 11
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+204.3% target
Buy(20 analysts)
15 Buy5 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 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
LEGN-14.23%
S&P 500 (^GSPC)+12.39%
1-Year Return
LEGN-43.97%
S&P 500 (^GSPC)+15.77%
3-Year Return
LEGN-70.89%
S&P 500 (^GSPC)+76.29%
5-Year Return
LEGN-61.20%
S&P 500 (^GSPC)+66.54%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-11.5x
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
-11.5x
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$8.74-52.6%
Base (Fair)$44.66+153.6%
Bull$13.40-27.4%
$8.74 Bear$44.66 Base$13.40 Bull
Current Market Price: $18.45
Trades at a 58.7% discount to Base DCF ($44.66)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$1.03B+64.0% YoY
Net income
-$297M-67.7% YoY
Free cash flow
-$168M-6.3% YoY
Operating margin
-13.3%+35.1 pts YoY
ROIC (TTM)-12.7%
Avg ROIC 5Y-
ROE (TTM)-29.1%
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

5 Stories
Reuters·Sep 15, 2026
Legend Biotech taps Novartis veteran Zhang as CEO

Legend Biotech on Tuesday appointed longtime Novartis executive Ingrid Zhang as its CEO, effective immediately, banking on an ​industry veteran to steer its expansion beyond blockbuster ‌cancer therapy Carvykti.

GlobeNewsWire·Sep 15, 2026
Legend Biotech Appoints Ingrid Zhang as Chief Executive Officer

BRIDGEWATER, N.J., Sept. 15, 2026 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) ("Legend Biotech" or the "Company"), a global leader in cell therapy, today announced that its Board of Directors has appointed Ingrid Zhang as Chief Executive Officer, effective September 15, 2026.

WSJ·Sep 15, 2026
Legend Biotech is tapping a Novartis executive to run the cell-therapy maker, ending a nearly two-month search that began when former CEO Ying Huang resigned in July

Ingrid Zhang will take the helm of the cancer therapy company, filling a post vacant since its previous CEO abruptly resigned in July.

GlobeNewsWire·Sep 10, 2026
Legend Biotech to Present Updated Long-Term and Real-World Evidence from CARVYKTI Clinical Program at the International Myeloma Society Annual Meeting

Updated long-term follow-up data will be presented from CARTITUDE-2 Cohort A in patients with lenalidomide-refractory multiple myeloma after 1-3 prior lines of therapy Real-world evidence and post-authorization safety study findings will also be presented BRIDGEWATER, N.J., Sept. 10, 2026 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, today announced that data from CARTITUDE-2 and real-world evidence will be presented at the 23rd International Myeloma Society (IMS) Annual Meeting, taking place September 23-26, 2026, in Glasgow, Scotland.

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
$18.45$3.41B-11.5364.04%-28.85%-29.06%—
FATE logoFATEFate Therapeutics, Inc.
$2.43$283.24M-2.11-51.24%-1941.09%-65.08%—
CRSP logoCRSPCRISPR Therapeutics AG
$55.76$5.38B-8.62-89.97%-3368.72%-24.39%—
BEAM logoBEAMBeam Therapeutics Inc.
$24.37$2.51B-30.09120.01%-54.75%-7.7%—
NTLA logoNTLAIntellia Therapeutics, Inc.
$12.33$1.38B-3.2416.92%-672.16%-57.79%—
EDIT logoEDITEditas Medicine, Inc.
$2.69$412.81M-1.4925.39%-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 for fiscal year 2025. This represents a 5288% increase from $23.6M in 2017.

How fast is Legend Biotech Corporation growing?

Legend Biotech Corporation (LEGN) grew revenue by 64.0% over the past year. This is strong growth.

Is LEGN profitable?

Legend Biotech Corporation (LEGN) reported a net loss of $91.6M for fiscal year 2025.

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

Legend Biotech Corporation (LEGN) has a return on equity (ROE) of -29.1%. Negative ROE indicates the company is unprofitable.

What is Legend Biotech Corporation's free cash flow?

Legend Biotech Corporation (LEGN) had negative free cash flow of $255.6M in fiscal year 2025, likely due to heavy capital investments.

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

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

See returns →