Legend Biotech FY2025 EPS Estimate Lifted by HC Wainwright

Legend Biotech Co. (NASDAQ:LEGN) – HC Wainwright upped their FY2025 earnings per share (EPS) estimates for shares of Legend Biotech in a research note 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 currently has a “Buy” rating and a $73.00 target price on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.51) per share.

A number of other research analysts also recently commented on LEGN. 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. BMO Capital Markets reiterated an “outperform” rating and set a $90.00 price target on shares of Legend Biotech in a report on Wednesday, July 3rd. Redburn Atlantic initiated coverage on Legend Biotech in a research note on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a research note on Friday, September 27th. Finally, TD Cowen decreased their target price on Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $82.08.

Legend Biotech Price Performance

NASDAQ:LEGN opened at $43.09 on Friday. The stock has a market capitalization of $7.85 billion, a PE ratio of -33.15 and a beta of 0.10. Legend Biotech has a 1-year low of $38.60 and a 1-year high of $70.13. The firm has a fifty day simple moving average of $51.70 and a 200 day simple moving average of $49.46. The company has a current ratio of 4.84, a quick ratio of 4.78 and a debt-to-equity ratio of 0.25.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.49. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The firm had revenue of $186.50 million during the quarter, compared to the consensus estimate of $125.25 million. During the same period last year, the company earned ($0.27) earnings per share. The business’s revenue was up 154.4% compared to the same quarter last year.

Institutional Trading of Legend Biotech

Several hedge funds and other institutional investors have recently bought and sold shares of LEGN. Daiwa Securities Group Inc. boosted its stake in shares of Legend Biotech by 9.0% in the first quarter. Daiwa Securities Group Inc. now owns 6,359 shares of the company’s stock valued at $356,000 after buying an additional 527 shares during the period. TimesSquare Capital Management LLC lifted its position in Legend Biotech by 8.7% during the first quarter. TimesSquare Capital Management LLC now owns 1,158,500 shares of the company’s stock worth $64,980,000 after purchasing an additional 92,611 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Legend Biotech by 21.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 52,584 shares of the company’s stock worth $2,949,000 after buying an additional 9,122 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Legend Biotech during the first quarter worth about $1,949,000. Finally, Janus Henderson Group PLC increased its holdings in Legend Biotech by 8.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,014,012 shares of the company’s stock valued at $112,982,000 after buying an additional 148,855 shares during the period. Institutional investors and hedge funds own 70.89% of the company’s stock.

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).