Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $72.60.

Several equities analysts recently commented on the company. Guggenheim restated a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Cantor Fitzgerald restated an "overweight" rating and set a $55.00 target price on shares of Legend Biotech in a research report on Wednesday, May 14th. HC Wainwright restated a "buy" rating and set a $75.00 target price on shares of Legend Biotech in a research report on Wednesday, April 16th. UBS Group set a $54.00 target price on Legend Biotech and gave the stock a "buy" rating in a research report on Wednesday. Finally, Morgan Stanley cut their target price on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, March 17th.

Institutional Investors Weigh In On Legend Biotech

A number of institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC acquired a new stake in shares of Legend Biotech during the first quarter worth $537,000. Rhumbline Advisers grew its stake in Legend Biotech by 1.4% in the first quarter. Rhumbline Advisers now owns 28,029 shares of the company's stock valued at $951,000 after acquiring an additional 391 shares during the period. Alliancebernstein L.P. grew its stake in Legend Biotech by 2.2% in the first quarter. Alliancebernstein L.P. now owns 1,508,252 shares of the company's stock valued at $51,175,000 after acquiring an additional 32,101 shares during the period. Advisors Asset Management Inc. grew its stake in Legend Biotech by 193.5% in the first quarter. Advisors Asset Management Inc. now owns 19,825 shares of the company's stock valued at $673,000 after acquiring an additional 13,070 shares during the period. Finally, Allostery Investments LP acquired a new position in Legend Biotech in the first quarter valued at about $161,000. 70.89% of the stock is owned by institutional investors and hedge funds.

Legend Biotech Stock Performance

Shares of NASDAQ:LEGN traded down $0.56 during trading on Thursday, hitting $35.35. 604,100 shares of the stock were exchanged, compared to its average volume of 1,370,811. Legend Biotech has a 1-year low of $27.34 and a 1-year high of $60.87. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of -59.91 and a beta of 0.19. The company's fifty day simple moving average is $32.56 and its 200-day simple moving average is $34.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.07 and a current ratio of 5.20.

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 return on equity of 21.19% and a negative net margin of 29.95%. The company had revenue of $195.05 million for the quarter, compared to analyst estimates of $190.83 million. During the same quarter last year, the firm earned ($0.16) EPS. Legend Biotech's revenue for the quarter was up 107.8% compared to the same quarter last year. Sell-side analysts expect that Legend Biotech will post -1.31 EPS for the current fiscal year.

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).