Legend Biotech (NASDAQ:LEGN) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Legend Biotech (NASDAQ:LEGN) in a research note published on Wednesday,Benzinga reports. HC Wainwright currently has a $73.00 price objective on the stock. HC Wainwright also issued estimates for Legend Biotech’s Q2 2025 earnings at $0.24 EPS and Q4 2025 earnings at $0.12 EPS.

A number of other brokerages also recently weighed in on LEGN. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a research report on Tuesday, October 29th. Redburn Atlantic initiated coverage on Legend Biotech in a research report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price for the company. Finally, Scotiabank raised their price target 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. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $81.46.

Legend Biotech Price Performance

NASDAQ LEGN traded down $0.16 during trading hours on Wednesday, reaching $39.19. 149,993 shares of the company’s stock were exchanged, compared to its average volume of 1,088,088. Legend Biotech has a one year low of $38.60 and a one year high of $70.13. The stock has a market cap of $7.14 billion, a PE ratio of -41.42 and a beta of 0.11. The company has a current ratio of 4.84, a quick ratio of 4.78 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $46.49 and a 200-day moving average of $48.34.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.22. Legend Biotech had a negative return on equity of 29.22% and a negative net margin of 66.92%. The business had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $143.91 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was up 66.9% compared to the same quarter last year. On average, equities research analysts predict that Legend Biotech will post -1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Legend Biotech

A number of large investors have recently bought and sold shares of the business. Swiss National Bank lifted its holdings in Legend Biotech by 3.9% in the first quarter. Swiss National Bank now owns 159,994 shares of the company’s stock valued at $8,974,000 after acquiring an additional 6,000 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Legend Biotech by 82.7% during the first quarter. Russell Investments Group Ltd. now owns 183,741 shares of the company’s stock worth $10,306,000 after buying an additional 83,150 shares during the last quarter. US Bancorp DE lifted its position in Legend Biotech by 4.5% during the 1st quarter. US Bancorp DE now owns 6,835 shares of the company’s stock worth $383,000 after acquiring an additional 293 shares during the period. ProShare Advisors LLC increased its stake in Legend Biotech by 9.7% in the 1st quarter. ProShare Advisors LLC now owns 5,585 shares of the company’s stock valued at $313,000 after buying an additional 494 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Legend Biotech during the 1st quarter worth $203,000. Institutional investors and hedge funds 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).