Legend Biotech (NASDAQ:LEGN) Rating Reiterated by HC Wainwright

HC Wainwright restated their buy rating on shares of Legend Biotech (NASDAQ:LEGN) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $73.00 target price on the stock.

Several other equities analysts have also commented on LEGN. Raymond James assumed coverage on Legend Biotech in a report on Wednesday, March 13th. They issued an outperform rating and a $86.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Legend Biotech in a research report on Thursday, May 23rd. They set a buy rating and a $60.00 target price on the stock. Royal Bank of Canada reiterated an outperform rating and issued a $86.00 price target on shares of Legend Biotech in a research note on Friday, June 21st. UBS Group boosted their price objective on shares of Legend Biotech from $76.00 to $81.00 and gave the stock a buy rating in a research report on Monday, March 18th. Finally, Cantor Fitzgerald assumed coverage on shares of Legend Biotech in a research report on Wednesday, April 3rd. They issued an overweight rating and a $82.00 target price on the stock. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $82.31.

Legend Biotech Stock Performance

Shares of LEGN opened at $45.91 on Wednesday. Legend Biotech has a 1 year low of $38.60 and a 1 year high of $77.32. The stock has a market capitalization of $8.37 billion, a PE ratio of -35.32 and a beta of 0.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 5.57 and a current ratio of 5.66. The stock has a 50-day simple moving average of $43.73 and a 200-day simple moving average of $53.43.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.13. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. The company had revenue of $93.90 million during the quarter, compared to the consensus estimate of $143.24 million. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. The firm’s quarterly revenue was up 158.7% on a year-over-year basis. On average, analysts predict that Legend Biotech will post -1.93 earnings per share for the current fiscal year.

Institutional Trading of Legend Biotech

Hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC raised its stake in shares of Legend Biotech by 2.5% during the 4th quarter. Avior Wealth Management LLC now owns 7,396 shares of the company’s stock worth $445,000 after buying an additional 182 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Legend Biotech by 5.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,884 shares of the company’s stock valued at $294,000 after buying an additional 253 shares in the last quarter. US Bancorp DE raised its stake in shares of Legend Biotech by 4.5% during the 1st quarter. US Bancorp DE now owns 6,835 shares of the company’s stock worth $383,000 after buying an additional 293 shares during the last quarter. American International Group Inc. boosted its position in shares of Legend Biotech by 50.0% in the 1st quarter. American International Group Inc. now owns 900 shares of the company’s stock worth $50,000 after buying an additional 300 shares in the last quarter. Finally, Krane Funds Advisors LLC grew its stake in Legend Biotech by 2.3% in the 4th quarter. Krane Funds Advisors LLC now owns 20,440 shares of the company’s stock valued at $1,230,000 after acquiring an additional 451 shares during the last quarter. 70.89% of the stock is owned by institutional investors and hedge funds.

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).