FY2025 EPS Estimates for Legend Biotech Boosted by Analyst

Legend Biotech Co. (NASDAQ:LEGN - Free Report) - Equities researchers at HC Wainwright boosted their FY2025 earnings per share (EPS) estimates for shares of Legend Biotech in a report issued on Wednesday, October 16th. HC Wainwright analyst M. Kapoor now expects that the company will post earnings per share of $0.12 for the year, up from their previous forecast of $0.10. HC Wainwright has a "Buy" rating and a $73.00 price objective on the stock. The consensus estimate for Legend Biotech's current full-year earnings is ($1.51) per share.

LEGN has been the subject of several other reports. Redburn Atlantic assumed coverage on Legend Biotech in a report on Tuesday, October 8th. They set a "buy" rating and a $86.00 price target for the company. BMO Capital Markets reissued an "outperform" rating and set a $90.00 target price on shares of Legend Biotech in a report on Wednesday, July 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a research note on Friday, September 27th. Scotiabank lifted their price objective on shares of Legend Biotech from $70.00 to $76.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 12th. Finally, TD Cowen cut their price objective on shares of Legend Biotech from $71.00 to $67.00 and set a "buy" rating for the company in a report on Monday, July 15th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Legend Biotech currently has an average rating of "Buy" and a consensus target price of $82.08.

Legend Biotech Stock Performance

Shares of NASDAQ:LEGN traded down $0.22 during trading on Friday, reaching $42.87. 1,731,351 shares of the stock were exchanged, compared to its average volume of 1,054,719. Legend Biotech has a 12 month low of $38.60 and a 12 month high of $70.13. The stock has a 50-day moving average price of $51.44 and a 200-day moving average price of $49.36. The company has a current ratio of 4.84, a quick ratio of 4.78 and a debt-to-equity ratio of 0.25. The firm has a market cap of $7.81 billion, a PE ratio of -32.98 and a beta of 0.10.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its earnings results on Friday, August 9th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.49. The business had revenue of $186.50 million during the quarter, compared to the consensus estimate of $125.25 million. Legend Biotech had a negative net margin of 62.50% and a negative return on equity of 23.20%. Legend Biotech's revenue was up 154.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.27) EPS.

Institutional Investors Weigh In On Legend Biotech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of Legend Biotech by 10,075.0% during the 2nd quarter. Blue Trust Inc. now owns 814 shares of the company's stock worth $36,000 after buying an additional 806 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Legend Biotech by 50.0% in the first quarter. American International Group Inc. now owns 900 shares of the company's stock worth $50,000 after acquiring an additional 300 shares during the last quarter. AM Squared Ltd bought a new position in shares of Legend Biotech in the second quarter worth about $71,000. California State Teachers Retirement System boosted its stake in shares of Legend Biotech by 196.3% in the 1st quarter. California State Teachers Retirement System now owns 3,345 shares of the company's stock valued at $188,000 after purchasing an additional 2,216 shares in the last quarter. Finally, BNP Paribas bought a new stake in shares of Legend Biotech during the 1st quarter valued at approximately $199,000. 70.89% of the stock is currently owned by institutional investors.

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).