Shares of Legend Biotech Co. (NASDAQ:LEGN - Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $43.92 and last traded at $44.06, with a volume of 649774 shares changing hands. The stock had previously closed at $45.14.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on LEGN. HC Wainwright restated a "buy" rating and issued a $87.00 target price on shares of Legend Biotech in a research note on Tuesday, April 23rd. Cantor Fitzgerald initiated coverage on Legend Biotech in a research report on Wednesday, April 3rd. They set an "overweight" rating and a $82.00 target price for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $85.00 target price on shares of Legend Biotech in a research note on Thursday, March 7th. Scotiabank raised shares of Legend Biotech from a "sector perform" rating to a "sector outperform" rating and set a $65.00 price target for the company in a research report on Wednesday, April 17th. Finally, UBS Group boosted their price target on shares of Legend Biotech from $76.00 to $81.00 and gave the company a "buy" rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $82.64.
Read Our Latest Report on LEGN
Legend Biotech Price Performance
The firm has a market capitalization of $7.96 billion, a PE ratio of -29.55 and a beta of 0.01. The company has a fifty day moving average price of $57.80 and a two-hundred day moving average price of $59.91. 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 posted 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 firm had revenue of $76.50 million for the quarter, compared to analyst estimates of $95.63 million. The business's revenue was up 177.2% on a year-over-year basis. Sell-side analysts forecast that Legend Biotech Co. will post -1.43 earnings per share for the current year.
Hedge Funds Weigh In On Legend Biotech
Large investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Legend Biotech by 15.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 163,130 shares of the company's stock valued at $9,816,000 after purchasing an additional 22,376 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Legend Biotech by 101.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,708,510 shares of the company's stock valued at $114,761,000 after acquiring an additional 860,410 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Legend Biotech by 71.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,668,150 shares of the company's stock valued at $112,050,000 after purchasing an additional 696,096 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Legend Biotech in the 3rd quarter valued at $974,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Legend Biotech by 12.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,867,032 shares of the company's stock worth $125,409,000 after buying an additional 212,327 shares during the period. Institutional investors own 70.89% of the company's stock.
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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