Legend Biotech (NASDAQ:LEGN) Sets New 1-Year Low at $45.52

Legend Biotech Co. (NASDAQ:LEGN - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $45.52 and last traded at $45.75, with a volume of 131838 shares. The stock had previously closed at $46.19.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LEGN. UBS Group raised their price target on Legend Biotech from $76.00 to $81.00 and gave the stock a "buy" rating in a research report on Monday, March 18th. Scotiabank upgraded Legend Biotech from a "sector perform" rating to a "sector outperform" rating and set a $65.00 target price on the stock in a report on Wednesday, April 17th. Royal Bank of Canada reiterated an "outperform" rating and set a $85.00 target price on shares of Legend Biotech in a report on Thursday, March 7th. Cantor Fitzgerald began coverage on Legend Biotech in a report on Wednesday, April 3rd. They set an "overweight" rating and a $82.00 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $87.00 target price on shares of Legend Biotech in a report on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Legend Biotech presently has an average rating of "Moderate Buy" and an average target price of $83.26.

Legend Biotech Price Performance

The company has a 50 day simple moving average of $59.04 and a 200-day simple moving average of $60.65. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of -31.80 and a beta of 0.01. The company has a current ratio of 6.92, a quick ratio of 6.83 and a debt-to-equity ratio of 0.22.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its earnings results on Monday, March 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.70) by $0.30. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The business had revenue of $76.50 million for the quarter, compared to the consensus estimate of $95.63 million. The company's quarterly revenue was up 177.2% on a year-over-year basis. Research analysts expect that Legend Biotech Co. will post -1.43 EPS for the current year.

Institutional Trading of Legend Biotech

Institutional investors and hedge funds have recently bought and sold shares of the stock. BluePath Capital Management LLC bought a new stake in Legend Biotech in the third quarter valued at approximately $32,000. Quarry LP bought a new stake in Legend Biotech in the fourth quarter valued at approximately $45,000. PNC Financial Services Group Inc. raised its stake in Legend Biotech by 53.9% in the third quarter. PNC Financial Services Group Inc. now owns 1,348 shares of the company's stock valued at $91,000 after buying an additional 472 shares during the period. Barometer Capital Management Inc. bought a new stake in Legend Biotech in the fourth quarter valued at approximately $120,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Legend Biotech by 141.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,048 shares of the company's stock valued at $138,000 after buying an additional 1,199 shares during the period. Institutional investors own 70.89% of the company's stock.

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).