Legend Biotech Co. (NASDAQ:LEGN) Receives Average Recommendation of "Moderate Buy" from Analysts

Legend Biotech Co. (NASDAQ:LEGN - Get Free Report) has earned an average rating of "Moderate Buy" from the twelve research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $78.82.

LEGN has been the subject of several research analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $75.00 target price on shares of Legend Biotech in a report on Wednesday, April 16th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $84.00 target price on shares of Legend Biotech in a report on Tuesday, April 22nd. Morgan Stanley reduced their target price on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th.

Institutional Trading of Legend Biotech

Large investors have recently added to or reduced their stakes in the stock. Exane Asset Management purchased a new position in shares of Legend Biotech in the fourth quarter worth about $2,284,000. Matthews International Capital Management LLC increased its stake in shares of Legend Biotech by 14.9% in the fourth quarter. Matthews International Capital Management LLC now owns 1,185,516 shares of the company's stock worth $38,577,000 after purchasing an additional 153,665 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Legend Biotech by 26.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 11,085 shares of the company's stock worth $360,000 after purchasing an additional 2,297 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Legend Biotech by 196.1% in the fourth quarter. New York State Common Retirement Fund now owns 59,276 shares of the company's stock worth $1,929,000 after purchasing an additional 39,256 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Legend Biotech by 1,513.3% in the fourth quarter. Blue Trust Inc. now owns 5,840 shares of the company's stock worth $190,000 after purchasing an additional 5,478 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company's stock.

Legend Biotech Stock Performance

Shares of LEGN opened at $31.08 on Wednesday. The firm has a 50-day moving average of $33.94 and a 200-day moving average of $36.15. Legend Biotech has a one year low of $29.27 and a one year high of $60.87. The company has a market cap of $5.71 billion, a PE ratio of -32.72 and a beta of 0.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.46. The company had revenue of $186.50 million during the quarter, compared to the consensus estimate of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company's quarterly revenue was up 134.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.40) EPS. As a group, equities analysts forecast that Legend Biotech will post -1.31 earnings per share for the current year.

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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