HC Wainwright Predicts Reduced Earnings for Legend Biotech

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) – Research analysts at HC Wainwright reduced their Q4 2026 earnings per share estimates for shares of Legend Biotech in a report released on Wednesday, July 15th. HC Wainwright analyst M. Kapoor now anticipates that the company will post earnings per share of $0.22 for the quarter, down from their prior forecast of $0.26. HC Wainwright currently has a “Buy” rating on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($0.01) per share.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $305.10 million for the quarter, compared to analysts’ expectations of $306.51 million. During the same quarter last year, the company posted ($0.07) EPS. The firm’s revenue was up 56.5% compared to the same quarter last year.

LEGN has been the subject of several other research reports. JPMorgan Chase & Co. assumed coverage on shares of Legend Biotech in a research report on Monday, July 13th. They set a “neutral” rating and a $35.00 price target for the company. UBS Group boosted their target price on shares of Legend Biotech from $31.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada reduced their target price on shares of Legend Biotech from $64.00 to $63.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. 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 report on Wednesday, May 13th. Finally, Weiss Ratings cut shares of Legend Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 10th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

Legend Biotech Stock Performance

Shares of NASDAQ:LEGN opened at $22.26 on Friday. The stock’s 50-day simple moving average is $29.33 and its two-hundred day simple moving average is $23.32. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of -32.73 and a beta of 0.34. Legend Biotech has a 52-week low of $16.24 and a 52-week high of $45.30.

Hedge Funds Weigh In On Legend Biotech

Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in shares of Legend Biotech by 171.9% in the third quarter. Parallel Advisors LLC now owns 1,047 shares of the company’s stock worth $34,000 after purchasing an additional 662 shares in the last quarter. Clearstead Advisors LLC lifted its stake in shares of Legend Biotech by 310.7% during the 4th quarter. Clearstead Advisors LLC now owns 3,479 shares of the company’s stock valued at $76,000 after buying an additional 2,632 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Legend Biotech by 1,730.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,569 shares of the company’s stock valued at $78,000 after buying an additional 3,374 shares in the last quarter. Raymond James Financial Inc. bought a new position in Legend Biotech in the 2nd quarter worth $78,000. Finally, IFM Investors Pty Ltd bought a new position in Legend Biotech in the 1st quarter worth $81,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Insider Activity

In related news, CEO Ying Huang sold 5,566 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $14.78, for a total transaction of $82,265.48. Following the completion of the transaction, the chief executive officer directly owned 241,872 shares in the company, valued at approximately $3,574,868.16. The trade was a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.02% of the company’s stock.

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.