Legend Biotech Co. (NASDAQ:LEGN - Get Free Report) has received an average recommendation of "Moderate Buy" from the fourteen analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $82.70.
Several analysts have commented on the stock. Scotiabank began coverage on shares of Legend Biotech in a report on Tuesday, December 19th. They issued a "sector perform" rating and a $65.00 price objective for the company. Raymond James initiated coverage on shares of Legend Biotech in a research note on Wednesday, March 13th. They issued an "outperform" rating and a $86.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $87.00 target price on shares of Legend Biotech in a report on Monday, April 1st. UBS Group lifted their target price on Legend Biotech from $76.00 to $81.00 and gave the company a "buy" rating in a research report on Monday, March 18th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $85.00 price objective on shares of Legend Biotech in a research note on Thursday, March 7th.
Get Our Latest Report on Legend Biotech
Hedge Funds Weigh In On Legend Biotech
Several hedge funds have recently bought and sold shares of LEGN. E Fund Management Hong Kong Co. Ltd. increased its holdings in Legend Biotech by 197.1% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 26,523 shares of the company's stock valued at $1,079,000 after purchasing an additional 17,596 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Legend Biotech by 19.2% in the 1st quarter. Bank of New York Mellon Corp now owns 37,900 shares of the company's stock valued at $1,377,000 after acquiring an additional 6,100 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in Legend Biotech during the first quarter valued at $432,000. BlackRock Inc. lifted its position in shares of Legend Biotech by 26.6% in the 1st quarter. BlackRock Inc. now owns 3,046,229 shares of the company's stock worth $110,701,000 after buying an additional 639,828 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new position in shares of Legend Biotech in the 1st quarter valued at about $353,000. Hedge funds and other institutional investors own 70.89% of the company's stock.
Legend Biotech Price Performance
LEGN stock traded up $1.56 during midday trading on Tuesday, reaching $56.36. 1,244,153 shares of the stock were exchanged, compared to its average volume of 983,098. The stock has a market capitalization of $10.25 billion, a PE ratio of -38.08 and a beta of 0.01. The company has a fifty day moving average price of $60.43 and a 200 day moving average price of $61.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.92 and a quick ratio of 6.83. Legend Biotech has a 52 week low of $48.37 and a 52 week high of $77.32.
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, topping the consensus estimate of ($0.70) by $0.30. The firm had revenue of $76.50 million during the quarter, compared to analyst estimates of $95.63 million. Legend Biotech had a negative net margin of 181.75% and a negative return on equity of 37.19%. The company's revenue was up 177.2% on a year-over-year basis. As a group, analysts expect that Legend Biotech will post -1.39 EPS for the current fiscal year.
Legend Biotech Company Profile
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Get Free ReportLegend 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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