Legend Biotech Co. (NASDAQ:LEGN – Free Report) – Stock analysts at HC Wainwright boosted their Q3 2024 EPS estimates for shares of Legend Biotech in a research report issued on Tuesday, April 16th. HC Wainwright analyst M. Kapoor now expects that the company will post earnings of ($0.18) per share for the quarter, up from their previous estimate of ($0.19). HC Wainwright currently has a “Buy” rating and a $87.00 price objective on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.42) per share.
Legend Biotech (NASDAQ:LEGN – Get Free Report) last announced its quarterly earnings results on Monday, March 11th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.30. The business had revenue of $76.50 million for the quarter, compared to the consensus estimate of $95.63 million. Legend Biotech had a negative net margin of 181.75% and a negative return on equity of 37.19%. The firm’s quarterly revenue was up 177.2% compared to the same quarter last year.
View Our Latest Report on LEGN
Legend Biotech Trading Down 2.6 %
LEGN opened at $48.83 on Thursday. The company has a fifty day simple moving average of $59.84 and a 200 day simple moving average of $61.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.83 and a current ratio of 6.92. Legend Biotech has a 12 month low of $48.03 and a 12 month high of $77.32.
Hedge Funds Weigh In On Legend Biotech
Several institutional investors have recently added to or reduced their stakes in LEGN. BluePath Capital Management LLC acquired a new stake in shares of Legend Biotech during the 3rd quarter worth approximately $32,000. American International Group Inc. acquired a new stake in shares of Legend Biotech in the 2nd quarter worth about $33,000. Lazard Asset Management LLC purchased a new position in Legend Biotech during the 4th quarter worth $33,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Legend Biotech in the second quarter valued at about $41,000. Finally, Quarry LP bought a new position in shares of Legend Biotech during the fourth quarter valued at about $45,000. 70.89% of the stock is owned by institutional investors and hedge funds.
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).
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