Legend Biotech Co. (NASDAQ:LEGN – Free Report) – Equities research analysts at HC Wainwright upped their Q3 2024 earnings estimates for shares of Legend Biotech in a research note issued to investors on Tuesday, April 16th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn ($0.18) per share for the quarter, up from their previous forecast of ($0.19). HC Wainwright has a “Buy” rating and a $87.00 price objective on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($1.42) per share.
Legend Biotech (NASDAQ:LEGN – Get Free Report) last posted its earnings results on Monday, March 11th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.30. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The business had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $95.63 million. The firm’s revenue was up 177.2% on a year-over-year basis.
Legend Biotech Stock Down 2.6 %
Shares of NASDAQ LEGN opened at $48.83 on Thursday. The firm’s 50 day simple moving average is $59.84 and its two-hundred day simple moving average is $61.06. Legend Biotech has a one year low of $48.03 and a one year high of $77.32. The company has a current ratio of 6.92, a quick ratio of 6.83 and a debt-to-equity ratio of 0.22.
Institutional Investors Weigh In On Legend Biotech
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BluePath Capital Management LLC bought a new position in shares of Legend Biotech during the 3rd quarter valued at about $32,000. Coppell Advisory Solutions LLC bought a new position in Legend Biotech during the second quarter valued at approximately $41,000. American International Group Inc. purchased a new position in Legend Biotech during the 2nd quarter valued at approximately $33,000. Lazard Asset Management LLC bought a new stake in Legend Biotech in the 4th quarter worth approximately $33,000. Finally, Quarry LP purchased a new stake in shares of Legend Biotech during the 4th quarter worth approximately $45,000. 70.89% of the stock is currently owned by hedge funds and other institutional investors.
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).
Further Reading
- Five stocks we like better than Legend Biotech
- Breakout Stocks: What They Are and How to Identify Them
- United Airlines Soars on Earnings Beat
- What is a Secondary Public Offering? What Investors Need to Know
- J.B. Hunt Hits the Skids: Lower Prices to Come
- Earnings Per Share Calculator: How to Calculate EPS
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
Receive News & Ratings for Legend Biotech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Legend Biotech and related companies with MarketBeat.com's FREE daily email newsletter.