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

Legend Biotech Co. (NASDAQ:LEGN) – Research analysts at HC Wainwright boosted their Q3 2024 earnings per share estimates for Legend Biotech in a report issued on Monday, September 30th. HC Wainwright analyst M. Kapoor now anticipates that the company will post earnings per share of ($0.22) for the quarter, up from their prior estimate of ($0.44). HC Wainwright 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 ($1.46) per share. HC Wainwright also issued estimates for Legend Biotech’s Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.61) EPS, Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at $0.10 EPS and FY2025 earnings at $0.05 EPS.

A number of other analysts have also recently issued reports on the stock. TD Cowen cut 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 note on Monday, July 15th. Piper Sandler restated an “overweight” rating and set a $90.00 price objective on shares of Legend Biotech in a research report on Monday, June 17th. Royal Bank of Canada restated an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a report on Friday, September 27th. Truist Financial assumed coverage on Legend Biotech in a research note on Monday, June 17th. They set a “buy” rating and a $88.00 target price on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and set a $90.00 price target on shares of Legend Biotech in a report on Wednesday, July 3rd. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $81.78.

Legend Biotech Trading Down 1.8 %

LEGN stock opened at $47.79 on Wednesday. Legend Biotech has a one year low of $38.60 and a one year high of $70.78. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of -36.76 and a beta of 0.10. The company has a fifty day moving average price of $53.28 and a two-hundred day moving average price of $50.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.84 and a quick ratio of 4.78.

Legend Biotech (NASDAQ:LEGN) last issued 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 company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $125.25 million. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The firm’s revenue for the quarter was up 154.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.27) EPS.

Institutional Trading of Legend Biotech

A number of institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Legend Biotech by 71.6% in the fourth quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company’s stock worth $138,776,000 after purchasing an additional 962,381 shares during the period. RA Capital Management L.P. grew its stake in Legend Biotech by 9.5% during the first quarter. RA Capital Management L.P. now owns 6,861,097 shares of the company’s stock worth $384,839,000 after buying an additional 596,390 shares in the last quarter. Altitude Crest Partners Inc. bought a new position in Legend Biotech in the 4th quarter valued at about $32,601,000. Westfield Capital Management Co. LP raised its position in shares of Legend Biotech by 26.1% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,239,774 shares of the company’s stock valued at $125,629,000 after buying an additional 463,527 shares in the last quarter. Finally, Capital International Investors raised its position in shares of Legend Biotech by 19.5% in the 1st quarter. Capital International Investors now owns 2,181,074 shares of the company’s stock valued at $122,336,000 after buying an additional 356,387 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).