Legend Biotech (NASDAQ:LEGN) Rating Reiterated by HC Wainwright

Legend Biotech (NASDAQ:LEGNGet Free Report)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report issued on Monday, Benzinga reports. They presently have a $87.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 55.11% from the stock’s current price.

Other research analysts also recently issued reports about the company. UBS Group lifted their price objective on Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Barclays increased their price objective on Legend Biotech from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Scotiabank initiated coverage on shares of Legend Biotech in a research note on Tuesday, December 19th. They issued a “sector perform” rating and a $65.00 target price for the company. Raymond James started coverage on shares of Legend Biotech in a research note on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of Legend Biotech in a research report on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.76.

Check Out Our Latest Research Report on Legend Biotech

Legend Biotech Trading Down 1.5 %

Shares of Legend Biotech stock opened at $56.09 on Monday. 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 stock has a market cap of $9.26 billion, a PE ratio of -37.90 and a beta of 0.01. Legend Biotech has a 12-month low of $44.52 and a 12-month high of $77.32. The company has a 50-day moving average of $60.66 and a two-hundred day moving average of $62.05.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LEGN. BluePath Capital Management LLC bought a new stake in Legend Biotech in the third quarter valued at about $32,000. Coppell Advisory Solutions LLC bought a new position in shares of Legend Biotech during the second quarter worth approximately $41,000. American International Group Inc. acquired a new stake in Legend Biotech during the second quarter worth approximately $33,000. Lazard Asset Management LLC bought a new position in shares of Legend Biotech in the fourth quarter worth $33,000. Finally, Quarry LP bought a new stake in shares of Legend Biotech during the 4th quarter worth $45,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

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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