Legend Biotech (NASDAQ:LEGN) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Legend Biotech (NASDAQ:LEGN) in a report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $75.00 target price on the stock. HC Wainwright also issued estimates for Legend Biotech’s Q4 2025 earnings at $0.10 EPS.

Other equities research analysts have also recently issued reports about the company. Piper Sandler restated an “overweight” rating and set a $78.00 target price on shares of Legend Biotech in a research note on Monday, December 30th. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Finally, Morgan Stanley reduced their price target on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Legend Biotech currently has an average rating of “Moderate Buy” and an average target price of $79.00.

Legend Biotech Price Performance

NASDAQ:LEGN opened at $33.46 on Wednesday. The firm’s 50-day simple moving average is $35.13 and its 200 day simple moving average is $38.00. Legend Biotech has a 52 week low of $29.27 and a 52 week high of $60.87. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of -35.22 and a beta of 0.21. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.46. The business had revenue of $186.50 million for the quarter, compared to the consensus estimate of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm’s quarterly revenue was up 134.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.40) earnings per share. As a group, sell-side analysts predict that Legend Biotech will post -1.31 earnings per share for the current year.

Institutional Investors Weigh In On Legend Biotech

Institutional investors have recently made changes to their positions in the stock. Suvretta Capital Management LLC bought a new position in Legend Biotech during the 4th quarter worth approximately $113,767,000. Invesco Ltd. lifted its position in shares of Legend Biotech by 44.7% during the 4th quarter. Invesco Ltd. now owns 3,309,971 shares of the company’s stock valued at $107,706,000 after acquiring an additional 1,022,365 shares during the period. Braidwell LP boosted its stake in Legend Biotech by 93.2% during the fourth quarter. Braidwell LP now owns 2,977,951 shares of the company’s stock worth $96,903,000 after acquiring an additional 1,436,400 shares in the last quarter. Wellington Management Group LLP grew its holdings in Legend Biotech by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 2,120,775 shares of the company’s stock worth $69,010,000 after purchasing an additional 84,405 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new stake in Legend Biotech in the fourth quarter valued at $50,493,000. Institutional investors 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).