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

Legend Biotech Co. (NASDAQ:LEGN) – Research analysts at HC Wainwright boosted their Q3 2024 earnings per share 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 expects that the company will post earnings per share of ($0.18) for the quarter, up from their prior estimate of ($0.19). 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 ($1.43) per share.

Several other analysts have also recently commented on the company. Barclays raised their price target on Legend Biotech from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Cantor Fitzgerald began coverage on Legend Biotech in a report on Wednesday, April 3rd. They issued an “overweight” rating and a $82.00 price target for the company. UBS Group raised their price target on Legend Biotech from $76.00 to $81.00 and gave the company a “buy” rating in a report on Monday, March 18th. Raymond James started coverage on Legend Biotech in a research note on Wednesday, March 13th. They issued an “outperform” rating and a $86.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Legend Biotech in a research note on Thursday, March 7th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Legend Biotech presently has an average rating of “Moderate Buy” and an average target price of $83.26.

Legend Biotech Stock Down 2.0 %

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

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data 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 company had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $95.63 million. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The firm’s revenue was up 177.2% compared to the same quarter last year.

Hedge Funds Weigh In On Legend Biotech

Several hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in Legend Biotech by 11.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,808,216 shares of the company’s stock worth $650,332,000 after buying an additional 1,114,848 shares in the last quarter. BlackRock Inc. increased its position in Legend Biotech by 14.9% during the second quarter. BlackRock Inc. now owns 4,743,594 shares of the company’s stock worth $327,450,000 after buying an additional 615,641 shares in the last quarter. Capital International Investors increased its position in Legend Biotech by 0.4% during the first quarter. Capital International Investors now owns 2,810,737 shares of the company’s stock worth $102,142,000 after buying an additional 11,755 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Legend Biotech by 14.6% in the first quarter. Wellington Management Group LLP now owns 2,609,818 shares of the company’s stock valued at $94,841,000 after purchasing an additional 332,773 shares during the period. Finally, Capital World Investors grew its position in shares of Legend Biotech by 85.5% in the first quarter. Capital World Investors now owns 2,214,024 shares of the company’s stock valued at $80,458,000 after purchasing an additional 1,020,545 shares during the period. 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).