HC Wainwright Trims Legend Biotech (NASDAQ:LEGN) Target Price to $73.00

Legend Biotech (NASDAQ:LEGN) had its price target cut by HC Wainwright from $86.00 to $73.00 in a research report released on Friday, MarketBeat Ratings reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Legend Biotech’s Q4 2025 earnings at $0.10 EPS.

A number of other brokerages have also recently commented on LEGN. UBS Group increased their price objective on shares of Legend Biotech from $76.00 to $81.00 and gave the company a buy rating in a research note on Monday, March 18th. Raymond James initiated coverage on Legend Biotech in a research report on Wednesday, March 13th. They set an outperform rating and a $86.00 price target for the company. Royal Bank of Canada increased their price objective on Legend Biotech from $85.00 to $86.00 and gave the company an outperform rating in a research note on Tuesday, May 14th. Cantor Fitzgerald started coverage on Legend Biotech in a report on Wednesday, April 3rd. They set an overweight rating and a $82.00 price objective on the stock. Finally, Scotiabank raised Legend Biotech from a sector perform rating to a sector outperform rating and set a $65.00 target price for the company in a research report on Wednesday, April 17th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and a consensus target price of $81.10.

Legend Biotech Stock Performance

Shares of Legend Biotech stock opened at $41.41 on Friday. The firm’s fifty day simple moving average is $50.00 and its 200-day simple moving average is $56.99. Legend Biotech has a 12 month low of $39.13 and a 12 month high of $77.32. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of -31.85 and a beta of 0.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.66 and a quick ratio of 5.57.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.13. Legend Biotech had a negative return on equity of 27.91% and a negative net margin of 135.92%. The firm had revenue of $93.90 million for the quarter, compared to analysts’ expectations of $143.24 million. During the same quarter in the previous year, the firm posted ($0.40) EPS. The firm’s revenue for the quarter was up 158.7% on a year-over-year basis. As a group, equities analysts forecast that Legend Biotech will post -1.84 earnings per share for the current year.

Hedge Funds Weigh In On Legend Biotech

Large investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in Legend Biotech during the fourth quarter valued at approximately $45,000. American International Group Inc. raised its position in shares of Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after acquiring an additional 300 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Legend Biotech by 53.9% during the third quarter. PNC Financial Services Group Inc. now owns 1,348 shares of the company’s stock worth $91,000 after purchasing an additional 472 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in Legend Biotech in the fourth quarter worth $120,000. Finally, California State Teachers Retirement System increased its stake in Legend Biotech by 196.3% during the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock valued at $188,000 after purchasing an additional 2,216 shares during the last quarter. Institutional investors own 70.89% of the company’s stock.

About Legend Biotech

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery, development, manufacturing, and commercialization of novel cell therapies for oncology and other indications in the United States, China, and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM).