Legend Biotech (NASDAQ:LEGN) Earns “Buy” Rating from HC Wainwright

Posted by Stanley Muller on May 18th, 2026

Legend Biotech (NASDAQ:LEGN – Get Free Report)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $50.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 81.49% from the stock’s previous close.

LEGN has been the topic of several other research reports. TD Cowen lifted their price target on shares of Legend Biotech to $29.00 and gave the company a “hold” rating in a report on Wednesday. Rothschild & Co Redburn cut shares of Legend Biotech from a “buy” rating to a “neutral” rating and set a $24.00 price target on the stock. in a report on Thursday, February 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $69.00 price target on shares of Legend Biotech in a report on Tuesday, March 10th. Truist Financial cut shares of Legend Biotech from a “strong-buy” rating to a “hold” rating in a report on Friday, March 20th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Legend Biotech in a report on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Check Out Our Latest Report on Legend Biotech

Legend Biotech Stock Performance

NASDAQ:LEGN opened at $27.55 on Monday. The firm has a market cap of $5.10 billion, a PE ratio of -40.51 and a beta of 0.29. Legend Biotech has a fifty-two week low of $16.24 and a fifty-two week high of $45.30. The business has a 50 day moving average price of $21.29 and a 200-day moving average price of $22.62.

Legend Biotech (NASDAQ:LEGN – Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $305.10 million for the quarter, compared to analysts’ expectations of $306.51 million. Legend Biotech had a negative net margin of 21.98% and a negative return on equity of 24.92%. The business’s revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period last year, the company posted ($0.07) EPS. Research analysts predict that Legend Biotech will post 0.2 EPS for the current year.

Insider Buying and Selling

In other Legend Biotech news, CEO Ying Huang sold 9,936 shares of the firm’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $8.77, for a total transaction of $87,138.72. Following the completion of the transaction, the chief executive officer owned 247,438 shares of the company’s stock, valued at approximately $2,170,031.26. This trade represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Legend Biotech

Several large investors have recently made changes to their positions in the business. Clearstead Advisors LLC lifted its holdings in shares of Legend Biotech by 76.5% during the third quarter. Clearstead Advisors LLC now owns 847 shares of the company’s stock valued at $28,000 after purchasing an additional 367 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Legend Biotech by 5.8% during the first quarter. The Manufacturers Life Insurance Company now owns 10,393 shares of the company’s stock valued at $188,000 after purchasing an additional 570 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Legend Biotech by 4.4% during the fourth quarter. Invesco Ltd. now owns 13,710 shares of the company’s stock valued at $298,000 after purchasing an additional 581 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in shares of Legend Biotech by 3.1% during the first quarter. Resona Asset Management Co. Ltd. now owns 20,386 shares of the company’s stock valued at $366,000 after purchasing an additional 607 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Legend Biotech by 171.9% during the third quarter. Parallel Advisors LLC now owns 1,047 shares of the company’s stock valued at $34,000 after purchasing an additional 662 shares during the last quarter. 70.89% of the stock is currently owned by hedge funds and other institutional investors.

Legend Biotech Company Profile

(Get Free Report)

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.