Rating Change
Oppenheimer analysts downgraded Legend Biotech Corporation (NASDAQ:LEGN) from Outperform to Perform on August 12, 2026.
downgradeNASDAQ:LEGN
Legend Biotech Corporation (LEGN) Downgraded to Perform by Oppenheimer
Oppenheimer analysts downgraded Legend Biotech Corporation (NASDAQ:LEGN) from Outperform to Perform on August 12, 2026.
At publication ·
What changed
Legend Biotech Corporation (NASDAQ:LEGN) · downgrade
- Firm
- Oppenheimer
- Rating
- Outperform to Perform
- Price at event
- $20.65
- Market capitalization
- $2.1B
At a glance
Key takeaways
- Oppenheimer downgraded Legend Biotech (LEGN) from Outperform to Perform on August 12, 2026, though the stock maintains 6 Buy and 4 Hold ratings among the 10 most recent analyst assessments.
Market Context
Legend Biotech Corporation operates in the Healthcare sector. The stock currently trades at $20.65 with a market capitalization of $2.1B. The stock has declined 41.0% over the past 52 weeks.
Analyst downgrades can weigh on a stock in the short term as institutional investors who follow Oppenheimer's research adjust their positions. However, downgrades also sometimes create buying opportunities if the market overreacts to the rating change. The reasoning behind the downgrade matters more than the rating itself.
Analyst ratings and price targets are one input among many for investment decisions. Historical studies show that consensus analyst recommendations have mixed predictive power on their own, but significant changes in consensus — such as multiple upgrades or downgrades in a short period — can be more meaningful signals.
Recent Analyst Activity for Legend Biotech Corporation
Among the 10 most recent ratings: 6 Buy, 4 Hold, 0 Sell.
| Date | Firm | Rating | Price Target |
|---|---|---|---|
| Aug 12, 2026 | Oppenheimer | Perform | N/A |
| Aug 12, 2026 | TD Cowen | Hold | N/A |
| Aug 12, 2026 | Morgan Stanley | Overweight | N/A |
| Aug 12, 2026 | RBC Capital | Outperform | N/A |
| Aug 12, 2026 | Barclays | Overweight | N/A |
Related Tools: Analyst Ratings Dashboard | View LEGN Stock Page
Frequently Asked Questions
What does the Perform rating mean for LEGN?
A rating of Perform from Oppenheimer reflects the analyst's outlook on Legend Biotech Corporation (NASDAQ:LEGN). Analyst ratings are one factor investors consider alongside earnings, valuation, and sector trends.
Where can I find more analyst ratings?
Browse recent upgrades and downgrades on our Analyst Ratings Dashboard or the LEGN forecast page.