Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) - Equities researchers at HC Wainwright lowered their Q2 2026 earnings estimates for shares of Legend Biotech in a report issued on Wednesday, April 15th. HC Wainwright analyst M. Kapoor now anticipates that the company will post earnings of $0.03 per share for the quarter, down from their previous forecast of $0.06. HC Wainwright has a "Buy" rating and a $50.00 price objective on the stock. The consensus estimate for Legend Biotech's current full-year earnings is ($1.31) per share. HC Wainwright also issued estimates for Legend Biotech's Q3 2026 earnings at $0.07 EPS, Q1 2027 earnings at $0.17 EPS, Q2 2027 earnings at $0.24 EPS and Q4 2027 earnings at $0.43 EPS.
Several other brokerages have also recently commented on LEGN. Weiss Ratings reiterated a "sell (e+)" rating on shares of Legend Biotech in a research note on Monday, December 29th. Raymond James Financial reissued an "outperform" rating on shares of Legend Biotech in a research note on Monday, February 23rd. Barclays dropped their price objective on shares of Legend Biotech from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, February 4th. Rothschild & Co Redburn cut shares of Legend Biotech from a "buy" rating to a "neutral" rating and set a $24.00 price objective for the company. in a research note on Thursday, February 12th. Finally, Oppenheimer assumed coverage on shares of Legend Biotech in a research note on Wednesday, January 7th. They issued an "outperform" rating and a $75.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Legend Biotech currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.31.
Check Out Our Latest Analysis on LEGN
Legend Biotech Stock Up 9.8%
Shares of LEGN stock opened at $20.52 on Thursday. The stock has a market cap of $3.80 billion, a P/E ratio of -25.65 and a beta of 0.08. Legend Biotech has a 52 week low of $16.24 and a 52 week high of $45.30. The company's fifty day simple moving average is $18.34 and its two-hundred day simple moving average is $23.63.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.18. The business had revenue of $306.30 million for the quarter, compared to analysts' expectations of $310.21 million. Legend Biotech had a negative net margin of 28.86% and a negative return on equity of 21.93%. The business's quarterly revenue was up 64.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS.
Insider Activity at Legend Biotech
In related news, CEO Ying Huang sold 9,936 shares of Legend Biotech stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $8.77, for a total transaction of $87,138.72. Following the completion of the transaction, the chief executive officer directly owned 247,438 shares of the company's stock, valued at approximately $2,170,031.26. The trade was a 3.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.02% of the company's stock.
Hedge Funds Weigh In On Legend Biotech
A number of large investors have recently made changes to their positions in the company. Suvretta Capital Management LLC boosted its stake in shares of Legend Biotech by 73.1% during the 4th quarter. Suvretta Capital Management LLC now owns 6,608,629 shares of the company's stock worth $143,672,000 after purchasing an additional 2,790,620 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Legend Biotech by 1.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 6,164,677 shares of the company's stock worth $134,020,000 after purchasing an additional 70,191 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Legend Biotech by 20.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,547,952 shares of the company's stock worth $83,089,000 after purchasing an additional 425,684 shares during the period. Goldman Sachs Group Inc. boosted its position in Legend Biotech by 120.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,174,535 shares of the company's stock valued at $47,274,000 after buying an additional 1,188,449 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Legend Biotech by 4.6% in the 3rd quarter. Alliancebernstein L.P. now owns 1,632,967 shares of the company's stock valued at $53,251,000 after buying an additional 72,371 shares during the period. 70.89% of the stock is owned by hedge funds and other institutional investors.
Legend Biotech Company Profile
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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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