Legend Biotech (NASDAQ:LEGN) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Legend Biotech (NASDAQ:LEGN) in a research note published on Tuesday,Benzinga reports. They currently have a $73.00 price target on the stock.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $78.00 price objective on shares of Legend Biotech in a report on Monday, December 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. Redburn Atlantic started coverage on shares of Legend Biotech in a research report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $83.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $80.62.

Legend Biotech Stock Up 6.2 %

LEGN opened at $34.67 on Tuesday. Legend Biotech has a fifty-two week low of $30.17 and a fifty-two week high of $70.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The company has a fifty day moving average of $36.59 and a two-hundred day moving average of $45.91. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of -36.49 and a beta of 0.16.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.22. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The company had revenue of $160.20 million during the quarter, compared to analysts’ expectations of $143.91 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 66.9% on a year-over-year basis. On average, research analysts expect that Legend Biotech will post -1.24 earnings per share for the current year.

Hedge Funds Weigh In On Legend Biotech

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its position in Legend Biotech by 4.0% during the third quarter. FMR LLC now owns 18,330,219 shares of the company’s stock worth $893,232,000 after acquiring an additional 708,620 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Legend Biotech by 5.6% during the third quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock worth $245,526,000 after acquiring an additional 266,296 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Legend Biotech by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company’s stock worth $110,868,000 after acquiring an additional 314,449 shares during the last quarter. State Street Corp boosted its position in Legend Biotech by 0.4% during the third quarter. State Street Corp now owns 1,140,222 shares of the company’s stock worth $55,563,000 after acquiring an additional 4,735 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Legend Biotech by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 494,864 shares of the company’s stock valued at $23,933,000 after purchasing an additional 17,337 shares during the last quarter. 70.89% of the stock is currently 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).