HC Wainwright Reiterates "Buy" Rating for Legend Biotech (NASDAQ:LEGN)

Legend Biotech (NASDAQ:LEGN - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at HC Wainwright in a report issued on Thursday, MarketBeat Ratings reports. They currently have a $75.00 price target on the stock. HC Wainwright's price objective would indicate a potential upside of 80.33% from the stock's previous close. HC Wainwright also issued estimates for Legend Biotech's Q1 2026 earnings at $0.14 EPS, Q3 2026 earnings at $0.44 EPS and Q4 2026 earnings at $0.76 EPS.

Several other research analysts also recently weighed in on the stock. Truist Financial decreased their target price on shares of Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Royal Bank Of Canada restated an "outperform" rating and issued a $84.00 target price on shares of Legend Biotech in a research note on Tuesday, April 22nd. UBS Group set a $54.00 target price on shares of Legend Biotech and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley restated an "overweight" rating and issued a $81.00 target price (up from $80.00) on shares of Legend Biotech in a research note on Thursday, July 10th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $55.00 target price on shares of Legend Biotech in a research note on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.33.

Legend Biotech Trading Down 1.3%

LEGN traded down $0.54 during trading on Thursday, hitting $41.59. 1,461,490 shares of the company's stock were exchanged, compared to its average volume of 1,370,583. The company has a current ratio of 5.20, a quick ratio of 5.07 and a debt-to-equity ratio of 0.30. Legend Biotech has a 1 year low of $27.34 and a 1 year high of $60.87. The stock has a 50 day moving average price of $33.61 and a 200 day moving average price of $34.36. The firm has a market cap of $7.64 billion, a P/E ratio of -70.49 and a beta of 0.19.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.33. The business had revenue of $195.05 million during the quarter, compared to the consensus estimate of $190.83 million. Legend Biotech had a negative net margin of 29.95% and a negative return on equity of 21.19%. The business's quarterly revenue was up 107.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.16) earnings per share. As a group, analysts expect that Legend Biotech will post -1.31 EPS for the current fiscal year.

Institutional Trading of Legend Biotech

A number of institutional investors and hedge funds have recently modified their holdings of LEGN. GAMMA Investing LLC raised its holdings in shares of Legend Biotech by 145.4% during the first quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock worth $44,000 after purchasing an additional 765 shares during the period. Quarry LP acquired a new stake in shares of Legend Biotech during the first quarter worth $48,000. Signaturefd LLC raised its holdings in shares of Legend Biotech by 1,052.7% during the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company's stock worth $56,000 after purchasing an additional 1,579 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Legend Biotech during the fourth quarter worth $56,000. Finally, Brooklyn Investment Group raised its holdings in shares of 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 period. 70.89% of the stock is 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).