Q4 EPS Estimates for Legend Biotech Lifted by HC Wainwright

Legend Biotech Co. (NASDAQ:LEGN) – Stock analysts at HC Wainwright boosted their Q4 2024 EPS estimates for shares of Legend Biotech in a note issued to investors on Thursday, January 23rd. HC Wainwright analyst M. Kapoor now expects that the company will earn ($0.30) per share for the quarter, up from their prior forecast of ($0.32). HC Wainwright currently has a “Buy” rating and a $73.00 target price on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.24) per share.

Several other research analysts have also weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $78.00 price objective on shares of Legend Biotech in a research note on Monday, December 30th. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. Redburn Atlantic assumed coverage on Legend Biotech in a research report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $83.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $79.50.

Legend Biotech Price Performance

Shares of LEGN opened at $36.01 on Monday. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $36.35 and its 200 day simple moving average is $45.54. Legend Biotech has a 1-year low of $30.17 and a 1-year high of $70.13. The company has a market cap of $6.58 billion, a price-to-earnings ratio of -37.90 and a beta of 0.16.

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

Institutional Investors Weigh In On Legend Biotech

A number of hedge funds and other institutional investors have recently modified their holdings of LEGN. FMR LLC increased its position in Legend Biotech by 4.0% during the third quarter. FMR LLC now owns 18,330,219 shares of the company’s stock worth $893,232,000 after acquiring an additional 708,620 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Legend Biotech by 5.6% during the third quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock worth $245,526,000 after purchasing an additional 266,296 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Legend Biotech by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company’s stock valued at $110,868,000 after buying an additional 314,449 shares in the last quarter. Matthews International Capital Management LLC boosted its stake in shares of Legend Biotech by 14.9% in the fourth quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company’s stock valued at $38,577,000 after buying an additional 153,665 shares during the period. Finally, State Street Corp grew its position in Legend Biotech by 0.4% during the third quarter. State Street Corp now owns 1,140,222 shares of the company’s stock worth $55,563,000 after buying an additional 4,735 shares in the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

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).