HC Wainwright Boosts Earnings Estimates for Legend Biotech

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) – Stock analysts at HC Wainwright lifted their Q4 2026 earnings per share (EPS) estimates for shares of Legend Biotech in a research note issued on Wednesday, October 14th. HC Wainwright analyst M. Kapoor now expects that the company will post earnings per share of $0.08 for the quarter, up from their previous forecast of $0.06. HC Wainwright currently has a “Buy” rating and a $65.00 price objective on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($0.09) per share.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $387.50 million during the quarter, compared to analysts’ expectations of $355.96 million. Legend Biotech had a negative return on equity of 8.71% and a negative net margin of 7.21%. Legend Biotech’s revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share.

Several other research firms have also recently commented on LEGN. Royal Bank Of Canada cut their target price on Legend Biotech from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. Benchmark reiterated a “buy” rating on shares of Legend Biotech in a report on Tuesday, July 28th. Barclays lowered their price objective on shares of Legend Biotech from $74.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday. Oppenheimer lowered shares of Legend Biotech from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $75.00 to $40.00 in a research report on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Legend Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.07.

Legend Biotech Trading Up 6.5%

NASDAQ:LEGN opened at $19.04 on Thursday. The stock has a 50-day simple moving average of $19.76 and a 200 day simple moving average of $23.62. Legend Biotech has a 52-week low of $16.24 and a 52-week high of $37.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake in shares of Legend Biotech by 5.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 10,393 shares of the company’s stock worth $188,000 after purchasing an additional 570 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Legend Biotech by 3.1% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 20,386 shares of the company’s stock valued at $366,000 after buying an additional 607 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Legend Biotech by 173.9% in the first quarter. Parallel Advisors LLC now owns 2,084 shares of the company’s stock valued at $38,000 after buying an additional 1,323 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of Legend Biotech in the third quarter valued at $50,000. Finally, Royal Bank of Canada grew its stake in shares of Legend Biotech by 12.1% in the first quarter. Royal Bank of Canada now owns 24,261 shares of the company’s stock valued at $439,000 after buying an additional 2,611 shares in the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Insider Transactions at Legend Biotech

In related news, Director Corazon (Corsee) D. Sanders sold 27,370 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $9.46, for a total transaction of $258,920.20. Following the completion of the transaction, the director directly owned 52,731 shares of the company’s stock, valued at approximately $498,835.26. This represents a 34.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Carlos E. Santos sold 5,430 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $9.14, for a total value of $49,630.20. Following the transaction, the chief financial officer directly owned 14,246 shares of the company’s stock, valued at $130,208.44. This trade represents a 27.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.02% of the stock is currently owned by insiders.

Legend Biotech Company Profile

Legend Biotech Corporation (NASDAQ: LEGN) is a biotechnology company focused on developing, manufacturing and commercializing cell therapies for cancer and other serious diseases. Its research centers on chimeric antigen receptor T-cell (CAR-T) therapies, which use genetically modified immune cells to recognize and attack cancer cells.

The company’s leading product is Carvykti (ciltacabtagene autoleucel), a B-cell maturation antigen (BCMA)-directed CAR-T therapy for certain adults with relapsed or refractory multiple myeloma.