Legend Biotech FY2024 EPS Forecast Lowered by William Blair

Legend Biotech Co. (NASDAQ:LEGN) – Investment analysts at William Blair lowered their FY2024 EPS estimates for Legend Biotech in a research note issued on Tuesday, November 12th. William Blair analyst S. Corwin now forecasts that the company will earn ($1.41) per share for the year, down from their previous forecast of ($1.34). The consensus estimate for Legend Biotech’s current full-year earnings is ($1.48) per share. William Blair also issued estimates for Legend Biotech’s Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.14) EPS, Q4 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.59) EPS.

A number of other research analysts also recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $73.00 target price on shares of Legend Biotech in a research report on Wednesday. Scotiabank lifted their price objective on shares of Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 12th. Redburn Atlantic initiated coverage on shares of Legend Biotech in a research report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a report on Tuesday, October 29th. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Legend Biotech has an average rating of “Buy” and a consensus price target of $81.46.

Legend Biotech Price Performance

Shares of LEGN stock opened at $38.19 on Friday. The company has a current ratio of 4.98, a quick ratio of 4.78 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of -40.20 and a beta of 0.11. The firm’s 50 day moving average is $46.01 and its 200-day moving average is $48.27. Legend Biotech has a 1 year low of $38.02 and a 1 year high of $70.13.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.22. The firm 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 last year, the firm posted ($0.17) EPS.

Institutional Investors Weigh In On Legend Biotech

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Legend Biotech by 4.0% in the 3rd quarter. FMR LLC now owns 18,330,219 shares of the company’s stock valued at $893,232,000 after purchasing an additional 708,620 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Legend Biotech by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,949,120 shares of the company’s stock valued at $614,137,000 after acquiring an additional 140,904 shares during the last quarter. RA Capital Management L.P. grew its position in shares of Legend Biotech by 9.5% during the 1st 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 during the period. Westfield Capital Management Co. LP increased its holdings in shares of Legend Biotech by 5.6% during the third quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock valued at $245,526,000 after acquiring an additional 266,296 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Legend Biotech by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company’s stock valued at $110,868,000 after purchasing an additional 314,449 shares in the last quarter. 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).