HC Wainwright Predicts Stronger Earnings for Legend Biotech

Legend Biotech Co. (NASDAQ:LEGN) – Stock analysts at HC Wainwright lifted their Q1 2025 earnings per share (EPS) estimates for Legend Biotech in a report issued on Wednesday, March 12th. HC Wainwright analyst M. Kapoor now forecasts that the company will post earnings of ($0.18) per share for the quarter, up from their prior estimate of ($0.30). HC Wainwright currently has a “Buy” rating and a $75.00 target price 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 for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.46. The company had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business’s revenue for the quarter was up 134.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) earnings per share.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler reaffirmed an “overweight” rating and set a $78.00 price target on shares of Legend Biotech in a report on Monday, December 30th. Morgan Stanley lowered their price objective on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and set 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 set a $83.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Finally, Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a research note on Wednesday, March 12th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Legend Biotech currently has an average rating of “Moderate Buy” and a consensus price target of $79.00.

Legend Biotech Stock Performance

LEGN opened at $37.88 on Monday. The business’s 50 day moving average is $35.83 and its 200-day moving average is $40.47. The stock has a market cap of $6.92 billion, a PE ratio of -39.87 and a beta of 0.19. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. Legend Biotech has a twelve month low of $30.17 and a twelve month high of $64.28.

Hedge Funds Weigh In On Legend Biotech

A number of hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its holdings in Legend Biotech by 3.0% in the third quarter. Avior Wealth Management LLC now owns 11,097 shares of the company’s stock worth $541,000 after buying an additional 323 shares during the last quarter. Bridgewater Associates LP increased its holdings in Legend Biotech by 0.3% in the third quarter. Bridgewater Associates LP now owns 165,975 shares of the company’s stock worth $8,088,000 after buying an additional 516 shares during the last quarter. Shell Asset Management Co. increased its holdings in Legend Biotech by 62.0% in the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company’s stock worth $68,000 after buying an additional 800 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Legend Biotech by 12.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company’s stock worth $238,000 after buying an additional 835 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Legend Biotech by 14.0% in the third quarter. Advisors Asset Management Inc. now owns 6,812 shares of the company’s stock worth $332,000 after buying an additional 837 shares during the last quarter. 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).