HC Wainwright Predicts Weaker Earnings for Legend Biotech

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) – HC Wainwright lowered their Q1 2027 EPS estimates for Legend Biotech in a note issued to investors on Tuesday, August 11th. HC Wainwright analyst M. Kapoor now anticipates that the company will post earnings per share of $0.26 for the quarter, down from their prior forecast of $0.38. HC Wainwright currently has a “Buy” rating and a $65.00 target price on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is $0.01 per share. HC Wainwright also issued estimates for Legend Biotech’s Q2 2027 earnings at $0.36 EPS.

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

A number of other brokerages also recently commented on LEGN. TD Cowen reduced their price target on Legend Biotech from $29.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, August 12th. JPMorgan Chase & Co. began coverage on Legend Biotech in a research report on Monday, July 13th. They issued a “neutral” rating and a $35.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and set a $58.00 price target on shares of Legend Biotech in a research report on Monday, July 27th. Weiss Ratings cut shares of Legend Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, Morgan Stanley boosted their target price on shares of Legend Biotech from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Legend Biotech has a consensus rating of “Hold” and a consensus price target of $52.29.

Legend Biotech Stock Performance

Shares of NASDAQ LEGN opened at $21.26 on Friday. Legend Biotech has a 1 year low of $16.24 and a 1 year high of $37.50. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -85.04 and a beta of 0.37. The stock’s 50-day simple moving average is $24.86 and its 200-day simple moving average is $23.28.

Institutional Investors Weigh In On Legend Biotech

A number of hedge funds and other institutional investors have recently modified their holdings of LEGN. Suvretta Capital Management LLC boosted its stake in shares of Legend Biotech by 73.1% during the 4th quarter. Suvretta Capital Management LLC now owns 6,608,629 shares of the company’s stock worth $143,672,000 after acquiring an additional 2,790,620 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Legend Biotech in the 2nd quarter worth $55,307,000. Goldman Sachs Group Inc. lifted its holdings in shares of Legend Biotech by 120.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,174,535 shares of the company’s stock valued at $47,274,000 after purchasing an additional 1,188,449 shares during the last quarter. Davern Capital Partners LP purchased a new stake in shares of Legend Biotech during the fourth quarter valued at $22,972,000. Finally, Marshall Wace LLP boosted its position in shares of Legend Biotech by 4,129.8% in the 4th quarter. Marshall Wace LLP now owns 755,953 shares of the company’s stock valued at $16,434,000 after purchasing an additional 738,081 shares during the period. 70.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ying Huang sold 5,566 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were 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 owned 241,872 shares of the company’s stock, valued at approximately $3,574,868.16. The trade was a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.02% of the stock is owned by corporate insiders.

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.