National Pension Service Grows Position in Legend Biotech Co. (NASDAQ:LEGN)

National Pension Service raised its stake in shares of Legend Biotech Co. (NASDAQ:LEGN) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,535 shares of the company’s stock after purchasing an additional 961 shares during the period. National Pension Service’s holdings in Legend Biotech were worth $1,147,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LEGN. Blue Trust Inc. lifted its position in shares of 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. American International Group Inc. lifted its holdings in Legend Biotech by 50.0% during the first quarter. American International Group Inc. now owns 900 shares of the company’s stock valued at $50,000 after purchasing an additional 300 shares in the last quarter. AM Squared Ltd bought a new position in shares of Legend Biotech in the second quarter worth approximately $71,000. California State Teachers Retirement System increased its stake in shares of Legend Biotech by 196.3% in the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company’s stock worth $188,000 after purchasing an additional 2,216 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Legend Biotech during the 1st quarter valued at $203,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on LEGN shares. HC Wainwright reaffirmed a “buy” rating and issued a $73.00 target price on shares of Legend Biotech in a report on Wednesday, October 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a research note on Tuesday, October 29th. Redburn Atlantic initiated coverage on Legend Biotech in a research report on Tuesday, October 8th. They set a “buy” rating and a $86.00 target price for the company. TD Cowen lowered their price target on Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Scotiabank increased their price objective on shares of Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a report on Monday, August 12th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $81.46.

Legend Biotech Trading Down 1.1 %

Shares of NASDAQ LEGN opened at $40.95 on Friday. The business’s 50 day moving average price is $48.21 and its 200-day moving average price is $48.54. Legend Biotech Co. has a fifty-two week low of $38.60 and a fifty-two week high of $70.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.78 and a current ratio of 4.84. The company has a market cap of $7.47 billion, a price-to-earnings ratio of -52.58 and a beta of 0.11.

Legend Biotech (NASDAQ:LEGN) last released its earnings results on Friday, August 9th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.49. The business had revenue of $186.50 million for the quarter, compared to analyst estimates of $125.25 million. Legend Biotech had a negative return on equity of 23.20% and a negative net margin of 62.50%. The business’s revenue was up 154.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.27) earnings per share. On average, sell-side analysts expect that Legend Biotech Co. will post -1.48 earnings per share for the current year.

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).