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

Legend Biotech Co. (NASDAQ:LEGN) – Research analysts at HC Wainwright boosted their Q3 2024 earnings per share (EPS) estimates for shares of Legend Biotech in a research note issued to investors on Tuesday, April 16th. HC Wainwright analyst M. Kapoor now expects that the company will post earnings of ($0.18) per share for the quarter, up from their prior forecast of ($0.19). HC Wainwright 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.

LEGN has been the topic of several other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Legend Biotech in a report on Thursday, March 7th. Barclays increased their price target on shares of Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Raymond James assumed coverage on shares of Legend Biotech in a report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price target on the stock. UBS Group raised their target price on shares of Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Scotiabank upgraded shares of Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 price target on the stock in a research note on Wednesday. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Legend Biotech currently has an average rating of “Moderate Buy” and a consensus target price of $82.70.

Legend Biotech Trading Down 3.5 %

Shares of LEGN stock opened at $47.12 on Thursday. The company’s fifty day simple moving average is $59.61 and its two-hundred day simple moving average is $60.96. 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 has a 1 year low of $47.08 and a 1 year high of $77.32. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of -31.84 and a beta of 0.01.

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

Institutional Trading of Legend Biotech

A number of large investors have recently made changes to their positions in LEGN. Adage Capital Partners GP L.L.C. boosted its stake in shares of Legend Biotech by 101.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,708,510 shares of the company’s stock worth $114,761,000 after purchasing an additional 860,410 shares during the period. Westfield Capital Management Co. LP boosted its position in Legend Biotech by 71.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,668,150 shares of the company’s stock valued at $112,050,000 after buying an additional 696,096 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in Legend Biotech in the 3rd quarter valued at about $974,000. Massachusetts Financial Services Co. MA boosted its position in Legend Biotech by 12.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,867,032 shares of the company’s stock valued at $125,409,000 after buying an additional 212,327 shares during the period. Finally, SG Americas Securities LLC boosted its position in Legend Biotech by 50.2% in the 4th quarter. SG Americas Securities LLC now owns 40,033 shares of the company’s stock valued at $2,409,000 after buying an additional 13,381 shares during the period. 70.89% of the stock is currently owned by institutional investors.

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).