Legend Biotech Co. (NASDAQ:LEGN - Free Report) - HC Wainwright cut their Q2 2024 earnings per share estimates for Legend Biotech in a research note issued to investors on Monday, April 8th. HC Wainwright analyst M. Kapoor now anticipates that the company will post earnings per share of ($0.12) for the quarter, down from their prior forecast of ($0.03). HC Wainwright has a "Buy" rating and a $87.00 price target on the stock. The consensus estimate for Legend Biotech's current full-year earnings is ($1.40) per share. HC Wainwright also issued estimates for Legend Biotech's Q3 2024 earnings at ($0.19) EPS, Q4 2024 earnings at ($0.13) EPS and FY2024 earnings at ($0.43) EPS.
Other equities research analysts also recently issued research reports about the company. UBS Group raised their price target 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 price target on shares of Legend Biotech in a report on Thursday, March 7th. Cantor Fitzgerald started coverage on Legend Biotech in a report on Wednesday, April 3rd. They set an "overweight" rating and a $82.00 target price for the company. Scotiabank started coverage on Legend Biotech in a report on Tuesday, December 19th. They set a "sector perform" rating and a $65.00 target price for the company. Finally, Raymond James started coverage on Legend Biotech in a report on Wednesday, March 13th. They set an "outperform" rating and a $86.00 target price for the company. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $82.70.
Check Out Our Latest Report on Legend Biotech
Legend Biotech Stock Down 1.5 %
NASDAQ LEGN traded down $0.87 during trading on Wednesday, hitting $55.49. The company's stock had a trading volume of 551,097 shares, compared to its average volume of 976,838. 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 company has a market cap of $10.09 billion, a PE ratio of -38.08 and a beta of 0.01. The business's 50 day simple moving average is $60.43 and its 200-day simple moving average is $61.60. Legend Biotech has a fifty-two week low of $48.80 and a fifty-two week high of $77.32.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.40) earnings per share for the quarter, beating analysts' consensus estimates of ($0.70) by $0.30. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $95.63 million. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The company's revenue was up 177.2% on a year-over-year basis.
Hedge Funds Weigh In On Legend Biotech
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Legend Biotech by 12.0% during the fourth quarter. Vanguard Group Inc. now owns 128,621 shares of the company's stock worth $7,739,000 after buying an additional 13,821 shares during the last quarter. Wellington Management Group LLP boosted its stake in Legend Biotech by 71.6% during the fourth quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company's stock worth $138,776,000 after buying an additional 962,381 shares during the last quarter. Krane Funds Advisors LLC lifted its stake in shares of Legend Biotech by 2.3% in the 4th quarter. Krane Funds Advisors LLC now owns 20,440 shares of the company's stock valued at $1,230,000 after purchasing an additional 451 shares during the last quarter. Quarry LP acquired a new position in shares of Legend Biotech in the 4th quarter valued at $45,000. Finally, Torno Capital LLC acquired a new position in shares of Legend Biotech in the 4th quarter valued at $60,000. Institutional investors and hedge funds own 70.89% of the company's stock.
Legend Biotech Company Profile
(
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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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