FY2024 EPS Estimates for Legend Biotech Cut by William Blair

Legend Biotech Co. (NASDAQ:LEGN) – Investment analysts at William Blair decreased their FY2024 earnings estimates for Legend Biotech in a research note issued to investors 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.

Several other research firms also recently commented on LEGN. Scotiabank increased their price target 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. HC Wainwright reaffirmed a “buy” rating and issued a $73.00 target price on shares of Legend Biotech in a report on Wednesday. Redburn Atlantic started coverage on Legend Biotech in a research report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a research report on Tuesday, October 29th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $81.46.

Legend Biotech Stock Up 1.4 %

LEGN stock opened at $39.89 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.78. The business has a 50 day simple moving average of $46.49 and a 200-day simple moving average of $48.34. Legend Biotech has a twelve month low of $38.60 and a twelve month high of $70.13.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.22. The firm had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business’s revenue was up 66.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.17) EPS.

Institutional Trading of Legend Biotech

A number of institutional investors have recently added to or reduced their stakes in LEGN. Blue Trust Inc. boosted its stake in shares of Legend Biotech by 10,075.0% during the 2nd quarter. Blue Trust Inc. now owns 814 shares of the company’s stock worth $36,000 after acquiring an additional 806 shares in the last quarter. American International Group Inc. grew its holdings in Legend Biotech by 50.0% in the first quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after purchasing an additional 300 shares during the last quarter. AM Squared Ltd purchased a new position in shares of Legend Biotech in the second quarter valued at $71,000. Quantbot Technologies LP acquired a new position in shares of Legend Biotech during the 3rd quarter worth $148,000. Finally, California State Teachers Retirement System boosted its position in shares of Legend Biotech by 196.3% in the 1st quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock worth $188,000 after buying an additional 2,216 shares in the last quarter. Hedge funds and other 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).