HC Wainwright Raises Earnings Estimates for Legend Biotech

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) – Stock analysts at HC Wainwright boosted their Q3 2026 earnings per share (EPS) estimates for Legend Biotech in a research report issued to clients and investors on Wednesday, October 14th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn $0.02 per share for the quarter, up from their prior forecast of ($0.02). HC Wainwright currently has a “Buy” rating and a $65.00 price target on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($0.09) per share. HC Wainwright also issued estimates for Legend Biotech’s FY2026 earnings at $0.00 EPS.

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

LEGN has been the subject of several other reports. Benchmark reaffirmed a “buy” rating on shares of Legend Biotech in a research report on Tuesday, July 28th. JPMorgan Chase & Co. reduced their price target on shares of Legend Biotech from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. TD Cowen reduced their price target on shares of Legend Biotech from $29.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, August 12th. UBS Group reissued a “buy” rating and issued a $65.00 price target on shares of Legend Biotech in a research note on Monday, September 28th. Finally, Royal Bank Of Canada lowered their price objective on shares of Legend Biotech from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 8th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Legend Biotech currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.07.

Legend Biotech Price Performance

Shares of Legend Biotech stock opened at $19.80 on Friday. Legend Biotech has a 12-month low of $16.24 and a 12-month high of $37.50. The company’s fifty day simple moving average is $19.78 and its two-hundred day simple moving average is $23.64.

Insider Activity at Legend Biotech

In other Legend Biotech news, Director Corazon (Corsee) D. Sanders sold 27,370 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $9.46, for a total value of $258,920.20. Following the completion of the transaction, the director owned 52,731 shares in the company, valued at approximately $498,835.26. This represents a 34.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Carlos E. Santos sold 5,430 shares of the firm’s stock in a transaction 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 represents a 27.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.02% of the company’s stock.

Institutional Trading of Legend Biotech

A number of hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new position in shares of Legend Biotech in the 2nd quarter worth about $55,307,000. Squarepoint Ops LLC boosted its stake in Legend Biotech by 60.4% during the second quarter. Squarepoint Ops LLC now owns 769,252 shares of the company’s stock worth $22,216,000 after acquiring an additional 289,772 shares in the last quarter. SG Americas Securities LLC boosted its stake in Legend Biotech by 44.1% during the first quarter. SG Americas Securities LLC now owns 535,658 shares of the company’s stock worth $9,690,000 after acquiring an additional 163,930 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Legend Biotech by 29.5% during the first quarter. Renaissance Technologies LLC now owns 521,800 shares of the company’s stock worth $9,439,000 after acquiring an additional 119,000 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in Legend Biotech by 79.6% in the first quarter. Candriam S.C.A. now owns 470,292 shares of the company’s stock worth $8,508,000 after purchasing an additional 208,477 shares during the period. Institutional investors own 70.89% of the company’s stock.

Key Legend Biotech News

Here are the key news stories impacting Legend Biotech this week:

• Positive Sentiment: The U.S. Food and Drug Administration cleared Legend Biotech’s IND application for LB2501, an investigational in vivo CAR-T therapy for relapsed or refractory B-cell malignancies. The treatment is designed to create dual-targeting CD19/CD20 CAR-T cells inside the patient after a single infusion. The clearance supports a planned Phase 1/2 U.S. study and advances the company’s in vivo cell-engineering platform. Legend Biotech Announces U.S. FDA Clearance of IND Application for LB2501
• Positive Sentiment: HC Wainwright raised its third-quarter 2026 EPS forecast for Legend Biotech to $0.02 from a projected loss of $0.02. The firm also increased its fourth-quarter estimate to $0.08 from $0.06 and maintained a Buy rating with a $65 price target. Legend Biotech analyst estimates
• Positive Sentiment: HC Wainwright lifted its full-year 2026 EPS forecast to breakeven from a loss of $0.08 per share, suggesting improved expectations for Legend Biotech’s earnings trajectory. The estimate remains more optimistic than the broader current-year consensus of a $0.09 loss. Legend Biotech FY2026 earnings estimate
• Negative Sentiment: Barclays cut its price target for Legend Biotech, adding a counterpoint to the positive FDA news and HC Wainwright estimate revisions. The target reduction may reflect continued concerns about valuation, execution, or the company’s path to sustained profitability. Legend Biotech Stock Price Target Cut by Barclays

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.