Stock of the Day

November 2, 2021

Legend Biotech (LEGN)

$18.48
-$1.32 (-6.7%)
Market Cap: $3.84B

About Legend Biotech

Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery, development, manufacturing, and commercialization of novel cell therapies for oncology and other indications in the United States, China, and internationally. Its lead product candidate, LCAR- B38M, is a chimeric antigen receptor for the treatment of multiple myeloma (MM). The company also has a portfolio of earlier-stage autologous CAR-T product candidates targeting various cancers, including Non-Hodgkins Lymphoma, acute lymphoblastic leukemia, gastric cancer, esophageal cancer, pancreatic cancer, colorectal cancer, hepatocellular carcinoma, small cell lung cancer, and non-small cell lung cancer. It has collaboration and license agreement with Janssen Biotech, Inc. for the development and commercialization of ciltacabtagene autoleucel. The company was founded in 2014 and is based in Somerset, New Jersey. Legend Biotech Corporation is a subsidiary of Genscript Biotech Corporation.

Today's Trend

Legend Biotech Corporation Sponsored ADR (NASDAQ: LEGN) is under pressure despite several favorable developments. The main positives are FDA clearance for a new CAR-T program and improved earnings forecasts, while a Barclays price-target reduction may be weighing on sentiment.

  • The FDA cleared Legend Biotech’s IND application for LB2501, an investigational “in vivo” CAR-T therapy designed to generate dual-targeting CD19/CD20 CAR-T cells inside patients after a single infusion. The clearance supports a planned U.S. Phase 1/2 study for relapsed or refractory B-cell malignancies and advances the company’s cell-engineering platform. Legend Biotech Announces U.S. FDA Clearance of IND Application for LB2501
  • HC Wainwright raised its Q3 2026 EPS forecast to $0.02 from a projected loss of $0.02 and increased its FY2026 estimate to breakeven from a loss of $0.08. The firm maintained a Buy rating and a $65 price target, signaling confidence in improving profitability. Legend Biotech stock rises on Nasdaq
  • HC Wainwright also lifted its Q4 2026 EPS forecast to $0.08 from $0.06. However, the broader current-year consensus remains a loss of $0.09 per share, so investors may continue to focus on execution and the timing of a sustained return to profitability. Analysts offer insights on Legend Biotech
  • Barclays cut its price target for Legend Biotech, creating a negative counterweight to HC Wainwright’s bullish view and potentially contributing to weaker investor sentiment. Legend Biotech stock price target cut by Barclays
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