HC Wainwright Boosts Earnings Estimates for Legend Biotech

Legend Biotech Co. (NASDAQ:LEGN) – Analysts at HC Wainwright lifted their Q1 2025 earnings per share estimates for Legend Biotech in a research note issued on Wednesday, March 12th. HC Wainwright analyst M. Kapoor now expects that the company will post earnings per share of ($0.18) for the quarter, up from their prior estimate of ($0.30). HC Wainwright has a “Buy” rating and a $75.00 price target on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.31) per share. HC Wainwright also issued estimates for Legend Biotech’s Q2 2025 earnings at $0.06 EPS, Q3 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.07) EPS.

Other equities analysts have also issued reports about the company. Guggenheim restated a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $78.00 price objective on shares of Legend Biotech in a research note on Monday, December 30th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.09.

Legend Biotech Price Performance

NASDAQ LEGN opened at $37.20 on Monday. Legend Biotech has a fifty-two week low of $30.17 and a fifty-two week high of $65.45. The stock’s 50-day moving average is $35.68 and its two-hundred day moving average is $40.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The firm has a market cap of $6.79 billion, a P/E ratio of -39.16 and a beta of 0.19.

Legend Biotech (NASDAQ:LEGN) last posted its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.46. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. During the same period last year, the company earned ($0.40) earnings per share. The business’s revenue was up 134.6% compared to the same quarter last year.

Hedge Funds Weigh In On Legend Biotech

A number of hedge funds have recently modified their holdings of LEGN. FMR LLC grew its position in Legend Biotech by 4.0% in the third quarter. FMR LLC now owns 18,330,219 shares of the company’s stock valued at $893,232,000 after acquiring an additional 708,620 shares during the period. Westfield Capital Management Co. LP lifted 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 during the period. Suvretta Capital Management LLC bought a new position in shares of Legend Biotech during the fourth quarter valued at $113,767,000. Invesco Ltd. lifted its holdings in shares of Legend Biotech by 44.7% during the fourth 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. Finally, Braidwell LP lifted its holdings in shares of Legend Biotech by 93.2% during the fourth quarter. Braidwell LP now owns 2,977,951 shares of the company’s stock valued at $96,903,000 after acquiring an additional 1,436,400 shares during the period. 70.89% of the stock is owned by institutional investors and hedge funds.

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).