Legend Biotech Co. (NASDAQ:LEGN) Receives $79.00 Average PT from Analysts

Legend Biotech Co. (NASDAQ:LEGN) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $79.00.

LEGN has been the topic of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $78.00 target price 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 note on Monday, December 9th. HC Wainwright increased their price objective on Legend Biotech from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Guggenheim reissued a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $83.00 price target on shares of Legend Biotech in a research report on Monday, December 9th.

Legend Biotech Stock Down 0.9 %

Shares of LEGN stock opened at $35.06 on Tuesday. 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 business’s fifty day moving average is $36.44 and its 200-day moving average is $39.59. Legend Biotech has a 1 year low of $30.17 and a 1 year high of $60.87. The stock has a market cap of $6.44 billion, a PE ratio of -36.90 and a beta of 0.19.

Legend Biotech (NASDAQ:LEGN) last issued its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.46. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business had revenue of $186.50 million for the quarter, compared to analysts’ expectations of $179.00 million. During the same period in the previous year, the firm posted ($0.40) EPS. The company’s quarterly revenue was up 134.6% on a year-over-year basis. Equities analysts expect that Legend Biotech will post -1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Legend Biotech

A number of institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its stake in Legend Biotech by 1,052.7% in the fourth quarter. Signaturefd LLC now owns 1,729 shares of the company’s stock valued at $56,000 after acquiring an additional 1,579 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Legend Biotech in the 4th quarter valued at about $56,000. Shell Asset Management Co. grew its stake in shares of Legend Biotech by 62.0% during the 4th quarter. Shell Asset Management Co. now owns 2,090 shares of the company’s stock worth $68,000 after acquiring an additional 800 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Legend Biotech in the 4th quarter valued at $77,000. Finally, Quadrant Capital Group LLC raised its holdings in Legend Biotech by 4,296.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,825 shares of the company’s stock worth $124,000 after acquiring an additional 3,738 shares in the last quarter. 70.89% of the stock is owned by institutional investors.

About Legend Biotech

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).