Q1 2023 EPS Estimates for Legend Biotech Co. (NASDAQ:LEGN) Lifted by Analyst

Posted by on Apr 24th, 2023

Legend Biotech Co. (NASDAQ:LEGN – Get Rating) – Equities research analysts at HC Wainwright upped their Q1 2023 earnings per share (EPS) estimates for shares of Legend Biotech in a report issued on Thursday, April 20th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn ($0.42) per share for the quarter, up from their prior forecast of ($0.43). HC Wainwright has a “Buy” rating and a $77.00 price objective on the stock. The consensus estimate for Legend Biotech’s current full-year earnings is ($2.19) per share. HC Wainwright also issued estimates for Legend Biotech’s Q4 2023 earnings at ($0.27) EPS, Q1 2024 earnings at ($0.37) EPS, Q2 2024 earnings at ($0.19) EPS, Q3 2024 earnings at ($0.30) EPS, Q4 2024 earnings at ($0.07) EPS and FY2024 earnings at ($0.93) EPS.

Several other equities research analysts also recently commented on LEGN. Royal Bank of Canada initiated coverage on Legend Biotech in a report on Friday, March 24th. They set an “outperform” rating and a $73.00 target price for the company. JPMorgan Chase & Co. increased their price objective on Legend Biotech from $65.00 to $76.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. Morgan Stanley raised their target price on Legend Biotech from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, January 24th. BTIG Research raised their target price on Legend Biotech from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays lifted their price objective on Legend Biotech from $53.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, January 25th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Legend Biotech presently has a consensus rating of “Moderate Buy” and an average price target of $73.56.

Legend Biotech Trading Up 9.3 %

NASDAQ:LEGN opened at $69.70 on Monday. Legend Biotech has a 1 year low of $32.87 and a 1 year high of $70.00. The stock has a market cap of $11.51 billion, a price-to-earnings ratio of -47.09 and a beta of -0.08. The business has a fifty day moving average of $48.82 and a 200-day moving average of $49.45. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.66 and a current ratio of 3.69.

Legend Biotech (NASDAQ:LEGN – Get Rating) last posted its quarterly earnings results on Friday, February 17th. The company reported ($0.41) earnings per share (EPS) for the quarter. The company had revenue of $11.97 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp boosted its position in Legend Biotech by 2.8% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,552 shares of the company’s stock valued at $431,000 after buying an additional 284 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Legend Biotech by 1.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 17,853 shares of the company’s stock valued at $728,000 after purchasing an additional 328 shares in the last quarter. Capital Investment Advisory Services LLC lifted its stake in shares of Legend Biotech by 4.8% in the fourth quarter. Capital Investment Advisory Services LLC now owns 10,950 shares of the company’s stock worth $547,000 after buying an additional 500 shares in the last quarter. Advisory Research Inc. increased its position in Legend Biotech by 9.1% during the fourth quarter. Advisory Research Inc. now owns 5,971 shares of the company’s stock worth $298,000 after purchasing an additional 500 shares during the last quarter. Finally, EFG Asset Management Americas Corp. raised its stake in shares of Legend Biotech by 8.8% in the 4th quarter. EFG Asset Management Americas Corp. now owns 7,138 shares of the company’s stock valued at $356,000 after acquiring an additional 575 shares during the period. Hedge funds and other institutional investors own 38.88% of the company’s stock.

Legend Biotech Company Profile

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Legend Biotech Corporation, a clinical-stage biopharmaceutical company, through its subsidiaries, engages in the discovery and development 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), as well as a comparison of the treatment with standard triplet therapy in revlimid-refractory multiple myeloma.

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Earnings History and Estimates for Legend Biotech (NASDAQ:LEGN)

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