Analysts Set Expectations for Legend Biotech FY2025 Earnings

Legend Biotech Co. (NASDAQ:LEGN) – Analysts at Cantor Fitzgerald issued their FY2025 earnings estimates for shares of Legend Biotech in a research note issued on Tuesday, January 21st. Cantor Fitzgerald analyst R. Bienkowski forecasts that the company will post earnings per share of ($0.72) for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $83.00 target price on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.24) per share.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.22. The business had revenue of $160.20 million for 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 company’s revenue was up 66.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) EPS.

A number of other brokerages have also recently commented on LEGN. HC Wainwright reissued a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research note on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $78.00 price target on shares of Legend Biotech in a research report on Monday, December 30th. Redburn Atlantic initiated coverage on Legend Biotech in a research report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $86.00 target price on shares of Legend Biotech in a report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $80.62.

Legend Biotech Stock Performance

Legend Biotech stock opened at $34.67 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. Legend Biotech has a fifty-two week low of $30.17 and a fifty-two week high of $70.13. The stock’s fifty day moving average is $36.59 and its two-hundred day moving average is $45.91.

Hedge Funds Weigh In On Legend Biotech

A number of large investors have recently bought and sold shares of LEGN. FMR LLC raised its holdings in shares of Legend Biotech by 4.0% in the 3rd quarter. FMR LLC now owns 18,330,219 shares of the company’s stock worth $893,232,000 after purchasing an additional 708,620 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Legend Biotech by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company’s stock worth $110,868,000 after buying an additional 314,449 shares during the period. Point72 Asset Management L.P. acquired a new position in Legend Biotech during the 2nd quarter worth approximately $13,487,000. Westfield Capital Management Co. LP boosted its holdings in Legend Biotech by 5.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock worth $245,526,000 after acquiring an additional 266,296 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in Legend Biotech in the third quarter valued at approximately $12,837,000. Hedge funds and other institutional investors 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).