Legend Biotech Co. (NASDAQ:LEGN - Free Report) - Analysts at HC Wainwright decreased their Q1 2024 earnings per share (EPS) estimates for shares of Legend Biotech in a research report issued on Monday, April 8th. HC Wainwright analyst M. Kapoor now anticipates that the company will post earnings per share of $0.01 for the quarter, down from their prior estimate of $0.02. HC Wainwright currently has a "Buy" rating and a $87.00 target price 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.
Several other research firms have also weighed in on LEGN. Cantor Fitzgerald started coverage on Legend Biotech in a research report on Wednesday, April 3rd. They set an "overweight" rating and a $82.00 price target on the stock. Scotiabank started coverage on Legend Biotech in a research report on Tuesday, December 19th. They set a "sector perform" rating and a $65.00 price target on the stock. UBS Group boosted their target price on Legend Biotech from $76.00 to $81.00 and gave the stock a "buy" rating in a report on Monday, March 18th. Royal Bank of Canada reissued an "outperform" rating and issued a $85.00 target price on shares of Legend Biotech in a research note on Thursday, March 7th. Finally, Barclays increased their target price on Legend Biotech from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.70.
View Our Latest Stock Report on LEGN
Legend Biotech Stock Up 2.8 %
Shares of NASDAQ LEGN traded up $1.56 during mid-day trading on Tuesday, hitting $56.36. 1,244,153 shares of the stock traded hands, compared to its average volume of 983,098. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.83 and a current ratio of 6.92. Legend Biotech has a 52 week low of $48.37 and a 52 week high of $77.32. The company has a market cap of $10.25 billion, a price-to-earnings ratio of -38.08 and a beta of 0.01. The stock has a fifty day moving average price of $60.43 and a 200-day moving average price of $61.60.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.30. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The company had revenue of $76.50 million for the quarter, compared to analyst estimates of $95.63 million. The firm's quarterly revenue was up 177.2% compared to the same quarter last year.
Institutional Investors Weigh In On Legend Biotech
Institutional investors have recently modified their holdings of the business. RA Capital Management L.P. lifted its holdings in Legend Biotech by 157.1% in the second quarter. RA Capital Management L.P. now owns 6,264,707 shares of the company's stock valued at $432,453,000 after acquiring an additional 3,828,484 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Legend Biotech by 11.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,808,216 shares of the company's stock valued at $650,332,000 after acquiring an additional 1,114,848 shares during the period. Capital World Investors lifted its holdings in 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 acquiring an additional 1,020,545 shares during the period. Wellington Management Group LLP lifted its holdings in Legend Biotech by 71.6% in the fourth quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company's stock valued at $138,776,000 after acquiring an additional 962,381 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of Legend Biotech in the second quarter worth about $62,614,000. 70.89% of the stock is owned by hedge funds and other institutional investors.
About Legend Biotech
(
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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).
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