Legend Biotech (NASDAQ:LEGN) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Legend Biotech (NASDAQ:LEGN) in a research note released on Wednesday,Benzinga reports. They currently have a $73.00 price target on the stock. HC Wainwright also issued estimates for Legend Biotech’s Q4 2024 earnings at ($0.32) EPS, FY2024 earnings at ($1.42) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at ($0.12) EPS.

Several other research analysts also recently weighed in on LEGN. Redburn Atlantic began coverage on Legend Biotech in a research note on Tuesday, October 8th. They set a “buy” rating and a $86.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a research report on Tuesday, October 29th. Finally, Scotiabank boosted their price target on shares of Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research report on Monday, August 12th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $81.46.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $38.19 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.78 and a current ratio of 4.98. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of -40.20 and a beta of 0.11. Legend Biotech has a 52 week low of $38.02 and a 52 week high of $70.13. The firm’s 50-day simple moving average is $46.01 and its two-hundred day simple moving average is $48.23.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $160.20 million for the quarter, compared to analysts’ expectations of $143.91 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. Legend Biotech’s revenue was up 66.9% on a year-over-year basis. As a group, equities analysts forecast that Legend Biotech will post -1.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LEGN. Swiss National Bank increased its holdings in shares of Legend Biotech by 3.9% in the first quarter. Swiss National Bank now owns 159,994 shares of the company’s stock worth $8,974,000 after purchasing an additional 6,000 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Legend Biotech by 82.7% in the 1st quarter. Russell Investments Group Ltd. now owns 183,741 shares of the company’s stock valued at $10,306,000 after acquiring an additional 83,150 shares in the last quarter. US Bancorp DE raised its holdings in shares of Legend Biotech by 4.5% in the 1st quarter. US Bancorp DE now owns 6,835 shares of the company’s stock valued at $383,000 after acquiring an additional 293 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of 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. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Legend Biotech during the first quarter worth about $203,000. 70.89% of the stock is owned by institutional investors.

Legend Biotech Company Profile

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).