Legend Biotech Co. (NASDAQ:LEGN - Free Report) - Equities researchers at HC Wainwright raised their Q4 2024 EPS estimates for shares of Legend Biotech in a research note issued to investors on Thursday, January 23rd. HC Wainwright analyst M. Kapoor now forecasts that the company will earn ($0.30) per share for the quarter, up from their prior forecast of ($0.32). 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 ($1.24) per share.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.22. The business had revenue of $160.20 million during the quarter, compared to analyst estimates of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. Legend Biotech's quarterly revenue was up 66.9% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share.
Several other analysts also recently weighed in on LEGN. Royal Bank of Canada restated an "outperform" rating and set a $86.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $78.00 target price on shares of Legend Biotech in a research report on Monday, December 30th. Redburn Atlantic began coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They issued a "buy" rating and a $86.00 price objective for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $83.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $79.50.
Read Our Latest Stock Report on Legend Biotech
Legend Biotech Stock Down 0.7 %
Shares of NASDAQ LEGN traded down $0.27 during mid-day trading on Monday, reaching $36.64. 667,797 shares of the company traded hands, compared to its average volume of 1,486,448. The company's fifty day moving average is $36.37 and its two-hundred day moving average is $45.63. Legend Biotech has a fifty-two week low of $30.17 and a fifty-two week high of $70.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The stock has a market cap of $6.69 billion, a PE ratio of -38.57 and a beta of 0.16.
Institutional Trading of Legend Biotech
Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its stake in shares of Legend Biotech by 4.0% during the third quarter. FMR LLC now owns 18,330,219 shares of the company's stock worth $893,232,000 after purchasing an additional 708,620 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Legend Biotech by 5.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company's stock worth $245,526,000 after buying an additional 266,296 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Legend Biotech by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company's stock valued at $110,868,000 after acquiring an additional 314,449 shares during the last quarter. Matthews International Capital Management LLC raised its position in shares of Legend Biotech by 14.9% in the 4th quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company's stock valued at $38,577,000 after acquiring an additional 153,665 shares during the period. Finally, State Street Corp boosted its stake in Legend Biotech by 0.4% during the 3rd quarter. State Street Corp now owns 1,140,222 shares of the company's stock worth $55,563,000 after acquiring an additional 4,735 shares during the last quarter. Institutional investors 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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