Legend Biotech (NASDAQ:LEGN) given new $58.00 price target at Royal Bank Of Canada. August 12, 2026 Key points. * Royal Bank of Canada lowered Legend Biotech's price target to $58 from $59 while maintaining an "outperform" rating, implying 176.32% potential upside from the prior close. * Legend Biotech reported quarterly EPS of $0.09 versus the $0.07 consensus estimate, while revenue of $387.5 million exceeded expectations and increased 51.9% year over year. * Shares fell 3.8% to $20.99, despite generally favorable analyst coverage; eight analysts rate the stock a Buy, six a Hold and one a Sell, with an average target price of $52.57. * Five stocks to consider instead of Legend Biotech. Legend Biotech (NASDAQ:LEGN - Get Free Report) had its target price cut by analysts at Royal Bank Of Canada from $59.00 to $58.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 176.32% from the company's previous close. LEGN has been the subject of several other research reports. HC Wainwright reiterated a "buy" rating and issued a $65.00 price target on shares of Legend Biotech in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Legend Biotech from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. started coverage on shares of Legend Biotech in a research report on Monday, July 13th. They issued a "neutral" rating and a $35.00 price objective on the stock. Barclays reduced their target price on shares of Legend Biotech from $80.00 to $78.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Benchmark reiterated a "buy" rating on shares of Legend Biotech in a report on Tuesday, July 28th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $52.57. Legend Biotech trading down 3.8%. Shares of NASDAQ:LEGN traded down $0.84 during trading on Wednesday, hitting $20.99. 222,918 shares of the company's stock traded hands, compared to its average volume of 2,499,674. Legend Biotech has a 52 week low of $16.24 and a 52 week high of $38.35. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -31.07 and a beta of 0.37. The company has a 50-day moving average price of $26.68 and a 200-day moving average price of $23.15. Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. The business had revenue of $387.50 million during the quarter, compared to analysts' expectations of $355.96 million. Legend Biotech had a negative return on equity of 24.92% and a negative net margin of 21.98%.Legend Biotech's revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. On average, analysts predict that Legend Biotech will post -0.01 earnings per share for the current fiscal year. Insiders place their bets. In other 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 transaction, the chief executive officer directly owned 241,872 shares of the company's stock, valued at $3,574,868.16. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.02% of the stock is currently owned by company insiders. Institutional trading of Legend Biotech. Institutional investors have recently made changes to their positions in the business. First Trust Advisors LP bought a new stake in Legend Biotech during the 2nd quarter worth about $411,000. Squarepoint Ops LLC grew its holdings in shares of Legend Biotech by 77.6% in the 2nd quarter. Squarepoint Ops LLC now owns 148,681 shares of the company's stock valued at $5,277,000 after acquiring an additional 64,956 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Legend Biotech by 16.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 84,081 shares of the company's stock valued at $2,984,000 after acquiring an additional 11,771 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Legend Biotech by 3.5% in the second quarter. Alliancebernstein L.P. now owns 1,560,596 shares of the company's stock valued at $55,386,000 after acquiring an additional 52,344 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Legend Biotech in the second quarter valued at about $15,790,000. Institutional investors own 70.89% of the company's stock. 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. Legend Biotech company profile. 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. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Continue following MarketBeat Before you consider Legend Biotech, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Legend Biotech wasn't on the list. 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Legend Biotech shares rose 5.5% in pre-market trading after reporting second-quarter results that exceeded expectations. The pharmaceutical company posted adjusted earnings of $0.16 per share, more than double the $0.07 analyst consensus, whilst revenue reached $387.5M, ahead of the $362.81M estimate. CARVYKTI net trade sales hit approximately $657M during the quarter, representing 50% year-on-year growth. US sales increased 32%, whilst international sales jumped 128%. The therapy is now available through 348 sites across 19 markets. Legend Biotech swung to operating profit, recording operating income of $57.7M compared with a $21.9M loss in the same quarter last year. Net income reached $33.2M, reversing a $125.4M loss from the previous year.

Legend Biotech achieves profitability and breakthroughs in cell therapy with Q2 2026 results. 11 August 2026, 7:35 AM First-Ever quarterly profit and major pipeline progress highlight Q2. Legend Biotech's second quarter of 2026 marked a major inflection point: the company posted its first-ever quarterly profit, driven by a surge in global CARVYKTI(R) sales, expansion into new markets, and significant milestones in its innovative cell therapy pipeline. The financial and clinical progress underscores the company's momentum as it advances toward company-wide profitability and sector leadership. CARVYKTI(R) drives robust revenue Growth across global markets. Net trade sales of CARVYKTI(R) soared 50% versus Q2 2025 to $657 million, fueled by launches in new territories - including Ireland, Legend's 19th global market. U.S. net sales grew 32% year-over-year, with ex-U.S. markets notching a remarkable 128% increase. CARVYKTI(R) is now available at 348 global sites, reflecting an accelerating trajectory for patient access and commercial reach. | Region | Q2 2026 Net Sales ($M) | YOY Growth (%) | Global Sites | | U.S. 472.0 | 32 | 348 | | Rest of World | 185.0 | 128 | | Total | 657.0 | 50 | - | Pipeline shows clinical momentum: 100% ORR for LB2501 at high dose. Legend notched its first clinical proof-of-concept for LB2501, an innovative in vivo CD19/CD20 dual-targeting CAR-T therapy. At the higher dose level, 100% overall response rate (ORR) and 83.3% complete response (CR) were observed in relapsed/refractory B-cell non-Hodgkin lymphoma - without serious adverse events or dose-limiting toxicities. This early data demonstrates the potential for a new generation of CAR-T therapies with improved safety and in vivo production. The company also reported encouraging first-in-human results for LB2102, targeting DLL3 in small-cell lung cancer and large-cell neuroendocrine carcinoma. At higher doses, the therapy achieved a 28.6% ORR and a 78.6% disease control rate (DCR), showing durable responses in heavily pretreated patients. Profitability achieved as operating metrics show substantial improvement. For the first time, Legend posted net income: $33.2 million (Q2 2026), reversing a $125.4 million net loss in the same period last year. Adjusted net income (removing non-cash/exchange effects) reached $63.1 million, up from $10.1 million a year prior. The turnaround reflects higher gross profits from CARVYKTI(R), milestone payments, and improved operating leverage. | Metric | Q2 2026 ($M) | Q2 2025 ($M) | YOY Change ($M) | | Net Income (Loss) | 33.2 | (125.4) | 158.6 | | Adjusted Net Income | 63.1 | 10.1 | 53.0 | | Operating Income (Loss) | 57.7 | (21.9) | 79.6 | | Total Revenue | 387.5 | 255.1 | 132.4 | The bottom-line resurgence was accompanied by a robust balance sheet: $965 million in cash and time deposits as of June 30, 2026 - thanks in part to a successful $212 million public offering of American Depositary Shares. The company estimates this financial runway extends beyond 2026, cushioning research, expansion, and future launches. Research spend reflects clinical advances, while cost controls improve leverage. Research and development expenses declined slightly to $96.0 million, as dosing phases of key trials concluded, while commercial and distribution costs climbed with expanded CARVYKTI(R) access and revenue. Administrative expenses remained stable year-over-year, reflecting tight operational control despite expanding global operations. Durable Growth across hematology and oncology portfolio. New CARTITUDE program results continue to support durable efficacy and a consistent safety profile for CARVYKTI(R) in multiple myeloma, including sustained progression-free and overall survival benefits and low rates of severe adverse events. Legend's expanding clinical and commercial footprint across a variety of blood cancers and solid tumors speaks to a maturing, diversified pipeline with real-world momentum. Key takeaway: positioned for long-term value as profitability arrives. Legend Biotech's surge to quarterly profitability, growing CAR-T portfolio, and strengthened cash position confirm the company's transition from rapid innovator to sustainable market leader. Investors and industry watchers may want to focus on upcoming clinical readouts from LB2501, rollout progress for CARVYKTI(R), and whether Legend can deliver multi-quarter profitability - a milestone not just for the firm, but for the cell therapy sector itself. Contact Information: If you have feedback or concerns about the content, please feel free to reach out to Market Chameleon via email at [email protected]. About the Publisher - Marketchameleon.com: Marketchameleon is a comprehensive financial research and analysis website specializing in stock and options markets. Market Chameleon leverage extensive data, models, and analytics to provide valuable insights into these markets. Its primary goal is to assist traders in identifying potential market developments and assessing potential risks and rewards. NOTE: Stock and option trading involves risk that may not be suitable for all investors. Examples contained within this report are simulated and may have limitations. 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