FY2024 EPS Estimates for Legend Biotech Boosted by Analyst

Legend Biotech Co. (NASDAQ:LEGN) – Analysts at Cantor Fitzgerald raised their FY2024 EPS estimates for Legend Biotech in a note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst R. Bienkowski now anticipates that the company will post earnings of ($1.50) per share for the year, up from their previous estimate of ($1.70). The consensus estimate for Legend Biotech’s current full-year earnings is ($1.23) per share.

LEGN has been the subject of a number of other reports. Scotiabank boosted their target price 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. Redburn Atlantic started coverage on shares of Legend Biotech in a research report on Tuesday, October 8th. They set a “buy” rating and a $86.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a research report on Tuesday, October 29th. Finally, HC Wainwright restated a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a research report on Wednesday, November 13th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, Legend Biotech presently has a consensus rating of “Buy” and a consensus target price of $81.46.

Legend Biotech Trading Up 2.6 %

NASDAQ LEGN opened at $38.40 on Monday. The company has a market capitalization of $7.00 billion, a PE ratio of -40.42 and a beta of 0.11. The company has a fifty day moving average of $45.52 and a 200 day moving average of $48.19. Legend Biotech has a 1 year low of $36.92 and a 1 year high of $70.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90.

Legend Biotech (NASDAQ:LEGN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.22. The company had revenue of $160.20 million during the quarter, compared to the consensus estimate of $143.91 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm’s quarterly revenue was up 66.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) earnings per share.

Institutional Trading of Legend Biotech

A number of institutional investors and hedge funds have recently modified their holdings of LEGN. Blue Trust Inc. increased its stake in shares of Legend Biotech by 10,075.0% during the second quarter. Blue Trust Inc. now owns 814 shares of the company’s stock worth $36,000 after purchasing an additional 806 shares in the last quarter. American International Group Inc. increased its stake in shares of Legend Biotech by 50.0% during the first quarter. American International Group Inc. now owns 900 shares of the company’s stock worth $50,000 after purchasing an additional 300 shares in the last quarter. AM Squared Ltd purchased a new stake in shares of Legend Biotech during the second quarter worth about $71,000. Quantbot Technologies LP purchased a new stake in shares of Legend Biotech during the third quarter worth about $148,000. Finally, California State Teachers Retirement System increased its stake in shares of Legend Biotech by 196.3% during the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock worth $188,000 after purchasing an additional 2,216 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.

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).