The offering is expected to raise about $226 million before underwriting discounts, commissions, and other expenses. Underwriters also received a 30-day option to purchase up to 1.155 million additional ADSs.
Legend Biotech, which describes itself as the world’s largest standalone cell therapy company focused on cancer treatment , plans to use the proceeds for general corporate purposes.
Recent Earnings
In May, Legend Biotech reported an adjusted loss of 3 cents per share, wider than analysts’ expected loss of 2 cents . Revenue came in at $305.1 million, slightly below the consensus estimate of $307.0 million.
The company ended the quarter with $834.6 million in cash, cash equivalents and time deposits as of March 31, 2026. Management said the cash position should provide sufficient funding beyond 2026, when it expects to achieve company-wide profitability.
LEGN Technical Outlook: Key Support, Resistance And Momentum
The stock’s current price of $31.00 is 2.8% below its 20-day simple moving average (SMA) of $31.90, indicating a short-term bearish trend.
The moving average convergence divergence (MACD) is below its signal line, suggesting that upside momentum is fading unless it can reclaim that baseline.
Key Resistance: $33.50 — a nearby level where rebounds can stall. Key Support: $25.50 — a nearby level where buyers previously stepped in.Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $58.57. Recent analyst moves include:
UBS: Buy (Raises forecast to $49.00) (June 3) HC Wainwright & Co.: Buy (Raises forecast to $65.00) (June 3)How Legend Biotech Ranks On Momentum And Market Signals
Below is the Benzinga Edge scorecard for Legend Biotech Corporation American Depositary Shares, highlighting its strengths and weaknesses compared to the broader market:
Momentum: Bullish (Score: 89.19) — Stock is outperforming the broader market.The Verdict: Legend Biotech’s Benzinga Edge signal reveals a strong momentum-driven story. The company is well-positioned in the biopharmaceutical sector, particularly with its innovative cell therapies.
LEGN ETF Exposure: Funds With The Biggest Positions
Harbor Health Care ETF (NYSE: MEDI ): 3.98% Weight Matthews Emerging Markets Discovery Active ETF (NASDAQ: MEMS ): 2.50% WeightLEGN Stock Price Activity: Legend Biotech shares were down 7.52% at $31.00 during premarket trading on Thursday, according to Benzinga Pro data .
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