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

HC Wainwright reiterated their buy rating on shares of Legend Biotech (NASDAQ:LEGN) in a research report released on Monday morning, Benzinga reports. The firm currently has a $73.00 target price on the stock. HC Wainwright also issued estimates for Legend Biotech’s Q2 2025 earnings at $0.28 EPS.

Several other research firms have also issued reports on LEGN. TD Cowen dropped their price objective on Legend Biotech from $71.00 to $67.00 and set a buy rating for the company in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft started coverage on shares of Legend Biotech in a research report on Thursday, May 23rd. They set a buy rating and a $60.00 price target on the stock. BMO Capital Markets reaffirmed an outperform rating and set a $90.00 price objective on shares of Legend Biotech in a research note on Wednesday, July 3rd. Piper Sandler restated an overweight rating and set a $90.00 price target on shares of Legend Biotech in a research report on Monday, June 17th. Finally, Scotiabank boosted their price objective on Legend Biotech from $65.00 to $70.00 and gave the company a sector outperform rating in a research report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Legend Biotech has a consensus rating of Buy and a consensus target price of $81.78.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $54.68 on Monday. Legend Biotech has a 52 week low of $38.60 and a 52 week high of $72.38. The firm’s 50-day simple moving average is $50.26 and its two-hundred day simple moving average is $52.47. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of -42.06 and a beta of 0.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 5.57 and a current ratio of 5.66.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Friday, August 9th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.49. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. The firm had revenue of $186.50 million during the quarter, compared to analyst estimates of $125.25 million. During the same quarter last year, the business earned ($0.27) earnings per share. The company’s quarterly revenue was up 154.4% on a year-over-year basis. As a group, equities analysts forecast that Legend Biotech will post -1.94 earnings per share for the current year.

Institutional Investors Weigh In On Legend Biotech

Several hedge funds have recently added to or reduced their stakes in LEGN. Daiwa Securities Group Inc. raised its stake in shares of Legend Biotech by 9.0% in the first quarter. Daiwa Securities Group Inc. now owns 6,359 shares of the company’s stock worth $356,000 after purchasing an additional 527 shares during the last quarter. Trexquant Investment LP bought a new position in Legend Biotech during the fourth quarter valued at approximately $1,561,000. Massachusetts Financial Services Co. MA boosted its holdings in Legend Biotech by 6.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,984,826 shares of the company’s stock worth $119,427,000 after purchasing an additional 117,794 shares during the last quarter. TimesSquare Capital Management LLC grew its position in Legend Biotech by 15.4% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,065,889 shares of the company’s stock worth $64,135,000 after purchasing an additional 142,118 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Legend Biotech by 21.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 52,584 shares of the company’s stock valued at $2,949,000 after buying an additional 9,122 shares during the period. 70.89% of the stock is owned by institutional investors.

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).