Analysts Set Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) PT at $72.60

Shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $72.60.

A number of research firms have issued reports on LEGN. HC Wainwright reaffirmed a "buy" rating and set a $75.00 price objective on shares of Legend Biotech in a report on Wednesday, April 16th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $84.00 price objective on shares of Legend Biotech in a research note on Tuesday, April 22nd. Guggenheim reissued a "neutral" rating on shares of Legend Biotech in a research report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 target price on shares of Legend Biotech in a report on Wednesday, May 14th. Finally, Truist Financial decreased their price target on Legend Biotech from $88.00 to $71.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Legend Biotech in the fourth quarter worth $914,000. JPMorgan Chase & Co. boosted its stake in Legend Biotech by 176.0% in the 4th quarter. JPMorgan Chase & Co. now owns 998,016 shares of the company's stock worth $32,475,000 after purchasing an additional 636,390 shares during the period. First Trust Advisors LP boosted its stake in Legend Biotech by 76.3% in the 4th quarter. First Trust Advisors LP now owns 20,669 shares of the company's stock worth $673,000 after purchasing an additional 8,948 shares during the period. Sei Investments Co. grew its holdings in Legend Biotech by 29.1% during the 4th quarter. Sei Investments Co. now owns 66,855 shares of the company's stock valued at $2,175,000 after buying an additional 15,058 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Legend Biotech by 5.9% during the fourth quarter. Rhumbline Advisers now owns 27,638 shares of the company's stock valued at $899,000 after buying an additional 1,544 shares during the period. 70.89% of the stock is currently owned by hedge funds and other institutional investors.

Legend Biotech Stock Down 1.6%

NASDAQ LEGN traded down $0.56 during trading hours on Thursday, hitting $35.35. The company's stock had a trading volume of 604,100 shares, compared to its average volume of 1,363,446. The company has a market capitalization of $6.50 billion, a PE ratio of -59.91 and a beta of 0.19. The company has a current ratio of 5.20, a quick ratio of 5.07 and a debt-to-equity ratio of 0.30. Legend Biotech has a 52 week low of $27.34 and a 52 week high of $60.87. The company's 50-day simple moving average is $32.51 and its two-hundred day simple moving average is $33.98.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS 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 firm had revenue of $195.05 million during the quarter, compared to the consensus estimate of $190.83 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The company's quarterly revenue was up 107.8% compared to the same quarter last year. Research analysts anticipate that Legend Biotech will post -1.31 EPS for the current fiscal 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).