William Blair Cuts Earnings Estimates for Legend Biotech

Legend Biotech Co. (NASDAQ:LEGN) – William Blair decreased their Q2 2026 earnings estimates for Legend Biotech in a research note issued to investors on Tuesday, May 13th. William Blair analyst S. Corwin now anticipates that the company will earn $0.11 per share for the quarter, down from their previous forecast of $0.16. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.31) per share. William Blair also issued estimates for Legend Biotech’s Q3 2026 earnings at $0.16 EPS.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.33. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm had revenue of $195.05 million during the quarter, compared to the consensus estimate of $190.83 million.

LEGN has been the subject of several other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $84.00 target price on shares of Legend Biotech in a research note on Tuesday, April 22nd. Morgan Stanley lowered their price objective on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Guggenheim reissued a “neutral” rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Truist Financial lowered their price objective on shares of Legend Biotech from $88.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Legend Biotech in a research report on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Legend Biotech has an average rating of “Moderate Buy” and a consensus target price of $74.73.

Legend Biotech Stock Down 0.4%

Shares of NASDAQ:LEGN opened at $27.69 on Thursday. Legend Biotech has a 52 week low of $27.43 and a 52 week high of $60.87. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The company has a market capitalization of $5.09 billion, a PE ratio of -29.15 and a beta of 0.20. The company has a 50 day moving average price of $33.66 and a two-hundred day moving average price of $35.97.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP grew its position in Legend Biotech by 21.1% in the first quarter. Westfield Capital Management Co. LP now owns 6,917,567 shares of the company’s stock valued at $234,713,000 after purchasing an additional 1,203,871 shares in the last quarter. Suvretta Capital Management LLC bought a new position in Legend Biotech in the fourth quarter valued at $113,767,000. Invesco Ltd. grew its position in Legend Biotech by 44.7% in the fourth quarter. Invesco Ltd. now owns 3,309,971 shares of the company’s stock valued at $107,706,000 after purchasing an additional 1,022,365 shares in the last quarter. Braidwell LP lifted its stake in Legend Biotech by 93.2% in the fourth quarter. Braidwell LP now owns 2,977,951 shares of the company’s stock valued at $96,903,000 after acquiring an additional 1,436,400 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Legend Biotech by 0.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,270,264 shares of the company’s stock valued at $77,030,000 after acquiring an additional 6,708 shares during the last quarter. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Company Profile

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery, development, manufacturing, and commercialization of novel cell therapies for oncology and other indications in the United States, China, and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM).