Q3 2024 Earnings Forecast for Legend Biotech Co. Issued By HC Wainwright (NASDAQ:LEGN)

Legend Biotech Co. (NASDAQ:LEGN - Free Report) - Investment analysts at HC Wainwright boosted their Q3 2024 earnings 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 of ($0.18) per share for the quarter, up from their prior estimate of ($0.19). 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 ($1.42) per share.

Several other research analysts have also commented on the stock. Barclays raised their price objective on shares of Legend Biotech from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. UBS Group boosted their price target on shares of Legend Biotech from $76.00 to $81.00 and gave the stock a "buy" rating in a research note on Monday, March 18th. Cantor Fitzgerald assumed coverage on Legend Biotech in a research note on Wednesday, April 3rd. They issued an "overweight" rating and a $82.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $85.00 price objective on shares of Legend Biotech in a research report on Thursday, March 7th. Finally, Scotiabank raised Legend Biotech from a "sector perform" rating to a "sector outperform" rating and set a $65.00 target price on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Legend Biotech currently has an average rating of "Moderate Buy" and an average price target of $82.70.

Legend Biotech Trading Down 3.5 %

LEGN traded down $1.71 during mid-day trading on Thursday, hitting $47.12. 816,003 shares of the stock were exchanged, compared to its average volume of 992,269. The company has a market cap of $8.57 billion, a PE ratio of -31.84 and a beta of 0.01. The company has a current ratio of 6.92, a quick ratio of 6.83 and a debt-to-equity ratio of 0.22. The firm's fifty day moving average is $59.61 and its two-hundred day moving average is $60.96. Legend Biotech has a 1-year low of $47.08 and a 1-year high of $77.32.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.40) EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $95.63 million. The firm's revenue for the quarter was up 177.2% compared to the same quarter last year.

Institutional Trading of Legend Biotech

Several institutional investors and hedge funds have recently bought and sold shares of LEGN. BluePath Capital Management LLC purchased a new position in shares of Legend Biotech in the 3rd quarter valued at approximately $32,000. Coppell Advisory Solutions LLC purchased a new position in Legend Biotech in the 2nd quarter valued at $41,000. American International Group Inc. acquired a new position in Legend Biotech in the 2nd quarter valued at $33,000. Lazard Asset Management LLC purchased a new position in Legend Biotech during the 4th quarter worth $33,000. Finally, Quarry LP acquired a new stake in shares of Legend Biotech in the 4th quarter worth $45,000. Hedge funds and other institutional investors own 70.89% of the company's stock.

Legend Biotech Company Profile

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).