Royal Bank Of Canada Lowers Legend Biotech (NASDAQ:LEGN) Price Target to $59.00

Posted by Brian Himes on Jul 27th, 2026

Legend Biotech (NASDAQ:LEGN – Get Free Report) had its price objective reduced by investment analysts at Royal Bank Of Canada from $63.00 to $59.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 203.65% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Legend Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. assumed coverage on Legend Biotech in a research report on Monday, July 13th. They set a “neutral” rating and a $35.00 target price for the company. HC Wainwright reaffirmed a “buy” rating on shares of Legend Biotech in a research note on Thursday, July 16th. Morgan Stanley dropped their price objective on Legend Biotech from $49.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Finally, UBS Group downgraded shares of Legend Biotech from a “buy” rating to a “neutral” rating and reduced their target price for the company from $49.00 to $28.00 in a research note on Friday. Eight equities 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.08.

Get Our Latest Report on LEGN

Legend Biotech Stock Down 12.6%

Legend Biotech stock traded down $2.79 on Monday, hitting $19.43. The company’s stock had a trading volume of 2,087,001 shares, compared to its average volume of 2,437,071. Legend Biotech has a one year low of $16.24 and a one year high of $43.71. The firm has a market cap of $3.61 billion, a P/E ratio of -28.57 and a beta of 0.34. The company has a fifty day moving average price of $28.87 and a 200-day moving average price of $23.40.

Legend Biotech (NASDAQ:LEGN – Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Legend Biotech had a negative return on equity of 24.92% and a negative net margin of 21.98%.The business had revenue of $305.10 million for the quarter, compared to the consensus estimate of $306.51 million. During the same period in the previous year, the business posted ($0.07) earnings per share. Legend Biotech’s revenue was up 56.5% on a year-over-year basis. Analysts anticipate that Legend Biotech will post -0.01 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ying Huang sold 5,566 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $14.78, for a total transaction of $82,265.48. Following the sale, the chief executive officer directly owned 241,872 shares in the company, valued at $3,574,868.16. This represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Legend Biotech

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in shares of Legend Biotech by 6,774.9% in the fourth quarter. SG Americas Securities LLC now owns 371,728 shares of the company’s stock valued at $8,081,000 after buying an additional 366,321 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Legend Biotech during the 1st quarter worth about $4,039,000. Casdin Capital LLC acquired a new position in Legend Biotech during the 4th quarter worth about $4,674,000. Candriam S.C.A. grew its holdings in Legend Biotech by 79.6% during the 1st quarter. Candriam S.C.A. now owns 470,292 shares of the company’s stock worth $8,508,000 after acquiring an additional 208,477 shares during the last quarter. Finally, Eagle Health Investments LP bought a new stake in Legend Biotech during the 4th quarter worth about $8,884,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Company Profile

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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.