Legend Biotech (NASDAQ:LEGN) Stock Breaks Above 200 Day Moving Average – What’s Next?

07 Nov 2026, 03:21 by Sarita Garza · The Markets Daily

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN – Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $22.10 and traded as high as $23.72. Legend Biotech shares last traded at $22.77, with a volume of 3,155,575 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LEGN shares. Royal Bank Of Canada decreased their target price on Legend Biotech from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 8th. Barclays dropped their price target on Legend Biotech from $74.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. TD Cowen reduced their price objective on Legend Biotech from $29.00 to $24.00 and set a “hold” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of Legend Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, October 19th. Finally, Morgan Stanley set a $65.00 target price on shares of Legend Biotech in a research note on Friday, September 4th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.69.

Read Our Latest Report on LEGN

Legend Biotech Trading Up 3.8%

The business has a 50-day moving average price of $19.67 and a two-hundred day moving average price of $22.10.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. Legend Biotech had a negative return on equity of 8.71% and a negative net margin of 7.21%. The business 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 firm posted $0.03 EPS. The business’s revenue for the quarter was up 51.9% compared to the same quarter last year. Research analysts predict that Legend Biotech Corporation Sponsored ADR will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Legend Biotech

In related news, CFO Carlos E. Santos sold 5,430 shares of the stock in a transaction dated 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 of the company’s stock, valued at $130,208.44. This trade represents a 27.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 27,370 shares of Legend Biotech stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $9.46, for a total transaction of $258,920.20. Following the completion of the sale, the director owned 52,731 shares in the company, valued at approximately $498,835.26. This represents a 34.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in shares of Legend Biotech during the second quarter valued at $55,307,000. Squarepoint Ops LLC raised its stake in shares of Legend Biotech by 60.4% during the second quarter. Squarepoint Ops LLC now owns 769,252 shares of the company’s stock valued at $22,216,000 after purchasing an additional 289,772 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Legend Biotech by 29.5% during the first quarter. Renaissance Technologies LLC now owns 521,800 shares of the company’s stock valued at $9,439,000 after purchasing an additional 119,000 shares in the last quarter. Candriam S.C.A. lifted its holdings in Legend Biotech by 79.6% in the first quarter. Candriam S.C.A. now owns 470,292 shares of the company’s stock worth $8,508,000 after purchasing an additional 208,477 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Legend Biotech by 343.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 406,901 shares of the company’s stock worth $7,361,000 after purchasing an additional 315,176 shares during the period. Institutional investors own 70.89% of the company’s stock.

Legend Biotech Company Profile

(Get Free Report)

Legend Biotech Corporation (NASDAQ: LEGN) is a biotechnology company focused on developing, manufacturing and commercializing cell therapies for cancer and other serious diseases. The company’s primary technology is chimeric antigen receptor T-cell (CAR-T) therapy, which genetically modifies a patient’s immune cells to recognize and attack cancer cells.