Public Employees Retirement System of Ohio Invests $229,000 in Legend Biotech Co. (NASDAQ:LEGN)

Public Employees Retirement System of Ohio bought a new stake in shares of Legend Biotech Co. (NASDAQ:LEGN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,700 shares of the company’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in Legend Biotech by 10,075.0% during the 2nd quarter. Blue Trust Inc. now owns 814 shares of the company’s stock valued at $36,000 after buying an additional 806 shares in the last quarter. AM Squared Ltd purchased a new position in shares of Legend Biotech in the second quarter valued at $71,000. Quantbot Technologies LP bought a new stake in Legend Biotech in the third quarter worth $148,000. SG Americas Securities LLC bought a new position in Legend Biotech during the third quarter valued at $212,000. Finally, Aigen Investment Management LP purchased a new position in shares of Legend Biotech in the 3rd quarter worth $300,000. 70.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LEGN has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a research report on Tuesday, December 10th. Redburn Atlantic initiated coverage on Legend Biotech in a research report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $86.00 price objective on shares of Legend Biotech in a research note on Monday, December 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $83.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, Legend Biotech presently has a consensus rating of “Buy” and an average target price of $81.54.

Legend Biotech Price Performance

Shares of LEGN stock opened at $34.08 on Friday. The company’s 50-day simple moving average is $41.14 and its two-hundred day simple moving average is $47.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. Legend Biotech Co. has a one year low of $32.50 and a one year high of $70.13. The company has a market capitalization of $6.22 billion, a P/E ratio of -35.87 and a beta of 0.08.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.22. The company had revenue of $160.20 million for the quarter, compared to the consensus estimate of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. Legend Biotech’s quarterly revenue was up 66.9% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. As a group, equities analysts anticipate that Legend Biotech Co. will post -1.23 EPS for the current year.

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).