HC Wainwright Predicts Lower Earnings for Legend Biotech

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) – Research analysts at HC Wainwright lowered their Q2 2026 earnings estimates for Legend Biotech in a report released on Monday, March 16th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn $0.06 per share for the quarter, down from their prior estimate of $0.12. HC Wainwright has a “Buy” rating and a $50.00 price target 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 $0.14 EPS, Q4 2026 earnings at $0.26 EPS and FY2027 earnings at $2.28 EPS.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Tuesday, March 10th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.18. The company had revenue of $306.30 million during 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 firm’s revenue for the quarter was up 64.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share.

Several other brokerages have also weighed in on LEGN. Rothschild & Co Redburn lowered Legend Biotech from a “buy” rating to a “neutral” rating and set a $24.00 price target for the company. in a research note on Thursday, February 12th. Raymond James Financial reissued an “outperform” rating on shares of Legend Biotech in a report on Monday, February 23rd. Truist Financial set a $70.00 price objective on Legend Biotech in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Legend Biotech in a research note on Monday, December 29th. Finally, Barclays decreased their target price on Legend Biotech from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.31.

Legend Biotech Stock Down 1.9%

LEGN stock opened at $17.87 on Wednesday. Legend Biotech has a 52-week low of $16.24 and a 52-week high of $45.30. The firm has a market cap of $3.30 billion, a P/E ratio of -22.34 and a beta of 0.07. The company’s 50-day simple moving average is $19.10 and its 200-day simple moving average is $25.82.

Institutional Investors Weigh In On Legend Biotech

Institutional investors have recently bought and sold shares of the company. Rakuten Investment Management Inc. acquired a new stake in shares of Legend Biotech in the third quarter valued at about $7,581,000. Mutual of America Capital Management LLC acquired a new position in Legend Biotech during the third quarter worth about $2,691,000. New York State Common Retirement Fund boosted its position in Legend Biotech by 100.4% during the second quarter. New York State Common Retirement Fund now owns 118,774 shares of the company’s stock worth $4,215,000 after acquiring an additional 59,498 shares during the last quarter. Squarepoint Ops LLC grew its stake in Legend Biotech by 77.6% during the 2nd quarter. Squarepoint Ops LLC now owns 148,681 shares of the company’s stock valued at $5,277,000 after acquiring an additional 64,956 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in Legend Biotech by 20.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 2,547,952 shares of the company’s stock valued at $83,089,000 after acquiring an additional 425,684 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

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.