Mackenzie Financial Corp Has $9.19 Million Stock Position in Legend Biotech Co. (NASDAQ:LEGN)

Mackenzie Financial Corp grew its position in Legend Biotech Co. (NASDAQ:LEGN) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,767 shares of the company’s stock after buying an additional 23,802 shares during the quarter. Mackenzie Financial Corp owned approximately 0.08% of Legend Biotech worth $9,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vontobel Holding Ltd. acquired a new position in shares of Legend Biotech in the fourth quarter worth about $789,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Legend Biotech by 15.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 163,130 shares of the company’s stock worth $9,816,000 after purchasing an additional 22,376 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Legend Biotech during the fourth quarter worth approximately $3,640,000. Asset Management One Co. Ltd. boosted its holdings in shares of Legend Biotech by 6.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 9,055 shares of the company’s stock worth $542,000 after purchasing an additional 526 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Legend Biotech by 350.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,222 shares of the company’s stock worth $555,000 after purchasing an additional 7,174 shares during the period. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays raised their price target on shares of Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Raymond James initiated coverage on shares of Legend Biotech in a research report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Legend Biotech in a research report on Thursday, March 7th. Scotiabank raised shares of Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 price objective on the stock in a research report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Legend Biotech in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Legend Biotech presently has an average rating of “Moderate Buy” and a consensus target price of $83.26.

Legend Biotech Stock Performance

NASDAQ:LEGN opened at $46.19 on Friday. Legend Biotech Co. has a 12 month low of $45.68 and a 12 month high of $77.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.92 and a quick ratio of 6.83. The company’s 50 day moving average is $59.31 and its 200-day moving average is $60.83.

Legend Biotech (NASDAQ:LEGN) last released its quarterly 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. Legend Biotech had a negative net margin of 181.75% and a negative return on equity of 37.19%. The company had revenue of $76.50 million for the quarter, compared to analyst estimates of $95.63 million. The business’s quarterly revenue was up 177.2% on a year-over-year basis. On average, equities research analysts predict that Legend Biotech Co. will post -1.43 earnings per share for the current year.

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).