Legend Biotech Co. (NASDAQ:LEGN – Get Rating) – Stock analysts at Jefferies Financial Group issued their Q1 2023 EPS estimates for shares of Legend Biotech in a research report issued on Tuesday, January 24th. Jefferies Financial Group analyst K. Shi expects that the company will post earnings of ($0.24) per share for the quarter. The consensus estimate for Legend Biotech's current full-year earnings is ($2.52) per share. Jefferies Financial Group also issued estimates for Legend Biotech's Q2 2023 earnings at ($0.33) EPS, Q3 2023 earnings at ($0.36) EPS, Q4 2023 earnings at ($0.32) EPS, FY2023 earnings at ($1.25) EPS, FY2024 earnings at ($0.45) EPS, FY2025 earnings at $1.07 EPS, FY2026 earnings at $2.35 EPS and FY2027 earnings at $4.10 EPS.
Get Legend Biotech alerts:Other analysts have also recently issued research reports about the stock. UBS Group initiated coverage on shares of Legend Biotech in a research report on Tuesday, December 6th. They set a "buy" rating and a $66.00 target price for the company. Barclays upped their price objective on shares of Legend Biotech from $53.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday. Cowen initiated coverage on shares of Legend Biotech in a research report on Tuesday, November 1st. They issued an "outperform" rating for the company. Piper Sandler upped their price objective on shares of Legend Biotech from $72.00 to $78.00 and gave the company an "overweight" rating in a research report on Tuesday, December 20th. Finally, Guggenheim initiated coverage on shares of Legend Biotech in a research report on Monday, October 31st. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.14.
Legend Biotech Stock Performance
Shares of Legend Biotech stock opened at $52.71 on Friday. The firm has a fifty day moving average of $51.28 and a two-hundred day moving average of $48.02. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of -45.24 and a beta of -0.13. Legend Biotech has a 52 week low of $30.75 and a 52 week high of $57.72.Hedge Funds Weigh In On Legend Biotech
Large investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Legend Biotech by 174.8% during the 2nd quarter. FMR LLC now owns 6,663,704 shares of the company's stock worth $366,505,000 after purchasing an additional 4,239,041 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Legend Biotech by 33.9% during the 3rd quarter. Mackenzie Financial Corp now owns 172,049 shares of the company's stock worth $7,020,000 after purchasing an additional 43,561 shares in the last quarter. Aviva PLC boosted its stake in shares of Legend Biotech by 16.8% during the 2nd quarter. Aviva PLC now owns 23,600 shares of the company's stock worth $1,298,000 after buying an additional 3,400 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Legend Biotech by 4.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 102,516 shares of the company's stock worth $5,638,000 after buying an additional 4,613 shares during the last quarter. Finally, Samlyn Capital LLC acquired a new position in shares of Legend Biotech during the 2nd quarter worth about $24,970,000. Institutional investors own 38.88% of the company's stock.
About Legend Biotech
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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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