HC Wainwright Boosts Earnings Estimates for Legend Biotech

Legend Biotech Co. (NASDAQ:LEGN) – Equities research analysts at HC Wainwright boosted their Q1 2025 earnings per share estimates for Legend Biotech in a research report issued to clients and investors on Wednesday, March 12th. HC Wainwright analyst M. Kapoor now expects that the company will post earnings of ($0.18) per share for the quarter, up from their prior forecast of ($0.30). HC Wainwright currently 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.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $186.50 million during the quarter, compared to analysts’ expectations of $179.00 million. During the same period in the previous year, the business posted ($0.40) earnings per share. The firm’s revenue for the quarter was up 134.6% compared to the same quarter last year.

Several other analysts have also recently weighed in on LEGN. Guggenheim reissued a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Piper Sandler reissued an “overweight” rating and set a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $83.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Legend Biotech currently has an average rating of “Moderate Buy” and an average price target of $79.09.

Legend Biotech Stock Performance

Legend Biotech stock opened at $37.20 on Monday. The stock has a 50-day simple moving average of $35.68 and a 200 day simple moving average of $40.74. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. Legend Biotech has a 12-month low of $30.17 and a 12-month high of $65.45. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of -39.16 and a beta of 0.19.

Hedge Funds Weigh In On Legend Biotech

Several institutional investors and hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC grew its position in shares of Legend Biotech by 3.0% in the 3rd quarter. Avior Wealth Management LLC now owns 11,097 shares of the company’s stock valued at $541,000 after purchasing an additional 323 shares during the period. Bridgewater Associates LP grew its position in shares of Legend Biotech by 0.3% in the 3rd quarter. Bridgewater Associates LP now owns 165,975 shares of the company’s stock valued at $8,088,000 after purchasing an additional 516 shares during the period. Shell Asset Management Co. grew its position in shares of Legend Biotech by 62.0% in the 4th quarter. Shell Asset Management Co. now owns 2,090 shares of the company’s stock valued at $68,000 after purchasing an additional 800 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Legend Biotech by 12.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company’s stock valued at $238,000 after purchasing an additional 835 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of Legend Biotech by 14.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,812 shares of the company’s stock valued at $332,000 after purchasing an additional 837 shares during the period. 70.89% of the stock is currently owned by institutional investors and hedge funds.

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).