HC Wainwright Boosts Earnings Estimates for Legend Biotech

Key Points

• HC Wainwright raised Legend Biotech’s Q4 2026 EPS estimate to $0.08 from $0.06, while maintaining a “Buy” rating and a $65 price target.
• Legend Biotech’s latest quarterly results exceeded expectations, with EPS of $0.09 versus $0.07 expected and revenue of $387.5 million, up 51.9% year over year.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus rating and an average price target of $55.07, although the stock opened at $19.04 and remains below its 52-week high of $37.50.

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) - HC Wainwright raised their Q4 2026 earnings per share (EPS) estimates for shares of Legend Biotech in a research note issued on Wednesday, October 14th. HC Wainwright analyst M. Kapoor now anticipates that the company will post earnings of $0.08 per share for the quarter, up from their previous estimate of $0.06. HC Wainwright has a "Buy" rating and a $65.00 price objective on the stock. The consensus estimate for Legend Biotech's current full-year earnings is ($0.09) per share.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Legend Biotech had a negative net margin of 7.21% and a negative return on equity of 8.71%. The company had revenue of $387.50 million for the quarter, compared to analyst estimates of $355.96 million. During the same quarter last year, the firm earned $0.03 EPS. The company's revenue for the quarter was up 51.9% on a year-over-year basis.

A number of other equities analysts have also recently issued reports on LEGN. UBS Group reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Legend Biotech in a research note on Monday, September 28th. Royal Bank Of Canada dropped their target price on shares of Legend Biotech from $58.00 to $56.00 and set an "outperform" rating for the company in a research report on Thursday, October 8th. Raymond James Financial reiterated an "outperform" rating and set a $58.00 target price on shares of Legend Biotech in a research report on Monday, July 27th. Morgan Stanley set a $65.00 price target on Legend Biotech in a research note on Friday, September 4th. Finally, Oppenheimer lowered Legend Biotech from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $75.00 to $40.00 in a research report on Wednesday, August 12th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Legend Biotech currently has a consensus rating of "Moderate Buy" and an average price target of $55.07.

Legend Biotech Price Performance

LEGN opened at $19.04 on Thursday. The firm has a 50 day simple moving average of $19.76 and a 200 day simple moving average of $23.62. Legend Biotech has a fifty-two week low of $16.24 and a fifty-two week high of $37.50.

Institutional Trading of Legend Biotech

A number of large investors have recently made changes to their positions in LEGN. Assenagon Asset Management S.A. acquired a new position in shares of Legend Biotech in the 2nd quarter valued at approximately $55,307,000. Squarepoint Ops LLC lifted its stake in Legend Biotech by 60.4% in the second quarter. Squarepoint Ops LLC now owns 769,252 shares of the company's stock valued at $22,216,000 after buying an additional 289,772 shares in the last quarter. SG Americas Securities LLC lifted its stake in Legend Biotech by 44.1% in the first quarter. SG Americas Securities LLC now owns 535,658 shares of the company's stock valued at $9,690,000 after buying an additional 163,930 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Legend Biotech by 29.5% in the first quarter. Renaissance Technologies LLC now owns 521,800 shares of the company's stock valued at $9,439,000 after buying an additional 119,000 shares during the period. Finally, Candriam S.C.A. boosted its holdings in shares of Legend Biotech by 79.6% in the first quarter. Candriam S.C.A. now owns 470,292 shares of the company's stock valued at $8,508,000 after buying an additional 208,477 shares during the period. Institutional investors own 70.89% of the company's stock.

Insider Transactions at Legend Biotech

In other Legend Biotech news, Director Corazon (Corsee) D. Sanders sold 27,370 shares of the company's stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $9.46, for a total value of $258,920.20. Following the completion of the sale, the director owned 52,731 shares of the company's stock, valued at approximately $498,835.26. This represents a 34.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Carlos E. Santos sold 5,430 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $9.14, for a total transaction of $49,630.20. Following the completion of the sale, the chief financial officer owned 14,246 shares in the company, valued at approximately $130,208.44. This trade represents a 27.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.02% of the company's stock.

Legend Biotech Company Profile

Legend Biotech Corporation NASDAQ: LEGN is a biotechnology company focused on developing, manufacturing and commercializing cell therapies for cancer and other serious diseases. Its research centers on chimeric antigen receptor T-cell (CAR-T) therapies, which use genetically modified immune cells to recognize and attack cancer cells.

The company's leading product is Carvykti (ciltacabtagene autoleucel), a B-cell maturation antigen (BCMA)-directed CAR-T therapy for certain adults with relapsed or refractory multiple myeloma.

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