Legend Biotech Co. (NASDAQ:LEGN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Legend Biotech Co. (NASDAQ:LEGNGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $82.92.

Several research analysts have commented on the company. Scotiabank assumed coverage on Legend Biotech in a report on Tuesday, December 19th. They set a “sector perform” rating and a $65.00 price objective on the stock. Raymond James assumed coverage on Legend Biotech in a report on Wednesday. They set an “outperform” rating and a $86.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective on shares of Legend Biotech in a report on Thursday, March 7th. Barclays increased their target price on Legend Biotech from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $87.00 target price on shares of Legend Biotech in a research report on Friday, December 22nd.

Read Our Latest Stock Report on LEGN

Institutional Trading of Legend Biotech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEGN. RA Capital Management L.P. lifted its position in Legend Biotech by 157.1% during the 2nd quarter. RA Capital Management L.P. now owns 6,264,707 shares of the company’s stock worth $432,453,000 after acquiring an additional 3,828,484 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Legend Biotech by 11.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,808,216 shares of the company’s stock valued at $650,332,000 after buying an additional 1,114,848 shares during the last quarter. Capital World Investors raised its stake in shares of Legend Biotech by 85.5% during the 1st quarter. Capital World Investors now owns 2,214,024 shares of the company’s stock valued at $80,458,000 after buying an additional 1,020,545 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Legend Biotech by 71.6% during the 4th quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company’s stock valued at $138,776,000 after buying an additional 962,381 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in shares of Legend Biotech during the 2nd quarter valued at about $62,614,000. Institutional investors and hedge funds own 49.61% of the company’s stock.

Legend Biotech Stock Performance

LEGN opened at $66.11 on Friday. The stock’s 50 day moving average price is $60.61 and its 200-day moving average price is $62.88. Legend Biotech has a one year low of $43.35 and a one year high of $77.32. The company has a quick ratio of 8.51, a current ratio of 8.61 and a debt-to-equity ratio of 0.21.

Legend Biotech (NASDAQ:LEGNGet Free Report) last released its earnings results on Monday, March 11th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.30. The firm had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $95.63 million. Legend Biotech had a negative return on equity of 38.16% and a negative net margin of 181.75%. The business’s quarterly revenue was up 177.2% on a year-over-year basis. On average, sell-side analysts forecast that Legend Biotech will post -1.74 earnings per share for the current year.

About Legend Biotech

(Get Free Report

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).

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Analyst Recommendations for Legend Biotech (NASDAQ:LEGN)

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