Mirae Asset Global Investments Co. Ltd. Purchases New Position in Legend Biotech Co. (NASDAQ:LEGN)

Mirae Asset Global Investments Co. Ltd. bought a new position in Legend Biotech Co. (NASDAQ:LEGN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 60,492 shares of the company's stock, valued at approximately $3,640,000.

A number of other hedge funds also recently bought and sold shares of LEGN. BluePath Capital Management LLC purchased a new position in Legend Biotech in the 3rd quarter worth approximately $32,000. American International Group Inc. purchased a new position in Legend Biotech in the 2nd quarter worth approximately $33,000. Lazard Asset Management LLC purchased a new position in Legend Biotech in the 4th quarter worth approximately $33,000. Coppell Advisory Solutions LLC purchased a new position in Legend Biotech in the 2nd quarter worth approximately $41,000. Finally, Atlas Capital Advisors LLC purchased a new position in Legend Biotech in the 2nd quarter worth approximately $57,000. Institutional investors own 70.89% of the company's stock.

Wall Street Analyst Weigh In

LEGN has been the topic of a number of analyst reports. UBS Group lifted their price target on Legend Biotech from $76.00 to $81.00 and gave the stock a "buy" rating in a research note on Monday, March 18th. Barclays boosted their target price on Legend Biotech from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. Raymond James assumed coverage on Legend Biotech in a research note on Wednesday, March 13th. They set an "outperform" rating and a $86.00 target price on the stock. HC Wainwright reissued a "buy" rating and set a $87.00 target price on shares of Legend Biotech in a research note on Tuesday. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $85.00 target price on shares of Legend Biotech in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Legend Biotech presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.70.

Legend Biotech Stock Down 2.6 %

LEGN stock traded down $1.29 during midday trading on Wednesday, hitting $48.83. The stock had a trading volume of 1,411,963 shares, compared to its average volume of 994,652. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of -32.99 and a beta of 0.01. The business has a 50-day moving average of $59.84 and a two-hundred day moving average of $61.06. Legend Biotech Co. has a 52-week low of $48.03 and a 52-week high of $77.32. 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 issued its quarterly earnings results on Monday, March 11th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.30. The company had revenue of $76.50 million for the quarter, compared to analysts' expectations of $95.63 million. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The firm's revenue was up 177.2% on a year-over-year basis. As a group, equities research analysts forecast that Legend Biotech Co. will post -1.42 earnings per share for the current fiscal year.

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).