Legend Biotech Co. (NASDAQ:LEGN) Position Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 24.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,700 shares of the company’s stock after buying an additional 7,700 shares during the period. Handelsbanken Fonder AB’s holdings in Legend Biotech were worth $2,389,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in LEGN. BluePath Capital Management LLC bought a new stake in Legend Biotech during the third quarter worth approximately $32,000. PNC Financial Services Group Inc. boosted its holdings in Legend Biotech by 53.9% during the third quarter. PNC Financial Services Group Inc. now owns 1,348 shares of the company’s stock worth $91,000 after buying an additional 472 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Legend Biotech by 141.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,048 shares of the company’s stock worth $138,000 after purchasing an additional 1,199 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Legend Biotech in the 3rd quarter worth approximately $323,000. Finally, Daiwa Securities Group Inc. boosted its stake in Legend Biotech by 2,134.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,832 shares of the company’s stock worth $351,000 after purchasing an additional 5,571 shares during the period. 70.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on LEGN. Raymond James began coverage on shares of Legend Biotech in a research note on Wednesday, March 13th. They issued an “outperform” rating and a $86.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Legend Biotech in a research note on Tuesday. UBS Group raised their price objective on shares of Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Cantor Fitzgerald started coverage on shares of Legend Biotech in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $82.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $85.00 target price on shares of Legend Biotech in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Legend Biotech currently has an average rating of “Moderate Buy” and a consensus price target of $82.64.

Legend Biotech Trading Up 2.0 %

Shares of NASDAQ:LEGN opened at $45.30 on Friday. The firm has a market capitalization of $8.24 billion, a P/E ratio of -30.61 and a beta of 0.01. The firm has a fifty day moving average of $58.06 and a two-hundred day moving average of $60.14. The company has a quick ratio of 6.83, a current ratio of 6.92 and a debt-to-equity ratio of 0.22. Legend Biotech Co. has a 12-month low of $44.06 and a 12-month high of $77.32.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Monday, March 11th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.30. The business had revenue of $76.50 million for the quarter, compared to the consensus estimate of $95.63 million. Legend Biotech had a negative net margin of 181.75% and a negative return on equity of 37.19%. The business’s quarterly revenue was up 177.2% compared to the same quarter last year. On average, equities analysts expect that Legend Biotech Co. will post -1.43 EPS for the current fiscal 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).