HC Wainwright reissued their buy rating on shares of Legend Biotech (NASDAQ:LEGN – Free Report) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $87.00 target price on the stock. HC Wainwright also issued estimates for Legend Biotech’s Q1 2024 earnings at ($0.01) EPS and Q3 2024 earnings at ($0.18) EPS.
A number of other brokerages have also commented on LEGN. Scotiabank started coverage on Legend Biotech in a report on Tuesday, December 19th. They issued a sector perform rating and a $65.00 price objective on the stock. Cantor Fitzgerald started coverage on Legend Biotech in a report on Wednesday, April 3rd. They set an overweight rating and a $82.00 target price on the stock. Royal Bank of Canada reissued an outperform rating and set a $85.00 target price on shares of Legend Biotech in a report on Thursday, March 7th. UBS Group increased their target price on Legend Biotech from $76.00 to $81.00 and gave the stock a buy rating in a report on Monday, March 18th. Finally, Raymond James started coverage on Legend Biotech in a report on Wednesday, March 13th. They set an outperform rating and a $86.00 target price on the stock. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Legend Biotech has a consensus rating of Moderate Buy and a consensus price target of $83.26.
Read Our Latest Analysis on Legend Biotech
Legend Biotech Stock Performance
Legend Biotech (NASDAQ:LEGN – Get Free Report) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.30. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The firm had revenue of $76.50 million for the quarter, compared to analyst estimates of $95.63 million. The firm’s quarterly revenue was up 177.2% on a year-over-year basis. On average, equities analysts forecast that Legend Biotech will post -1.43 EPS for the current year.
Institutional Trading of Legend Biotech
Large investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. boosted its stake in Legend Biotech by 101.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,708,510 shares of the company’s stock valued at $114,761,000 after buying an additional 860,410 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Legend Biotech by 71.6% in the third quarter. Westfield Capital Management Co. LP now owns 1,668,150 shares of the company’s stock valued at $112,050,000 after purchasing an additional 696,096 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Legend Biotech in the third quarter valued at about $974,000. Massachusetts Financial Services Co. MA raised its position in Legend Biotech by 12.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,867,032 shares of the company’s stock valued at $125,409,000 after purchasing an additional 212,327 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Legend Biotech by 50.2% in the fourth quarter. SG Americas Securities LLC now owns 40,033 shares of the company’s stock valued at $2,409,000 after purchasing an additional 13,381 shares during the last quarter. 70.89% of the stock is 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).
See Also
- Five stocks we like better than Legend Biotech
- Insider Selling Explained: Can it Inform Your Investing Choices?
- Comprehensive Analysis of PayPal Stock
- Stock Trading Terms – Stock Terms Every Investor Needs to Know
- Intuitive Surgical Stock Can Trend Much Higher This YearÂ
- Insider Buying Explained: What Investors Need to Know
- Alibaba Stock Analysis: Insights, Trends, and Future Predictions
Receive News & Ratings for Legend Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Legend Biotech and related companies with MarketBeat.com's FREE daily email newsletter.