Nomura Holdings Inc. Takes Position in Legend Biotech Corporation Sponsored ADR $LEGN

Key Points

• Nomura Holdings Inc. has acquired a new stake in Legend Biotech, purchasing 8,121 shares valued at approximately $276,000 during the 1st quarter.
• Multiple hedge funds, including GAMMA Investing LLC and Brooklyn Investment Group, significantly increased their positions in Legend Biotech, reflecting growing institutional interest.
• Analysts maintain a positive outlook for Legend Biotech, with ten analysts rating it a Buy and a current average price target of $74.22.

Nomura Holdings Inc. bought a new stake in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,121 shares of the company's stock, valued at approximately $276,000.

A number of other institutional investors have also recently modified their holdings of LEGN. Suvretta Capital Management LLC bought a new stake in shares of Legend Biotech during the 4th quarter valued at $113,767,000. Westfield Capital Management Co. LP raised its holdings in shares of Legend Biotech by 21.1% during the 1st quarter. Westfield Capital Management Co. LP now owns 6,917,567 shares of the company's stock worth $234,713,000 after buying an additional 1,203,871 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Legend Biotech by 6,732.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,004,334 shares of the company's stock worth $34,077,000 after buying an additional 989,635 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Legend Biotech by 961.9% during the 4th quarter. Two Sigma Investments LP now owns 642,452 shares of the company's stock worth $20,905,000 after buying an additional 581,952 shares in the last quarter. Finally, IvyRock Asset Management HK Ltd raised its holdings in shares of Legend Biotech by 216.0% during the 1st quarter. IvyRock Asset Management HK Ltd now owns 844,000 shares of the company's stock worth $28,637,000 after buying an additional 576,900 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LEGN shares. UBS Group set a $54.00 price target on Legend Biotech and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Cantor Fitzgerald reissued an "overweight" rating and set a $66.00 price target on shares of Legend Biotech in a report on Wednesday, August 27th. Johnson Rice reissued a "buy" rating on shares of Legend Biotech in a report on Thursday, July 17th. HC Wainwright reissued a "buy" rating and set a $75.00 price target on shares of Legend Biotech in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. boosted their price target on Legend Biotech from $77.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $74.22.

Legend Biotech Trading Down 1.1%

Shares of LEGN stock traded down $0.37 on Tuesday, hitting $34.25. The company had a trading volume of 1,317,139 shares, compared to its average volume of 1,432,856. The firm has a market cap of $6.32 billion, a P/E ratio of -38.92 and a beta of 0.28. The stock's 50-day moving average is $37.89 and its two-hundred day moving average is $34.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.57 and a current ratio of 4.71. Legend Biotech Corporation Sponsored ADR has a twelve month low of $27.34 and a twelve month high of $52.31.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.12). The company had revenue of $255.06 million during the quarter, compared to analyst estimates of $237.49 million. Legend Biotech had a negative net margin of 40.83% and a negative return on equity of 32.00%. The company's quarterly revenue was up 36.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities research analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current fiscal year.

Legend Biotech 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).