Legend Biotech Co. (NASDAQ:LEGN - Free Report) - Investment analysts at HC Wainwright boosted their Q4 2024 earnings per share (EPS) estimates for Legend Biotech in a research note issued on Thursday, January 23rd. HC Wainwright analyst M. Kapoor now expects that the company will earn ($0.30) per share for the quarter, up from their previous forecast of ($0.32). 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 ($1.24) per share.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.56) by $0.22. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business had revenue of $160.20 million for the quarter, compared to analysts' expectations of $143.91 million. During the same period in the previous year, the firm posted ($0.17) EPS. The company's quarterly revenue was up 66.9% on a year-over-year basis.
LEGN has been the subject of several other research reports. 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 assumed coverage on Legend Biotech in a research report on Tuesday, October 8th. They set a "buy" rating and a $86.00 price objective for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $86.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $83.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $79.50.
Check Out Our Latest Stock Analysis on Legend Biotech
Shares of LEGN opened at $36.91 on Monday. The business's 50-day moving average price is $36.37 and its 200 day moving average price is $45.64. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $6.74 billion, a P/E ratio of -38.85 and a beta of 0.16. Legend Biotech has a 1-year low of $30.17 and a 1-year high of $70.13.
Hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB boosted its position in Legend Biotech by 14.2% during the fourth quarter. Nordea Investment Management AB now owns 266,232 shares of the company's stock worth $8,684,000 after purchasing an additional 33,024 shares during the period. Franklin Resources Inc. bought a new stake in shares of Legend Biotech during the 3rd quarter worth $12,837,000. Westfield Capital Management Co. LP boosted its holdings 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. Geode Capital Management LLC grew its stake in Legend Biotech by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 494,864 shares of the company's stock valued at $23,933,000 after buying an additional 17,337 shares during the last quarter. Finally, Empire Life Investments Inc. raised its holdings in Legend Biotech by 75.2% in the 3rd quarter. Empire Life Investments Inc. now owns 98,688 shares of the company's stock worth $4,809,000 after acquiring an additional 42,368 shares during the period. Institutional investors and hedge funds own 70.89% of the company's stock.
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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