Legend Biotech FY2024 EPS Forecast Lowered by HC Wainwright

Legend Biotech Co. (NASDAQ:LEGN - Free Report) - Investment analysts at HC Wainwright dropped their FY2024 EPS estimates for Legend Biotech in a report released on Wednesday, November 13th. HC Wainwright analyst M. Kapoor now expects that the company will earn ($1.42) per share for the year, down from their prior estimate of ($1.06). HC Wainwright currently has a "Buy" rating and a $73.00 price target on the stock. The consensus estimate for Legend Biotech's current full-year earnings is ($1.48) per share. HC Wainwright also issued estimates for Legend Biotech's Q4 2024 earnings at ($0.32) EPS, Q1 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.18) EPS and FY2025 earnings at ($0.12) EPS.

Several other equities research analysts also recently weighed in on LEGN. Scotiabank increased their target price on shares of Legend Biotech from $70.00 to $76.00 and gave the company a "sector outperform" rating in a research note on Monday, August 12th. Redburn Atlantic started coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They issued a "buy" rating and a $86.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a research note on Tuesday, October 29th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $81.46.

Legend Biotech Trading Down 4.3 %

Shares of LEGN traded down $1.70 during midday trading on Friday, hitting $38.19. The stock had a trading volume of 2,297,417 shares, compared to its average volume of 1,100,205. Legend Biotech has a 1 year low of $38.02 and a 1 year high of $70.13. The firm has a market cap of $6.96 billion, a PE ratio of -40.80 and a beta of 0.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.78. The stock's 50 day moving average is $46.21 and its 200 day moving average is $48.28.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.56) by $0.22. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm had revenue of $160.20 million during the quarter, compared to analyst estimates of $143.91 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Legend Biotech's revenue for the quarter was up 66.9% on a year-over-year basis.

Institutional Trading of Legend Biotech

A number of institutional investors have recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of Legend Biotech by 4.5% in the 1st quarter. US Bancorp DE now owns 6,835 shares of the company's stock valued at $383,000 after buying an additional 293 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Legend Biotech by 50.0% in the 1st quarter. American International Group Inc. now owns 900 shares of the company's stock valued at $50,000 after buying an additional 300 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Legend Biotech by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 11,097 shares of the company's stock valued at $541,000 after buying an additional 323 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Legend Biotech by 1.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 24,689 shares of the company's stock valued at $1,093,000 after buying an additional 400 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Legend Biotech by 9.7% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the company's stock valued at $313,000 after buying an additional 494 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors.

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).