Legend Biotech Q2 revenue beats estimates on commercial expansion
LEGN•Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell".
- The average consensus recommendation for the biotechnology & medical research peer group is "buy".
- Wall Street's median 12-month price target for Legend Biotech Corporation is $57.00, about 175.9% above its August 10 closing price of $20.66.
- The stock recently traded at 45 times the next 12-month earnings vs. a P/E of 51 three months ago.
Balance sheet and outlook
Legend Biotech strengthened its balance sheet with a $212 mln public offering and expanded CARVYKTI to 19 markets.
The company expects to achieve company-wide profitability in 2026.
Q2 revenue and adjusted EPS beat estimates
Legend Biotech said second-quarter revenue rose sharply, beating analyst expectations, while adjusted EPS also beat estimates, reflecting improved operating performance.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $387.50 mln | $355.77 mln (10 Analysts) |
| Q2 Adjusted EPS | Beat | $0.16 | $0.07 (9 Analysts) |
| Q2 EPS | $0.09 | ||
| Q2 Net Income | $33.20 mln |
