Legend Biotech Co. (NASDAQ:LEGN - Free Report) - Equities researchers at HC Wainwright raised their Q3 2024 earnings per share estimates for shares of Legend Biotech in a research report issued on Wednesday, October 16th. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings of ($0.34) per share for the quarter, up from their prior estimate of ($0.44). 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 ($1.51) per share. HC Wainwright also issued estimates for Legend Biotech's Q4 2024 earnings at ($0.28) EPS and FY2024 earnings at ($1.06) EPS.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.54) by $0.49. Legend Biotech had a negative net margin of 62.50% and a negative return on equity of 23.20%. The firm had revenue of $186.50 million during the quarter, compared to analysts' expectations of $125.25 million. During the same period in the prior year, the company posted ($0.27) earnings per share. The company's revenue for the quarter was up 154.4% compared to the same quarter last year.
Other analysts have also recently issued research reports about the company. BMO Capital Markets reiterated an "outperform" rating and set a $90.00 target price on shares of Legend Biotech in a research report on Wednesday, July 3rd. Scotiabank lifted their price objective on shares of Legend Biotech from $70.00 to $76.00 and gave the company a "sector outperform" rating in a research report on Monday, August 12th. TD Cowen dropped their target price on shares of Legend Biotech from $71.00 to $67.00 and set a "buy" rating for the company in a research report on Monday, July 15th. Redburn Atlantic assumed coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They set a "buy" rating and a $86.00 target price for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a research note on Friday, September 27th. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $82.08.
View Our Latest Stock Report on LEGN
Legend Biotech Price Performance
LEGN stock traded up $0.58 during trading on Monday, reaching $43.45. The company's stock had a trading volume of 1,376,902 shares, compared to its average volume of 1,056,309. The company has a quick ratio of 4.78, a current ratio of 4.84 and a debt-to-equity ratio of 0.25. The company's fifty day moving average is $51.18 and its 200-day moving average is $49.18. The company has a market capitalization of $7.92 billion, a P/E ratio of -33.42 and a beta of 0.10. Legend Biotech has a 1 year low of $38.60 and a 1 year high of $70.13.
Hedge Funds Weigh In On Legend Biotech
A number of institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its stake in Legend Biotech by 4.5% during the first quarter. US Bancorp DE now owns 6,835 shares of the company's stock worth $383,000 after buying an additional 293 shares during the period. American International Group Inc. boosted its stake in shares of Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company's stock worth $50,000 after purchasing an additional 300 shares during the period. Public Sector Pension Investment Board grew its holdings in Legend Biotech by 1.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 24,689 shares of the company's stock valued at $1,093,000 after purchasing an additional 400 shares during the last quarter. ProShare Advisors LLC raised its position in Legend Biotech by 9.7% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the company's stock worth $313,000 after purchasing an additional 494 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Legend Biotech by 9.0% in the first quarter. Daiwa Securities Group Inc. now owns 6,359 shares of the company's stock worth $356,000 after purchasing an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 70.89% of the company's stock.
About Legend Biotech
(
Get Free Report)
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).
Further Reading
Before you consider Legend Biotech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Legend Biotech wasn't on the list.
While Legend Biotech currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Growth stocks offer a lot of bang for your buck, and we've got the next upcoming superstars to strongly consider for your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
