UBS Group set a $54.00 target price on Legend Biotech (NASDAQ:LEGN - Free Report) in a report issued on Wednesday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.
Several other brokerages have also recently weighed in on LEGN. Guggenheim reaffirmed 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 target price on shares of Legend Biotech in a report on Tuesday, April 22nd. Truist Financial cut their price target on Legend Biotech from $88.00 to $71.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. HC Wainwright reissued a "buy" rating and issued a $75.00 price target on shares of Legend Biotech in a research report on Wednesday, April 16th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $55.00 price objective on shares of Legend Biotech in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $72.60.
Read Our Latest Stock Report on LEGN
Legend Biotech Trading Down 1.6%
Shares of NASDAQ LEGN traded down $0.56 during mid-day trading on Wednesday, reaching $35.35. The company had a trading volume of 604,100 shares, compared to its average volume of 1,367,472. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of -59.91 and a beta of 0.19. Legend Biotech has a 52 week low of $27.34 and a 52 week high of $60.87. The business's 50-day moving average is $32.53 and its 200-day moving average is $33.99. 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 (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $190.83 million. During the same quarter in the previous year, the business earned ($0.16) earnings per share. Legend Biotech's quarterly revenue was up 107.8% on a year-over-year basis. Equities analysts expect that Legend Biotech will post -1.31 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in LEGN. Rhumbline Advisers grew its stake in shares of Legend Biotech by 5.9% during the fourth quarter. Rhumbline Advisers now owns 27,638 shares of the company's stock worth $899,000 after acquiring an additional 1,544 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Legend Biotech by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 131,416 shares of the company's stock valued at $4,276,000 after purchasing an additional 14,588 shares during the last quarter. Aigen Investment Management LP boosted its stake in Legend Biotech by 19.6% in the 4th quarter. Aigen Investment Management LP now owns 7,363 shares of the company's stock worth $240,000 after purchasing an additional 1,206 shares in the last quarter. Candriam S.C.A. grew its position in Legend Biotech by 7.5% during the 4th quarter. Candriam S.C.A. now owns 393,452 shares of the company's stock worth $12,803,000 after purchasing an additional 27,465 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Legend Biotech during the 4th quarter valued at approximately $77,000. 70.89% of the stock is owned by institutional investors and hedge funds.
About Legend Biotech
(
Get Free Report)
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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