Q3 2024 EPS Estimates for Legend Biotech Co. (NASDAQ:LEGN) Boosted by Analyst

Legend Biotech Co. (NASDAQ:LEGN) – Equities researchers at HC Wainwright boosted their Q3 2024 earnings per share (EPS) estimates for shares of Legend Biotech in a note issued to investors on Tuesday, April 16th. HC Wainwright analyst M. Kapoor now expects that the company will earn ($0.18) per share for the quarter, up from their prior estimate of ($0.19). HC Wainwright currently has a “Buy” rating and a $87.00 target price on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.43) per share.

A number of other equities analysts have also issued reports on LEGN. Raymond James assumed coverage on Legend Biotech in a report on Wednesday, March 13th. They issued an “outperform” rating and a $86.00 price objective for the company. Cantor Fitzgerald assumed coverage on Legend Biotech in a report on Wednesday, April 3rd. They issued an “overweight” rating and a $82.00 price objective for the company. Scotiabank raised Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 price objective for the company in a report on Wednesday. Barclays increased their price objective on Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, UBS Group increased their price target on Legend Biotech from $76.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Legend Biotech presently has an average rating of “Moderate Buy” and an average target price of $83.26.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $46.19 on Thursday. Legend Biotech has a 12-month low of $45.68 and a 12-month high of $77.32. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of -31.21 and a beta of 0.01. The business has a 50 day simple moving average of $59.31 and a 200 day simple moving average of $60.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.92 and a quick ratio of 6.83.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping 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 business had revenue of $76.50 million during the quarter, compared to analyst estimates of $95.63 million. Legend Biotech’s revenue for the quarter was up 177.2% compared to the same quarter last year.

Hedge Funds Weigh In On Legend Biotech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEGN. BluePath Capital Management LLC bought a new stake in shares of Legend Biotech during the 3rd quarter worth $32,000. Coppell Advisory Solutions LLC bought a new stake in shares of Legend Biotech during the 2nd quarter worth $41,000. American International Group Inc. bought a new stake in shares of Legend Biotech during the 2nd quarter worth $33,000. Lazard Asset Management LLC bought a new stake in shares of Legend Biotech during the 4th quarter worth $33,000. Finally, Quarry LP bought a new stake in shares of Legend Biotech during the 4th quarter worth $45,000. 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).