Legend Biotech (NASDAQ:LEGN) Stock Price Down 5.8% Following Analyst Downgrade

Posted by Geri Gentry on Nov 11th, 2026

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN – Get Free Report)’s stock price fell 5.8% during trading on Wednesday after Royal Bank Of Canada lowered their price target on the stock from $56.00 to $50.00. Royal Bank Of Canada currently has an outperform rating on the stock. Legend Biotech traded as low as $19.52 and last traded at $19.23. Approximately 317,877 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,400,846 shares. The stock had previously closed at $20.41.

LEGN has been the topic of a number of other research reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Legend Biotech in a research note on Monday, July 27th. JPMorgan Chase & Co. lowered their target price on Legend Biotech from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. UBS Group reissued a “buy” rating and issued a $65.00 target price on shares of Legend Biotech in a report on Monday, September 28th. Weiss Ratings upgraded shares of Legend Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Finally, TD Cowen reduced their price target on shares of Legend Biotech from $29.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Legend Biotech currently has an average rating of “Moderate Buy” and a consensus target price of $53.69.

Get Our Latest Stock Report on LEGN

Insider Transactions at Legend Biotech

In other Legend Biotech news, Director Corazon (Corsee) D. Sanders sold 27,370 shares of the company’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $9.46, for a total transaction of $258,920.20. Following the sale, the director directly owned 52,731 shares in the company, valued at $498,835.26. This represents a 34.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Carlos E. Santos sold 5,430 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $9.14, for a total value of $49,630.20. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.02% of the stock is currently owned by company insiders.

Latest Legend Biotech News

Here’s some of the latest news about LEGN:

Positive Sentiment: Longer-term CARVYKTI data showed half of patients in a study cohort remained alive and progression-free without additional anti-myeloma treatment five years after one infusion. Updated U.S. guidelines also recommend referral to a T-cell therapy-capable center at first relapse. Q3 results and highlights
Positive Sentiment: The company said it is targeting adjusted profitability in 2026 and received FDA clearance to begin an investigational in-vivo CAR-T therapy trial, adding a potential pipeline opportunity. Profitability target and margin outlook
Negative Sentiment: Q3 revenue of $359.5 million slightly missed the $361.5 million consensus. RBC and Barclays lowered their price targets to $50 and $61, respectively, although both kept bullish ratings (Outperform and Overweight). RBC price-target report

Institutional Trading of Legend Biotech

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in Legend Biotech by 173.9% in the first quarter. Parallel Advisors LLC now owns 2,084 shares of the company’s stock worth $38,000 after buying an additional 1,323 shares during the last quarter. Toth Financial Advisory Corp bought a new position in Legend Biotech during the third quarter valued at $50,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Legend Biotech in the second quarter valued at $92,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Legend Biotech in the third quarter valued at $136,000. Finally, Nykredit A S purchased a new stake in shares of Legend Biotech in the second quarter valued at $162,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Legend Biotech Stock Performance

The company’s fifty day moving average price is $19.75 and its 200-day moving average price is $22.12. The stock has a market cap of $3.70 billion, a P/E ratio of -76.86 and a beta of 0.55.

Legend Biotech (NASDAQ:LEGN – Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.13. The firm had revenue of $359.50 million during 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%. The firm’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS. Analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -0.08 earnings per share for the current fiscal year.

About Legend Biotech

(Get Free Report)

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.