Q1 2024 Earnings Forecast for Legend Biotech Co. (NASDAQ:LEGN) Issued By HC Wainwright

Legend Biotech Co. (NASDAQ:LEGNFree Report) – Equities research analysts at HC Wainwright lowered their Q1 2024 earnings estimates for shares of Legend Biotech in a research report issued to clients and investors on Tuesday, April 16th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn ($0.01) per share for the quarter, down from their previous forecast of $0.01. HC Wainwright currently has a “Buy” rating and a $87.00 price target on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.42) per share.

Legend Biotech (NASDAQ:LEGNGet Free Report) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.30. Legend Biotech had a negative net margin of 181.75% and a negative return on equity of 37.19%. The firm had revenue of $76.50 million during the quarter, compared to the consensus estimate of $95.63 million. The business’s revenue for the quarter was up 177.2% on a year-over-year basis.

Other analysts also recently issued research reports about the stock. Barclays increased their price objective on shares of Legend Biotech from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Scotiabank upgraded shares of 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. Raymond James assumed coverage on shares of Legend Biotech in a research note on Wednesday, March 13th. They issued an “outperform” rating and a $86.00 price target for the company. UBS Group increased their price target on shares of Legend Biotech from $76.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Cantor Fitzgerald assumed coverage on shares of Legend Biotech in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $82.00 price target for the company. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.70.

View Our Latest Research Report on LEGN

Legend Biotech Stock Down 2.6 %

LEGN opened at $48.83 on Wednesday. Legend Biotech has a twelve month low of $48.03 and a twelve month high of $77.32. The company has a quick ratio of 6.83, a current ratio of 6.92 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $59.84 and a 200 day moving average price of $61.06. The company has a market cap of $8.88 billion, a PE ratio of -32.99 and a beta of 0.01.

Institutional Investors Weigh In On Legend Biotech

Hedge funds and other institutional investors have recently modified their holdings of the company. BluePath Capital Management LLC purchased a new stake in shares of Legend Biotech in the third quarter valued at about $32,000. Coppell Advisory Solutions LLC purchased a new stake in Legend Biotech in the 2nd quarter valued at approximately $41,000. American International Group Inc. purchased a new stake in Legend Biotech in the 2nd quarter valued at approximately $33,000. Lazard Asset Management LLC purchased a new stake in Legend Biotech in the 4th quarter valued at approximately $33,000. Finally, Quarry LP purchased a new stake in Legend Biotech in the 4th quarter valued at approximately $45,000. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Company Profile

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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

Earnings History and Estimates for Legend Biotech (NASDAQ:LEGN)

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