FY2024 EPS Estimates for Legend Biotech Decreased by Analyst

Legend Biotech Co. (NASDAQ:LEGN) – Research analysts at William Blair decreased their FY2024 earnings per share (EPS) estimates for shares of Legend Biotech in a research report issued on Tuesday, November 12th. William Blair analyst S. Corwin now forecasts that the company will earn ($1.41) per share for the year, down from their prior forecast of ($1.34). The consensus estimate for Legend Biotech’s current full-year earnings is ($1.48) per share. William Blair also issued estimates for Legend Biotech’s Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.14) EPS, Q4 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.59) EPS.

Legend Biotech (NASDAQ:LEGN) last released its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.22. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The business had revenue of $160.20 million for the quarter, compared to analysts’ expectations of $143.91 million. During the same period last year, the company earned ($0.17) earnings per share. The company’s quarterly revenue was up 66.9% on a year-over-year basis.

A number of other equities research analysts also recently issued reports on LEGN. Scotiabank boosted their price target on Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a report on Tuesday, October 29th. Finally, Redburn Atlantic initiated coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective for the company. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Legend Biotech currently has a consensus rating of “Buy” and a consensus price target of $81.46.

Legend Biotech Stock Up 1.4 %

Shares of NASDAQ LEGN opened at $39.89 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.78. The firm has a fifty day moving average of $46.49 and a 200-day moving average of $48.34. Legend Biotech has a 52-week low of $38.60 and a 52-week high of $70.13.

Institutional Trading of Legend Biotech

Large investors have recently modified their holdings of the business. US Bancorp DE boosted its holdings in Legend Biotech by 4.5% in the first quarter. US Bancorp DE now owns 6,835 shares of the company’s stock valued at $383,000 after purchasing an additional 293 shares during the last quarter. American International Group Inc. boosted its stake in shares of Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after buying an additional 300 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of Legend Biotech by 3.0% during the third quarter. Avior Wealth Management LLC now owns 11,097 shares of the company’s stock worth $541,000 after buying an additional 323 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Legend Biotech by 1.6% in the second quarter. Public Sector Pension Investment Board now owns 24,689 shares of the company’s stock valued at $1,093,000 after acquiring an additional 400 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Legend Biotech by 9.7% during the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the company’s stock valued at $313,000 after acquiring an additional 494 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

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).