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

Legend Biotech Co. (NASDAQ:LEGN - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $76.20.

A number of analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Truist Financial dropped their price target on shares of Legend Biotech from $88.00 to $71.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Guggenheim restated a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Royal Bank of Canada restated an "outperform" rating and set a $84.00 price target on shares of Legend Biotech in a research report on Tuesday, April 22nd. Finally, HC Wainwright restated a "buy" rating and set a $75.00 price target on shares of Legend Biotech in a research report on Wednesday, April 16th.

Legend Biotech Price Performance

LEGN opened at $35.00 on Friday. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of -36.84 and a beta of 0.13. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. Legend Biotech has a twelve month low of $27.34 and a twelve month high of $60.87. The company has a fifty day simple moving average of $31.47 and a 200 day simple moving average of $34.61.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.33. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company had revenue of $195.05 million during the quarter, compared to analyst estimates of $190.83 million. During the same period last year, the business earned ($0.16) EPS. The firm's revenue for the quarter was up 107.8% compared to the same quarter last year. Equities research analysts expect that Legend Biotech will post -1.31 EPS for the current fiscal year.

Institutional Trading of Legend Biotech

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Legend Biotech by 145.4% during the 1st quarter. GAMMA Investing LLC now owns 1,291 shares of the company's stock worth $44,000 after buying an additional 765 shares during the period. Quarry LP bought a new position in shares of Legend Biotech during the 1st quarter worth approximately $48,000. Signaturefd LLC grew its stake in shares of Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company's stock worth $56,000 after acquiring an additional 1,579 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Legend Biotech during the 4th quarter worth approximately $56,000. Finally, Brooklyn Investment Group grew its stake in shares of Legend Biotech by 1,114.8% during the 1st quarter. Brooklyn Investment Group now owns 1,725 shares of the company's stock worth $59,000 after acquiring an additional 1,583 shares in the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

Legend Biotech Company 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).

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