HC Wainwright Reiterates “Buy” Rating for Legend Biotech (NASDAQ:LEGN)

Legend Biotech (NASDAQ:LEGN)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $75.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 128.66% from the company’s current price. HC Wainwright also issued estimates for Legend Biotech’s Q4 2025 earnings at $0.10 EPS.

Several other equities analysts have also recently commented on LEGN. Guggenheim reaffirmed a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 target price on shares of Legend Biotech in a research report on Monday, December 30th. Finally, Morgan Stanley lowered their price target on shares of Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Legend Biotech Stock Down 2.0 %

LEGN opened at $32.80 on Wednesday. Legend Biotech has a 1-year low of $29.27 and a 1-year high of $60.87. The business has a 50 day moving average of $35.07 and a 200-day moving average of $37.89. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of -34.53 and a beta of 0.21. 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 (NASDAQ:LEGN) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.46. The company had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The business’s quarterly revenue was up 134.6% on a year-over-year basis. During the same period last year, the business posted ($0.40) EPS. As a group, sell-side analysts anticipate that Legend Biotech will post -1.31 earnings per share for the current year.

Hedge Funds Weigh In On Legend Biotech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEGN. Suvretta Capital Management LLC acquired a new stake in shares of Legend Biotech during the fourth quarter worth approximately $113,767,000. Deerfield Management Company L.P. Series C acquired a new stake in Legend Biotech during the 4th quarter valued at $50,493,000. Braidwell LP raised its position in Legend Biotech by 93.2% in the 4th quarter. Braidwell LP now owns 2,977,951 shares of the company’s stock valued at $96,903,000 after purchasing an additional 1,436,400 shares during the last quarter. Invesco Ltd. boosted its stake in Legend Biotech by 44.7% in the fourth quarter. Invesco Ltd. now owns 3,309,971 shares of the company’s stock worth $107,706,000 after purchasing an additional 1,022,365 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Legend Biotech by 155.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,505,562 shares of the company’s stock worth $48,991,000 after purchasing an additional 915,891 shares during the last quarter. 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).