Mackenzie Financial Corp Purchases 23,802 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Mackenzie Financial Corp increased its position in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 152,767 shares of the company's stock after buying an additional 23,802 shares during the quarter. Mackenzie Financial Corp owned 0.08% of Legend Biotech worth $9,192,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BluePath Capital Management LLC acquired a new position in Legend Biotech during the third quarter valued at approximately $32,000. Coppell Advisory Solutions LLC acquired a new position in Legend Biotech during the second quarter valued at approximately $41,000. American International Group Inc. acquired a new position in Legend Biotech during the second quarter valued at approximately $33,000. Lazard Asset Management LLC acquired a new position in Legend Biotech during the fourth quarter valued at approximately $33,000. Finally, Atlas Capital Advisors LLC acquired a new position in Legend Biotech during the second quarter valued at approximately $57,000. 70.89% of the stock is owned by institutional investors and hedge funds.

Legend Biotech Stock Performance

NASDAQ:LEGN traded down $0.93 during mid-day trading on Friday, hitting $46.19. 1,253,875 shares of the stock were exchanged, compared to its average volume of 906,483. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of -31.21 and a beta of 0.01. The firm's 50-day simple moving average is $59.31 and its 200 day simple moving average is $60.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 6.83 and a current ratio of 6.92. Legend Biotech Co. has a fifty-two week low of $45.68 and a fifty-two week high of $77.32.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released 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 business had revenue of $76.50 million during 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 analysts anticipate that Legend Biotech Co. will post -1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Scotiabank raised 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $85.00 price objective on shares of Legend Biotech in a research report on Thursday, March 7th. HC Wainwright reaffirmed a "buy" rating and issued a $87.00 price objective on shares of Legend Biotech in a research report on Tuesday. Raymond James assumed coverage on Legend Biotech in a research report on Wednesday, March 13th. They issued an "outperform" rating and a $86.00 price objective for the company. Finally, Barclays raised their price objective on Legend Biotech from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.26.

Legend Biotech 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).