Legend Biotech (NASDAQ:LEGN) Receives “Market Perform” Rating from Oppenheimer

Posted by Geri Gentry on Aug 12th, 2026

Legend Biotech (NASDAQ:LEGN – Get Free Report)‘s stock had its “market perform” rating reissued by investment analysts at Oppenheimer in a research report issued on Wednesday, MarketBeat Ratings reports.

LEGN has been the subject of several other reports. JPMorgan Chase & Co. initiated coverage on Legend Biotech in a report on Monday, July 13th. They issued a “neutral” rating and a $35.00 price objective for the company. Weiss Ratings upgraded shares of Legend Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 30th. Royal Bank Of Canada dropped their target price on shares of Legend Biotech from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, July 27th. TD Cowen boosted their price target on shares of Legend Biotech to $29.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Finally, UBS Group reiterated a “neutral” rating and set a $28.00 target price (down from $49.00) on shares of Legend Biotech in a research report on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $52.64.

View Our Latest Stock Analysis on Legend Biotech

Legend Biotech Stock Down 2.0%

Shares of LEGN traded down $0.44 during mid-day trading on Wednesday, hitting $21.39. 180,661 shares of the company’s stock were exchanged, compared to its average volume of 2,498,554. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -31.55 and a beta of 0.37. Legend Biotech has a 52 week low of $16.24 and a 52 week high of $38.35. The stock’s 50-day simple moving average is $26.68 and its 200-day simple moving average is $23.15.

Legend Biotech (NASDAQ:LEGN – Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $387.50 million during the quarter, compared to analyst estimates of $355.96 million. During the same quarter in the previous year, the business posted $0.03 EPS. Legend Biotech’s revenue for the quarter was up 51.9% compared to the same quarter last year. Analysts forecast that Legend Biotech will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Legend Biotech

In other Legend Biotech 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 completion of the sale, the chief executive officer directly owned 241,872 shares in the company, valued at $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 SEC, which is available at this hyperlink. Company insiders own 0.02% of the company’s stock.

Institutional Trading of Legend Biotech

A number of large investors have recently bought and sold shares of the business. Parallel Advisors LLC grew 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 buying an additional 662 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Legend Biotech in the 2nd quarter valued at approximately $78,000. Harvest Fund Management Co. Ltd purchased a new stake in Legend Biotech in the 3rd quarter worth approximately $104,000. Clearstead Advisors LLC grew its stake in Legend Biotech by 310.7% in the 4th quarter. Clearstead Advisors LLC now owns 3,479 shares of the company’s stock worth $76,000 after buying an additional 2,632 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Legend Biotech by 1,730.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,569 shares of the company’s stock worth $78,000 after buying an additional 3,374 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Legend Biotech

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 analyst consensus. Revenue reached $387.5 million, ahead of the $355.96 million estimate and up 51.9% year over year, providing evidence of continued commercial momentum. Legend Biotech earnings report
Positive Sentiment: Coverage highlighted adjusted EPS that was approximately double consensus expectations and the company’s first quarter of company-wide profitability, strengthening the investment case for operating leverage as sales grow. Legend Biotech gains on earnings beat
Positive Sentiment: Analysts set a reported price target of $55.29 for Legend Biotech, substantially above the stock’s recent trading level. The target signals considerable potential upside if Carvykti growth and the company’s profitability trajectory continue. Analysts set Legend Biotech price target
Neutral Sentiment: Investor attention remains focused on Carvykti demand, manufacturing capacity and management’s outlook, which will determine whether the latest revenue growth can be sustained. Legend Biotech Carvykti earnings preview
Neutral Sentiment: A report showing zero shares sold short and a zero-day short-interest ratio appears inconsistent with normal market data, limiting its usefulness as a signal for trading sentiment.

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.