Legend Biotech (NASDAQ:LEGN) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Legend Biotech (NASDAQ:LEGN - Free Report) in a research report released on Wednesday, Marketbeat Ratings reports. The firm issued an overweight rating and a $82.00 price target on the stock.

A number of other equities research analysts also recently commented on LEGN. HC Wainwright reaffirmed a buy rating and issued a $87.00 target price on shares of Legend Biotech in a research report on Monday. Royal Bank of Canada reissued an outperform rating and set a $85.00 price objective on shares of Legend Biotech in a research report on Thursday, March 7th. Scotiabank began coverage on shares of Legend Biotech in a research report on Tuesday, December 19th. They set a sector perform rating and a $65.00 price objective for the company. UBS Group boosted their price objective 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. Finally, Raymond James began coverage on shares of Legend Biotech in a research report on Wednesday, March 13th. They set an outperform rating and a $86.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Legend Biotech presently has a consensus rating of Moderate Buy and a consensus price target of $82.70.

Legend Biotech Stock Down 0.1 %

NASDAQ LEGN traded down $0.05 during mid-day trading on Wednesday, reaching $56.38. The stock had a trading volume of 690,756 shares, compared to its average volume of 974,043. Legend Biotech has a 1 year low of $45.90 and a 1 year high of $77.32. The stock has a market cap of $10.26 billion, a PE ratio of -38.13 and a beta of 0.01. The company has a fifty day moving average price of $60.60 and a 200 day moving average price of $61.92. 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 (NASDAQ:LEGN - Get Free Report) last posted its earnings results on Monday, March 11th. The company reported ($0.40) EPS for the quarter, topping analysts' consensus estimates of ($0.70) by $0.30. Legend Biotech had a negative net margin of 181.75% and a negative return on equity of 37.19%. The business had revenue of $76.50 million during the quarter, compared to the consensus estimate of $95.63 million. The company's revenue for the quarter was up 177.2% on a year-over-year basis. On average, research analysts expect that Legend Biotech will post -1.39 earnings per share for the current year.

Institutional Trading of Legend Biotech

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Legend Biotech by 12.0% in the 4th quarter. Vanguard Group Inc. now owns 128,621 shares of the company's stock worth $7,739,000 after purchasing an additional 13,821 shares in the last quarter. Wellington Management Group LLP lifted its stake in Legend Biotech by 71.6% in the 4th quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company's stock worth $138,776,000 after purchasing an additional 962,381 shares in the last quarter. Krane Funds Advisors LLC raised its position in shares of Legend Biotech by 2.3% during the 4th quarter. Krane Funds Advisors LLC now owns 20,440 shares of the company's stock valued at $1,230,000 after buying an additional 451 shares in the last quarter. Quarry LP purchased a new stake in shares of Legend Biotech during the 4th quarter valued at about $45,000. Finally, Torno Capital LLC purchased a new stake in shares of Legend Biotech during the 4th quarter valued at about $60,000. Hedge funds and other 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).