HC Wainwright Reduces Earnings Estimates for Legend Biotech

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) – Investment analysts at HC Wainwright cut their Q1 2026 earnings per share (EPS) estimates for shares of Legend Biotech in a report issued on Monday, March 16th. HC Wainwright analyst M. Kapoor now expects that the company will post earnings of ($0.04) per share for the quarter, down from their prior estimate of $0.04. HC Wainwright currently has a “Buy” rating and a $50.00 target price 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 FY2026 earnings at $0.42 EPS.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Tuesday, March 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.18. The firm had revenue of $306.30 million for the quarter, compared to analysts’ expectations of $310.21 million. Legend Biotech had a negative return on equity of 21.93% and a negative net margin of 28.86%.The firm’s revenue for the quarter was up 64.2% on a year-over-year basis. During the same period last year, the business posted $0.07 earnings per share.

Several other research analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Legend Biotech in a report on Monday, December 29th. Truist Financial set a $70.00 target price on shares of Legend Biotech in a report on Tuesday, March 10th. TD Cowen restated a “hold” rating and issued a $21.00 target price (down from $62.00) on shares of Legend Biotech in a research note on Thursday, January 22nd. Cantor Fitzgerald lowered their target price on Legend Biotech from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Finally, UBS Group dropped their price target on Legend Biotech from $54.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, December 8th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.31.

Legend Biotech Stock Performance

Shares of NASDAQ:LEGN opened at $18.21 on Thursday. The company’s fifty day moving average is $19.20 and its two-hundred day moving average is $25.87. Legend Biotech has a 1-year low of $16.24 and a 1-year high of $45.30. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -22.76 and a beta of 0.07.

Institutional Trading of Legend Biotech

Several hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Legend Biotech by 1,730.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,569 shares of the company’s stock valued at $78,000 after purchasing an additional 3,374 shares during the period. Virtu Financial LLC acquired a new position in shares of Legend Biotech during the fourth quarter worth approximately $298,000. Invesco Ltd. boosted its position in shares of Legend Biotech by 4.4% during the fourth quarter. Invesco Ltd. now owns 13,710 shares of the company’s stock worth $298,000 after buying an additional 581 shares during the period. Mackenzie Financial Corp grew its holdings in Legend Biotech by 8.6% in the 4th quarter. Mackenzie Financial Corp now owns 25,487 shares of the company’s stock worth $548,000 after buying an additional 2,026 shares in the last quarter. Finally, Ikarian Capital LLC acquired a new stake in Legend Biotech in the 4th quarter valued at approximately $4,933,000. 70.89% of the stock is currently owned by institutional investors.

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.