Mirae Asset Global Investments Co. Ltd. lifted its position in Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 6,732.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,004,334 shares of the company's stock after purchasing an additional 989,635 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.55% of Legend Biotech worth $34,077,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Rhumbline Advisers grew its position in Legend Biotech by 1.4% in the first quarter. Rhumbline Advisers now owns 28,029 shares of the company's stock worth $951,000 after acquiring an additional 391 shares in the last quarter. GAMMA Investing LLC grew its position in Legend Biotech by 145.4% in the first quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock worth $44,000 after acquiring an additional 765 shares in the last quarter. Shell Asset Management Co. grew its position in Legend Biotech by 62.0% in the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock worth $68,000 after acquiring an additional 800 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Legend Biotech by 12.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,324 shares of the company's stock worth $238,000 after acquiring an additional 835 shares in the last quarter. Finally, Diversified Trust Co grew its position in Legend Biotech by 1.9% in the first quarter. Diversified Trust Co now owns 46,151 shares of the company's stock worth $1,566,000 after acquiring an additional 863 shares in the last quarter. Institutional investors own 70.89% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $55.00 target price on shares of Legend Biotech in a research report on Wednesday, May 14th. Guggenheim reiterated a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $84.00 target price on shares of Legend Biotech in a research report on Tuesday, April 22nd. HC Wainwright reiterated a "buy" rating and issued a $75.00 target price on shares of Legend Biotech in a research report on Wednesday, April 16th. Finally, Truist Financial cut their target price on shares of Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Legend Biotech presently has a consensus rating of "Moderate Buy" and an average target price of $76.20.
Read Our Latest Stock Report on Legend Biotech
Legend Biotech Trading Up 3.4%
NASDAQ LEGN traded up $1.15 during trading on Friday, hitting $34.63. 1,811,932 shares of the company's stock traded hands, compared to its average volume of 1,364,029. The stock has a fifty day moving average of $32.38 and a two-hundred day moving average of $33.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.20 and a quick ratio of 5.07. Legend Biotech Corporation Sponsored ADR has a 12-month low of $27.34 and a 12-month high of $60.87. The firm has a market cap of $6.36 billion, a P/E ratio of -58.69 and a beta of 0.13.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.33. Legend Biotech had a negative net margin of 29.95% and a negative return on equity of 21.19%. The business had revenue of $195.05 million during the quarter, compared to analyst estimates of $190.83 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The company's revenue was up 107.8% on a year-over-year basis. As a group, sell-side analysts expect that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current year.
Legend Biotech Company 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).
Read More
Before you consider Legend Biotech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Legend Biotech wasn't on the list.
While Legend Biotech currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
