Royal Bank Of Canada Issues Pessimistic Forecast for Legend Biotech (NASDAQ:LEGN) Stock Price

Legend Biotech (NASDAQ:LEGN) had its target price reduced by equities researchers at Royal Bank Of Canada from $56.00 to $50.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 161.29% from the company’s current price.

Several other research firms also recently issued reports on LEGN. HC Wainwright reaffirmed a “buy” rating on shares of Legend Biotech in a report on Friday, October 30th. Morgan Stanley set a $65.00 target price on Legend Biotech in a research note on Friday, September 4th. UBS Group restated a “buy” rating and set a $65.00 target price on shares of Legend Biotech in a research report on Monday, September 28th. TD Cowen dropped their target price on Legend Biotech from $29.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised Legend Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Legend Biotech presently has an average rating of “Moderate Buy” and an average price target of $53.69.

Legend Biotech Price Performance

Shares of LEGN stock traded down $1.27 during trading hours on Wednesday, reaching $19.14. 564,477 shares of the company were exchanged, compared to its average volume of 2,401,282. Legend Biotech has a fifty-two week low of $16.24 and a fifty-two week high of $37.50. The stock’s fifty day moving average is $19.75 and its two-hundred day moving average is $22.12. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -76.54 and a beta of 0.55.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Tuesday, November 10th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.01 by $0.13. The business had revenue of $359.50 million for the quarter, compared to analysts’ expectations of $361.46 million. Legend Biotech had a negative net margin of 7.21% and a negative return on equity of 8.71%. Legend Biotech’s revenue was up 32.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. On average, research analysts anticipate that Legend Biotech will post -0.08 earnings per share for the current year.

Insider Transactions at Legend Biotech

In other Legend Biotech news, CFO Carlos Santos sold 5,430 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $9.14, for a total transaction of $49,630.20. Following the transaction, the chief financial officer owned 14,246 shares in the company, valued at approximately $130,208.44. This trade represents a 27.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 27,370 shares of the business’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $9.46, for a total value of $258,920.20. Following the transaction, the director owned 52,731 shares of the company’s stock, valued at $498,835.26. The trade was a 34.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in Legend Biotech during the second quarter valued at approximately $55,307,000. Squarepoint Ops LLC raised its holdings in Legend Biotech by 60.4% in the second quarter. Squarepoint Ops LLC now owns 769,252 shares of the company’s stock worth $22,216,000 after purchasing an additional 289,772 shares during the period. Renaissance Technologies LLC boosted its position in shares of 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 purchasing an additional 119,000 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Legend Biotech by 343.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 406,901 shares of the company’s stock worth $7,361,000 after purchasing an additional 315,176 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Legend Biotech by 215.4% during the first quarter. Sei Investments Co. now owns 324,921 shares of the company’s stock worth $5,878,000 after purchasing an additional 221,899 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

Latest Legend Biotech News

These are some of the LEGN news items that stood out recently:

• Positive Sentiment: Third-quarter EPS was $0.14, above the $0.01 consensus, while revenue increased 32% year over year. CARVYKTI net trade sales rose 36% to about $710 million. Quarterly results
• Positive Sentiment: Legend reported about $853 million in cash and time deposits. It also highlighted long-term CARVYKTI data and FDA clearance for an investigational dual-targeting CAR-T therapy. Company results and pipeline updates
• Neutral Sentiment: Management is targeting adjusted profitability for 2026; the timing and sustainability of that goal remain important to investors. Profitability and margin outlook

Legend Biotech Company Profile

Legend Biotech is a biotechnology company focused on developing cell therapies for cancer, with an emphasis on chimeric antigen receptor (CAR) T-cell treatments. Founded in 2014, the company is headquartered in Somerset, New Jersey, and conducts research and development activities in the United States and China. Its lead product is CARVYKTI (ciltacabtagene autoleucel), a BCMA-directed CAR-T therapy for certain adults with relapsed or refractory multiple myeloma. Legend developed the therapy with Janssen, now part of Johnson & Johnson’s Innovative Medicine business, which collaborates on its commercialization.