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

Legend Biotech Co. (NASDAQ:LEGN) – Stock analysts at HC Wainwright decreased their Q1 2024 earnings per share (EPS) estimates for Legend Biotech in a research note issued on Monday, April 8th. HC Wainwright analyst M. Kapoor now expects that the company will earn $0.01 per share for the quarter, down from their prior forecast of $0.02. HC Wainwright has a “Buy” rating and a $87.00 price objective on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.39) per share. HC Wainwright also issued estimates for Legend Biotech’s FY2025 earnings at $0.36 EPS.

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

LEGN has been the topic of several other research reports. Barclays raised their target price on shares of Legend Biotech from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Raymond James initiated coverage on shares of Legend Biotech in a report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 target price for the company. 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. Cantor Fitzgerald initiated coverage on Legend Biotech in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $82.00 price objective for the company. Finally, Scotiabank assumed coverage on Legend Biotech in a research note on Tuesday, December 19th. They issued a “sector perform” rating and a $65.00 target price on the stock. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Legend Biotech currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.70.

Legend Biotech Trading Down 0.2 %

NASDAQ:LEGN opened at $54.80 on Tuesday. The stock’s fifty day moving average price is $60.41 and its two-hundred day moving average price is $61.65. Legend Biotech has a 52-week low of $48.37 and a 52-week 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.

Institutional Trading of Legend Biotech

Institutional investors have recently made changes to their positions in the business. BluePath Capital Management LLC acquired a new position in shares of Legend Biotech during the 3rd quarter worth about $32,000. American International Group Inc. acquired a new position in Legend Biotech during the second quarter worth approximately $33,000. Lazard Asset Management LLC bought a new stake in Legend Biotech in the fourth quarter valued at approximately $33,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Legend Biotech in the second quarter valued at approximately $41,000. Finally, Quarry LP acquired a new stake in shares of Legend Biotech in the fourth quarter valued at approximately $45,000. 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).