Legend Biotech (LEGN) – Investment Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Legend Biotech (NASDAQ: LEGN) in the last few weeks:

  • 3/18/2024 – Legend Biotech had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $87.00 price target on the stock.
  • 3/18/2024 – Legend Biotech had its price target raised by analysts at UBS Group AG from $76.00 to $81.00. They now have a “buy” rating on the stock.
  • 3/13/2024 – Legend Biotech is now covered by analysts at Raymond James. They set an “outperform” rating and a $86.00 price target on the stock.
  • 3/7/2024 – Legend Biotech had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $85.00 price target on the stock.
  • 1/24/2024 – Legend Biotech had its price target raised by analysts at Barclays PLC from $93.00 to $94.00. They now have an “overweight” rating on the stock.

Legend Biotech Stock Performance

Shares of LEGN stock opened at $58.24 on Friday. The company has a current ratio of 6.92, a quick ratio of 6.83 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average price of $60.99 and a 200 day moving average price of $62.63. The company has a market cap of $9.61 billion, a P/E ratio of -39.35 and a beta of 0.04. Legend Biotech Co. has a 12 month low of $43.35 and a 12 month high of $77.32.

Legend Biotech (NASDAQ:LEGNGet Free Report) last issued its earnings results on Monday, March 11th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.30. Legend Biotech had a negative net margin of 181.75% and a negative return on equity of 37.19%. The firm had revenue of $76.50 million during the quarter, compared to the consensus estimate of $95.63 million. The company’s revenue was up 177.2% on a year-over-year basis. Sell-side analysts predict that Legend Biotech Co. will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Legend Biotech

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BluePath Capital Management LLC acquired a new position in Legend Biotech during the third quarter worth about $32,000. American International Group Inc. purchased a new position in shares of Legend Biotech in the 2nd quarter valued at $33,000. Lazard Asset Management LLC purchased a new position in shares of Legend Biotech in the 4th quarter valued at $33,000. Coppell Advisory Solutions LLC purchased a new position in shares of Legend Biotech in the 2nd quarter valued at $41,000. Finally, Quarry LP acquired a new stake in Legend Biotech during the 4th quarter valued at $45,000. 49.61% of the stock is owned by hedge funds and other institutional investors.

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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