Brokers Set Expectations for Legend Biotech FY2025 Earnings

Legend Biotech Co. (NASDAQ:LEGN) – Stock analysts at HC Wainwright boosted their FY2025 EPS estimates for shares of Legend Biotech in a report released on Wednesday, October 16th. HC Wainwright analyst M. Kapoor now anticipates that the company will post earnings of $0.12 per share for the year, up from their previous estimate of $0.10. HC Wainwright currently has a “Buy” rating and a $73.00 target price on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.51) per share.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.49. The business had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $125.25 million. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. Legend Biotech’s quarterly revenue was up 154.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.27) EPS.

LEGN has been the subject of a number of other research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a research report on Friday, September 27th. Scotiabank lifted their target price on shares of Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research note on Monday, August 12th. BMO Capital Markets reissued an “outperform” rating and issued a $90.00 target price on shares of Legend Biotech in a report on Wednesday, July 3rd. TD Cowen dropped their price target on Legend Biotech from $71.00 to $67.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Redburn Atlantic began coverage on Legend Biotech in a research note on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price objective on the stock. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $82.08.

Legend Biotech Stock Performance

Legend Biotech stock opened at $43.09 on Friday. Legend Biotech has a 52-week low of $38.60 and a 52-week high of $70.13. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.84 and a quick ratio of 4.78. The stock has a fifty day moving average price of $51.70 and a two-hundred day moving average price of $49.46. The firm has a market capitalization of $7.85 billion, a P/E ratio of -33.15 and a beta of 0.10.

Institutional Investors Weigh In On Legend Biotech

Several institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in 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 during the last quarter. American International Group Inc. grew its stake in shares of Legend Biotech by 50.0% during the first quarter. American International Group Inc. now owns 900 shares of the company’s stock worth $50,000 after purchasing an additional 300 shares during the period. AM Squared Ltd bought a new stake in Legend Biotech in the second quarter valued at about $71,000. California State Teachers Retirement System lifted its stake in Legend Biotech by 196.3% in the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock valued at $188,000 after buying an additional 2,216 shares during the period. Finally, BNP Paribas acquired a new position in Legend Biotech in the first quarter valued at about $199,000. Institutional investors and hedge funds 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).