Legend Biotech’s (LEGN) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Legend Biotech (NASDAQ:LEGN) in a research note released on Wednesday, Benzinga reports. They currently have a $73.00 target price on the stock. HC Wainwright also issued estimates for Legend Biotech’s FY2025 earnings at $0.12 EPS.

A number of other equities analysts have also weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $90.00 price target on shares of Legend Biotech in a research report on Wednesday, July 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 target price on shares of Legend Biotech in a report on Friday, September 27th. Redburn Atlantic started coverage on shares of Legend Biotech in a report on Tuesday, October 8th. They set a “buy” rating and a $86.00 price target on the stock. TD Cowen lowered their price objective on shares of Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Scotiabank boosted their target price on shares of Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a research note on Monday, August 12th. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Legend Biotech has a consensus rating of “Buy” and an average price target of $82.08.

Legend Biotech Stock Performance

Shares of LEGN opened at $42.87 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.84 and a quick ratio of 4.78. The firm’s 50 day moving average is $51.44 and its 200-day moving average is $49.31. Legend Biotech has a 12-month low of $38.60 and a 12-month high of $70.13. The stock has a market capitalization of $7.81 billion, a P/E ratio of -32.98 and a beta of 0.10.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.49. The company had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $125.25 million. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The firm’s revenue was up 154.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.27) earnings per share. Equities research analysts anticipate that Legend Biotech will post -1.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Legend Biotech

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Legend Biotech by 10,075.0% in the second quarter. Blue Trust Inc. now owns 814 shares of the company’s stock worth $36,000 after buying an additional 806 shares during the last quarter. American International Group Inc. raised its holdings in shares of Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after purchasing an additional 300 shares in the last quarter. AM Squared Ltd acquired a new stake in shares of Legend Biotech in the 2nd quarter valued at $71,000. California State Teachers Retirement System boosted its holdings in Legend Biotech by 196.3% in the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock worth $188,000 after purchasing an additional 2,216 shares in the last quarter. Finally, BNP Paribas acquired a new position in Legend Biotech during the first quarter worth $199,000. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Company Profile

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).