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

HC Wainwright reaffirmed their buy rating on shares of Legend Biotech (NASDAQ:LEGN) in a report released on Wednesday,Benzinga reports. They currently have a $73.00 price target 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.

LEGN has been the subject of several other research reports. Redburn Atlantic assumed coverage on Legend Biotech in a report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price target for the company. Scotiabank lifted their price target on shares of Legend Biotech from $70.00 to $76.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a research note on Tuesday, October 29th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $81.46.

Legend Biotech Stock Performance

LEGN traded down $0.16 during trading hours on Wednesday, hitting $39.19. 149,993 shares of the stock were exchanged, compared to its average volume of 1,088,088. 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 stock has a 50-day simple moving average of $46.49 and a 200-day simple moving average of $48.34. Legend Biotech has a 12 month low of $38.60 and a 12 month high of $70.13. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of -41.42 and a beta of 0.11.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.22. The company had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $143.91 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.22%. The business’s revenue for the quarter was up 66.9% on a year-over-year basis. During the same period last year, the company posted ($0.17) earnings per share. Analysts anticipate that Legend Biotech will post -1.48 earnings per share for the current year.

Hedge Funds Weigh In On Legend Biotech

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Legend Biotech by 4.0% during the 3rd quarter. FMR LLC now owns 18,330,219 shares of the company’s stock valued at $893,232,000 after buying an additional 708,620 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Legend Biotech by 1.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,949,120 shares of the company’s stock worth $614,137,000 after purchasing an additional 140,904 shares during the period. RA Capital Management L.P. raised its holdings in shares of Legend Biotech by 9.5% in the first quarter. RA Capital Management L.P. now owns 6,861,097 shares of the company’s stock worth $384,839,000 after buying an additional 596,390 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Legend Biotech by 5.6% during the third quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock worth $245,526,000 after purchasing an additional 266,296 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Legend Biotech by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company’s stock valued at $110,868,000 after buying an additional 314,449 shares during the period. Institutional investors 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).