TD Asset Management Inc Has $3.67 Million Stake in Legend Biotech Corporation Sponsored ADR $LEGN

Key Points

• TD Asset Management Inc increased its stake in Legend Biotech Corporation to $3.67 million after acquiring an additional 9,200 shares, representing a 9.8% rise in position.
• Legend Biotech reported quarterly earnings of ($0.34) per share, missing estimates, but its revenue grew by 36.8% year-over-year to $255.06 million.
• Analysts have set varied price targets for Legend Biotech, with Royal Bank of Canada issuing an increased target of $77.00 while the consensus target price stands at $66.56.

TD Asset Management Inc lifted its position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Free Report) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,392 shares of the company's stock after buying an additional 9,200 shares during the period. TD Asset Management Inc owned about 0.06% of Legend Biotech worth $3,669,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GF Fund Management CO. LTD. boosted its position in Legend Biotech by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,092 shares of the company's stock worth $71,000 after acquiring an additional 377 shares during the last quarter. Rhumbline Advisers lifted its position in shares of 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 purchasing an additional 391 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Legend Biotech by 1.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,610 shares of the company's stock worth $1,887,000 after purchasing an additional 579 shares during 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 valued at $44,000 after purchasing an additional 765 shares in the last quarter. Finally, Diversified Trust Co increased its stake in Legend Biotech by 1.9% in the 1st quarter. Diversified Trust Co now owns 46,151 shares of the company's stock valued at $1,566,000 after buying an additional 863 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company's stock.

Legend Biotech Stock Performance

NASDAQ:LEGN opened at $32.91 on Tuesday. The stock has a 50 day simple moving average of $34.10 and a 200 day simple moving average of $34.44. The stock has a market cap of $6.07 billion, a P/E ratio of -37.40 and a beta of 0.23. Legend Biotech Corporation Sponsored ADR has a 1-year low of $27.34 and a 1-year high of $47.79. The company has a current ratio of 4.71, a quick ratio of 4.57 and a debt-to-equity ratio of 0.30.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $255.06 million for the quarter, compared to the consensus estimate of $237.49 million. Legend Biotech had a negative return on equity of 32.00% and a negative net margin of 40.83%.The firm's quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. Research analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LEGN shares. Royal Bank Of Canada restated an "outperform" rating and issued a $77.00 price objective (up previously from $75.00) on shares of Legend Biotech in a report on Tuesday, August 12th. UBS Group set a $54.00 price target on Legend Biotech and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their price target on Legend Biotech from $81.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 12th. Johnson Rice set a $60.00 price objective on Legend Biotech in a report on Friday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Legend Biotech in a research note on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $66.56.

About Legend Biotech

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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