The Manufacturers Life Insurance Company Raises Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

The Manufacturers Life Insurance Company raised its position in shares of Legend Biotech Co. (NASDAQ:LEGNFree Report) by 3.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 608,995 shares of the company’s stock after purchasing an additional 18,525 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Legend Biotech were worth $36,643,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LEGN. Swiss National Bank grew its stake in shares of Legend Biotech by 1.0% in the third quarter. Swiss National Bank now owns 139,594 shares of the company’s stock worth $9,377,000 after purchasing an additional 1,400 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Legend Biotech by 12.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,867,032 shares of the company’s stock valued at $125,409,000 after buying an additional 212,327 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of Legend Biotech during the third quarter valued at approximately $484,000. State of New Jersey Common Pension Fund D boosted its holdings in Legend Biotech by 35.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 17,047 shares of the company’s stock valued at $1,145,000 after acquiring an additional 4,494 shares in the last quarter. Finally, Andra AP fonden increased its position in Legend Biotech by 37.0% during the 3rd quarter. Andra AP fonden now owns 51,800 shares of the company’s stock valued at $3,479,000 after purchasing an additional 14,000 shares during the period. Institutional investors own 70.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LEGN shares. UBS Group lifted their target price on shares of Legend Biotech from $76.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Cantor Fitzgerald assumed coverage on Legend Biotech in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $82.00 price objective on the stock. Royal Bank of Canada increased their target price on Legend Biotech from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Raymond James started coverage on Legend Biotech in a research report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a report on Tuesday. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Legend Biotech presently has a consensus rating of “Buy” and a consensus price target of $81.10.

Read Our Latest Stock Report on Legend Biotech

Legend Biotech Stock Up 6.7 %

Shares of LEGN stock opened at $46.56 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 5.66 and a quick ratio of 5.57. Legend Biotech Co. has a one year low of $38.60 and a one year high of $77.32. The company’s 50-day moving average is $47.01 and its 200 day moving average is $55.71.

Legend Biotech (NASDAQ:LEGNGet Free Report) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.13. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. The company had revenue of $93.90 million during the quarter, compared to analyst estimates of $143.24 million. During the same period in the previous year, the business earned ($0.40) EPS. The firm’s revenue for the quarter was up 158.7% on a year-over-year basis. Sell-side analysts forecast that Legend Biotech Co. will post -1.93 earnings per share for the current fiscal year.

Legend Biotech Profile

(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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Institutional Ownership by Quarter for Legend Biotech (NASDAQ:LEGN)

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