Legend Biotech (NASDAQ:LEGN) Trading Down 2.1%

Legend Biotech Co. (NASDAQ:LEGN - Get Free Report) was down 2.1% during mid-day trading on Thursday . The stock traded as low as $55.00 and last traded at $55.71. Approximately 82,661 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 975,628 shares. The stock had previously closed at $56.93.

Analyst Ratings Changes

A number of research firms have recently commented on LEGN. 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. Scotiabank started coverage on shares of Legend Biotech in a report on Tuesday, December 19th. They set a "sector perform" rating and a $65.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and issued a $85.00 target price on shares of Legend Biotech in a research note on Thursday, March 7th. Barclays lifted their price target on Legend Biotech from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 24th. Finally, Raymond James started coverage on Legend Biotech in a research report on Wednesday, March 13th. They set an "outperform" rating and a $86.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $82.76.

Legend Biotech Trading Down 1.5 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 6.92 and a quick ratio of 6.83. The stock has a market capitalization of $9.26 billion, a P/E ratio of -37.90 and a beta of 0.04. The firm's 50 day moving average price is $60.70 and its 200 day moving average price is $62.24.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly 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 return on equity of 37.19% and a negative net margin of 181.75%. The company had revenue of $76.50 million during the quarter, compared to analyst estimates of $95.63 million. The company's revenue was up 177.2% compared to the same quarter last year. As a group, equities research analysts expect that Legend Biotech Co. will post -1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Legend Biotech

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