FY2025 EPS Estimates for Legend Biotech Decreased by Analyst

Key Points

• Analysts at Cantor Fitzgerald have significantly lowered their FY2025 EPS forecast for Legend Biotech to **($1.48)**, down from a previous estimate of **($0.42)**, while maintaining an "Overweight" rating and a **$66.00** price target.
• Legend Biotech's latest earnings report showed a quarterly loss of **($0.34)** EPS, which missed analysts' expectations by **($0.12)**, despite revenue exceeding projections at **$255.06 million**.
• Institutional investors own approximately **70.89%** of Legend Biotech's stock, indicating strong institutional interest in the company despite the lowered earnings forecast.

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) - Equities research analysts at Cantor Fitzgerald cut their FY2025 earnings per share (EPS) estimates for shares of Legend Biotech in a report released on Wednesday, August 27th. Cantor Fitzgerald analyst E. Schmidt now expects that the company will post earnings of ($1.48) per share for the year, down from their previous forecast of ($0.42). Cantor Fitzgerald currently has a "Overweight" rating and a $66.00 target price on the stock. The consensus estimate for Legend Biotech's current full-year earnings is ($1.31) per share. Cantor Fitzgerald also issued estimates for Legend Biotech's FY2026 earnings at $1.78 EPS.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.12). Legend Biotech had a negative return on equity of 32.00% and a negative net margin of 40.83%.The firm had revenue of $255.06 million for the quarter, compared to analysts' expectations of $237.49 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The firm's revenue for the quarter was up 36.8% compared to the same quarter last year.

A number of other equities analysts have also recently issued reports on the stock. Johnson Rice restated a "buy" rating on shares of Legend Biotech in a research report on Thursday, July 17th. HC Wainwright restated a "buy" rating and set a $75.00 price objective on shares of Legend Biotech in a research report on Thursday, July 17th. JPMorgan Chase & Co. increased their target price on Legend Biotech from $77.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, August 25th. Morgan Stanley boosted their price target on Legend Biotech from $81.00 to $83.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Finally, UBS Group set a $54.00 price objective on Legend Biotech and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Legend Biotech currently has an average rating of "Moderate Buy" and an average target price of $74.22.

Legend Biotech Price Performance

Shares of Legend Biotech stock traded up $0.36 on Friday, hitting $34.73. The company's stock had a trading volume of 881,286 shares, compared to its average volume of 993,702. The company has a market capitalization of $6.41 billion, a P/E ratio of -39.47 and a beta of 0.28. Legend Biotech has a 52-week low of $27.34 and a 52-week high of $59.62. The firm has a fifty day moving average price of $37.79 and a 200-day moving average price of $35.09. The company has a quick ratio of 4.57, a current ratio of 4.71 and a debt-to-equity ratio of 0.30.

Hedge Funds Weigh In On Legend Biotech

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of Legend Biotech by 145.4% during the 1st quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock valued at $44,000 after acquiring an additional 765 shares during the last quarter. Quarry LP purchased a new stake in Legend Biotech in the first quarter valued at approximately $48,000. GF Fund Management CO. LTD. acquired a new position in Legend Biotech during the fourth quarter worth approximately $56,000. Brooklyn Investment Group increased its position in Legend Biotech by 1,114.8% during the first quarter. Brooklyn Investment Group now owns 1,725 shares of the company's stock worth $59,000 after purchasing an additional 1,583 shares during the last quarter. Finally, Shell Asset Management Co. raised its stake in Legend Biotech by 62.0% during the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock worth $68,000 after purchasing an additional 800 shares during the period. 70.89% of the stock is currently owned by institutional investors and hedge funds.

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).