Legend Biotech Co. (NASDAQ:LEGN) to Post FY2024 Earnings of ($0.85) Per Share, Cantor Fitzgerald Forecasts

Legend Biotech Co. (NASDAQ:LEGN) – Cantor Fitzgerald issued their FY2024 earnings per share estimates for Legend Biotech in a note issued to investors on Tuesday, September 17th. Cantor Fitzgerald analyst R. Bienkowski anticipates that the company will post earnings per share of ($0.85) for the year. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.56) per share.

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

Several other analysts also recently commented on LEGN. BMO Capital Markets reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Legend Biotech in a research note on Wednesday, July 3rd. Piper Sandler reiterated an “overweight” rating and set a $90.00 price objective on shares of Legend Biotech in a report on Monday, June 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a research report on Monday, August 12th. TD Cowen dropped their target price on shares of Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a report on Wednesday, August 28th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Legend Biotech presently has an average rating of “Buy” and an average price target of $81.78.

Legend Biotech Trading Up 1.8 %

Shares of NASDAQ LEGN opened at $50.83 on Friday. Legend Biotech has a twelve month low of $38.60 and a twelve month high of $70.78. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of -39.10 and a beta of 0.11. The company has a quick ratio of 4.78, a current ratio of 4.84 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average is $55.31 and its 200-day moving average is $51.43.

Hedge Funds Weigh In On Legend Biotech

A number of large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its position in Legend Biotech by 10,075.0% during the second quarter. Blue Trust Inc. now owns 814 shares of the company’s stock valued at $36,000 after purchasing an additional 806 shares during the last quarter. Quarry LP bought a new stake in shares of Legend Biotech during the 4th quarter worth approximately $45,000. American International Group Inc. increased its holdings in 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 buying an additional 300 shares during the last quarter. AM Squared Ltd acquired a new stake in Legend Biotech in the second quarter valued at $71,000. Finally, Barometer Capital Management Inc. bought a new position in shares of Legend Biotech in the 4th quarter valued at about $120,000. 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).