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LEGNBullishEarningsnews
High materiality7/10

Legend Biotech Q1 Results Miss Estimates but Analysts Adjust Price Targets

May 13, 2026, 2:26 PM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting

Despite the earnings miss, analyst upgrades signal confidence in future growth; historically, such responses often result in price stabilization or upside.

AI summary

What happened, with direct paths to the underlying reporting

Legend Biotech reported disappointing Q1 results, missing earnings and sales estimates. Despite this, analysts adjusted their price targets, with RBC Capital remaining optimistic, suggesting potential for stock upside.

  • LEGN missed Q1 earnings estimates with a $0.03 loss per share.
  • Sales of $305.1 million fell short of the $307.03 million target.
  • RBC Capital raised its price target from $62 to $64 while maintaining bullish outlook.
  • Morgan Stanley lowered its price target from $49 to $48, keeping an Overweight rating.
  • TD Cowen raised its price target from $21 to $29, retaining a Hold rating.

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StockNews.AI groups source reporting, classifies the event, and measures subsequent price movement. This is informational research, not investment advice. Prices may be delayed or unavailable.

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