Legend Biotech (NASDAQ:LEGN) Price Target Cut to $24.00 by Analysts at TD Cowen

Posted by Geri Gentry on Aug 12th, 2026

Legend Biotech (NASDAQ:LEGN – Get Free Report) had its price objective dropped by equities researchers at TD Cowen from $29.00 to $24.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would indicate a potential upside of 15.05% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Royal Bank Of Canada lowered their target price on Legend Biotech from $59.00 to $58.00 and set an “outperform” rating on the stock in a report on Wednesday. UBS Group reissued a “neutral” rating and issued a $28.00 price target (down from $49.00) on shares of Legend Biotech in a report on Monday, July 27th. JPMorgan Chase & Co. initiated coverage on Legend Biotech in a research report on Monday, July 13th. They issued a “neutral” rating and a $35.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Legend Biotech in a research note on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $65.00 price objective on shares of Legend Biotech in a research report on Tuesday, July 28th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Legend Biotech has an average rating of “Hold” and an average target price of $52.21.

Check Out Our Latest Report on LEGN

Legend Biotech Price Performance

Shares of NASDAQ LEGN traded down $0.97 on Wednesday, hitting $20.86. The company’s stock had a trading volume of 721,320 shares, compared to its average volume of 2,502,093. Legend Biotech has a 12-month low of $16.24 and a 12-month high of $38.35. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of -30.68 and a beta of 0.37. The stock has a 50 day moving average of $26.68 and a 200-day moving average of $23.15.

Legend Biotech (NASDAQ:LEGN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Legend Biotech had a negative net margin of 21.98% and a negative return on equity of 24.92%. The business had revenue of $387.50 million during the quarter, compared to analysts’ expectations of $355.96 million. During the same period last year, the company posted $0.03 EPS. The company’s revenue was up 51.9% on a year-over-year basis. Sell-side analysts expect that Legend Biotech will post -0.01 EPS for the current fiscal year.

Insider Transactions at Legend Biotech

In related news, CEO Ying Huang sold 5,566 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 241,872 shares in the company, valued at approximately $3,574,868.16. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted 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 worth $34,000 after purchasing an additional 662 shares during the last quarter. Clearstead Advisors LLC increased its stake in Legend Biotech by 310.7% in the fourth quarter. Clearstead Advisors LLC now owns 3,479 shares of the company’s stock valued at $76,000 after purchasing an additional 2,632 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Legend Biotech by 1,730.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,569 shares of the company’s stock valued at $78,000 after purchasing an additional 3,374 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Legend Biotech during the second quarter worth about $78,000. Finally, IFM Investors Pty Ltd acquired a new stake in Legend Biotech in the 1st quarter worth about $81,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.

More Legend Biotech News

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

Positive Sentiment: Legend Biotech reported second-quarter EPS of $0.09, exceeding the $0.07 consensus estimate. Revenue rose 51.9% year over year to $387.5 million, above expectations of $355.96 million. Coverage also highlighted the company’s first quarter of company-wide profitability. Legend Biotech Gains 6% on Q2 Earnings Beat
Positive Sentiment: The earnings beat and improving profitability provide evidence of continued commercial momentum for Legend Biotech’s cell-therapy business, including Carvykti, and initially supported a gain in the shares. Legend Biotech Reports Second Quarter 2026 Results
Neutral Sentiment: Analysts cited in a separate report set an average price target of $55.29, implying considerable potential upside, although the wide range of targets indicates significant uncertainty about Legend Biotech’s valuation and outlook. Analysts Set Legend Biotech Price Target
Negative Sentiment: Oppenheimer reaffirmed its “market perform” rating but sharply reduced its price target to $40 from $75. Royal Bank of Canada maintained an “outperform” rating while trimming its target to $58 from $59. These revisions may be prompting profit-taking despite the strong quarterly results. Legend Biotech Analyst Rating and Price Target Changes

About Legend Biotech

(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.