FY2024 EPS Estimates for Legend Biotech Cut by William Blair

Legend Biotech Co. (NASDAQ:LEGN) – Stock analysts at William Blair dropped their FY2024 earnings per share (EPS) estimates for Legend Biotech in a research report issued on Tuesday, November 12th. William Blair analyst S. Corwin now expects that the company will post earnings of ($1.41) per share for the year, down from their previous estimate 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.

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

Legend Biotech Stock Performance

Legend Biotech stock opened at $38.19 on Friday. The firm has a fifty day simple moving average of $46.01 and a two-hundred day simple moving average of $48.27. Legend Biotech has a twelve month low of $38.02 and a twelve month high of $70.13. The company has a market capitalization of $6.96 billion, a PE ratio of -40.20 and a beta of 0.11. The company has a quick ratio of 4.78, a current ratio of 4.98 and a debt-to-equity ratio of 0.27.

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

Hedge Funds Weigh In On Legend Biotech

A number of institutional investors have recently modified their holdings of LEGN. Blue Trust Inc. raised its holdings in shares of Legend Biotech by 10,075.0% in the second quarter. Blue Trust Inc. now owns 814 shares of the company’s stock valued at $36,000 after acquiring an additional 806 shares in the last quarter. American International Group Inc. increased its stake in Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after purchasing an additional 300 shares in the last quarter. AM Squared Ltd acquired a new stake in Legend Biotech during the 2nd quarter worth about $71,000. Quantbot Technologies LP purchased a new stake in Legend Biotech during the 3rd quarter valued at about $148,000. Finally, California State Teachers Retirement System lifted its holdings 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 during the period. 70.89% of the stock is owned by hedge funds and other institutional investors.

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).