HC Wainwright Expects Weaker Earnings for Legend Biotech

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) – Equities research analysts at HC Wainwright decreased their Q2 2026 earnings per share (EPS) estimates for shares of Legend Biotech in a note issued to investors on Monday, March 16th. HC Wainwright analyst M. Kapoor now expects that the company will earn $0.06 per share for the quarter, down from their previous forecast of $0.12. HC Wainwright has a “Buy” rating and a $50.00 price objective 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.

A number of other research firms have also recently weighed in on LEGN. UBS Group lowered their target price on shares of Legend Biotech from $54.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, December 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Legend Biotech in a research note on Monday, February 23rd. Oppenheimer initiated coverage on Legend Biotech in a research note on Wednesday, January 7th. They set an “outperform” rating and a $75.00 price objective for the company. Royal Bank Of Canada lowered their target price on shares of Legend Biotech from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, March 11th. Finally, Truist Financial set a $70.00 price target on shares of Legend Biotech in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.31.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $18.55 on Wednesday. The firm has a fifty day moving average of $19.29 and a 200-day moving average of $25.93. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -23.19 and a beta of 0.07. Legend Biotech has a 52-week low of $16.24 and a 52-week high of $45.30.

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

Hedge Funds Weigh In On Legend Biotech

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

About Legend Biotech

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.