Q2 EPS Estimates for Legend Biotech Boosted by HC Wainwright

Key Points

• HC Wainwright raised its Q2 2026 EPS estimate for Legend Biotech to $0.22 from $0.18 and reiterated a Buy rating with a $65 price target. The firm also forecast Q3 2026 EPS of $0.16.
• Legend Biotech’s most recent quarterly results missed expectations, reporting ($0.03) EPS versus an expected loss of ($0.02), while revenue of $305.1 million was slightly below estimates but still up 56.5% year over year.
• Analyst sentiment remains generally positive overall, with 10 Buy ratings versus four Holds and one Sell, giving the stock a consensus Moderate Buy rating and a $57 average target price.

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) - Research analysts at HC Wainwright upped their Q2 2026 earnings per share (EPS) estimates for Legend Biotech in a research note issued to investors on Wednesday, July 15th. HC Wainwright analyst M. Kapoor now expects that the company will earn $0.22 per share for the quarter, up from their prior forecast of $0.18. HC Wainwright currently has a "Buy" rating and a $65.00 target price on the stock. The consensus estimate for Legend Biotech's current full-year earnings is ($0.01) per share. HC Wainwright also issued estimates for Legend Biotech's Q3 2026 earnings at $0.16 EPS.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Legend Biotech had a negative net margin of 21.98% and a negative return on equity of 24.92%. The business had revenue of $305.10 million for the quarter, compared to the consensus estimate of $306.51 million. During the same period last year, the business posted ($0.07) EPS. The firm's revenue for the quarter was up 56.5% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Legend Biotech from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, July 10th. UBS Group raised their target price on shares of Legend Biotech from $31.00 to $49.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. Truist Financial downgraded shares of Legend Biotech from a "strong-buy" rating to a "hold" rating in a report on Friday, March 20th. Morgan Stanley decreased their price target on shares of Legend Biotech from $49.00 to $48.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Finally, TD Cowen increased their price objective on shares of Legend Biotech to $29.00 and gave the company a "hold" rating in a report on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

Legend Biotech Price Performance

Shares of LEGN opened at $23.04 on Thursday. Legend Biotech has a 1 year low of $16.24 and a 1 year high of $45.30. The company has a 50 day simple moving average of $29.56 and a two-hundred day simple moving average of $23.33. The firm has a market cap of $4.28 billion, a P/E ratio of -33.88 and a beta of 0.34.

Insider Buying and Selling at Legend Biotech

In related news, CEO Ying Huang sold 5,566 shares of the business's stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $14.78, for a total value of $82,265.48. Following the sale, the chief executive officer owned 241,872 shares in the company, valued at approximately $3,574,868.16. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.02% of the company's stock.

Hedge Funds Weigh In On Legend Biotech

Institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new stake in shares of Legend Biotech in the 2nd quarter worth about $55,307,000. Avior Wealth Management LLC bought a new position in shares of Legend Biotech in the 2nd quarter valued at about $235,000. Parallel Advisors LLC lifted its holdings in shares of Legend Biotech by 173.9% in the 1st quarter. Parallel Advisors LLC now owns 2,084 shares of the company's stock valued at $38,000 after acquiring an additional 1,323 shares during the last quarter. Avidity Partners Management LP purchased a new position in Legend Biotech in the first quarter worth about $271,000. Finally, ADAR1 Capital Management LLC purchased a new position in Legend Biotech in the first quarter worth about $362,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Company Profile

Legend Biotech NASDAQ: LEGN is a commercial-stage biopharmaceutical company specializing in the development and commercialization of chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Headquartered in Somerset, New Jersey, with research and development operations in Shanghai, the company leverages a global infrastructure to advance innovative cellular therapies. Legend Biotech pursues a strategy of strategic collaboration to extend its reach, most notably through its partnership with Janssen Biotech, a subsidiary of Johnson & Johnson.

The company's lead asset, ciltacabtagene autoleucel (commercially marketed as Carvykti), is a B-cell maturation antigen (BCMA)–directed CAR-T therapy for the treatment of relapsed or refractory multiple myeloma.

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