Analysts Set Expectations for Legend Biotech FY2025 Earnings

Legend Biotech Co. (NASDAQ:LEGN) – Stock analysts at Cantor Fitzgerald boosted their FY2025 earnings estimates for Legend Biotech in a research note issued on Wednesday, May 14th. Cantor Fitzgerald analyst R. Bienkowski now expects that the company will post earnings per share of ($0.42) for the year, up from their previous estimate of ($0.72). Cantor Fitzgerald currently has a “Overweight” rating and a $55.00 target price on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.31) per share.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.33. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm had revenue of $195.05 million for the quarter, compared to analysts’ expectations of $190.83 million.

Other analysts have also recently issued research reports about the stock. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. HC Wainwright restated a “buy” rating and set a $75.00 target price on shares of Legend Biotech in a report on Wednesday, April 16th. Truist Financial dropped their target price on shares of Legend Biotech from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $84.00 price target on shares of Legend Biotech in a research report on Tuesday, April 22nd. Finally, Morgan Stanley lowered their price target on Legend Biotech from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Legend Biotech presently has a consensus rating of “Moderate Buy” and an average price target of $74.73.

Legend Biotech Stock Performance

NASDAQ:LEGN opened at $27.78 on Friday. The stock has a market cap of $5.10 billion, a P/E ratio of -29.24 and a beta of 0.20. The firm’s fifty day simple moving average is $33.47 and its 200 day simple moving average is $35.79. Legend Biotech has a twelve month low of $27.34 and a twelve month high of $60.87. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27.

Hedge Funds Weigh In On Legend Biotech

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Legend Biotech by 145.4% in the 1st quarter. GAMMA Investing LLC now owns 1,291 shares of the company’s stock worth $44,000 after buying an additional 765 shares during the last quarter. Quarry LP purchased a new stake in shares of Legend Biotech during the 1st quarter valued at about $48,000. Signaturefd LLC increased its position in shares of Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock valued at $56,000 after purchasing an additional 1,579 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Legend Biotech during the 4th quarter valued at about $56,000. Finally, Brooklyn Investment Group increased its position in shares of Legend Biotech by 1,114.8% during the 1st quarter. Brooklyn Investment Group now owns 1,725 shares of the company’s stock valued at $59,000 after purchasing an additional 1,583 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

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).