Legend Biotech (NASDAQ:LEGN – Get Free Report) had its price target hoisted by equities researchers at Scotiabank from $65.00 to $70.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 20.19% from the stock’s previous close.
Other analysts also recently issued research reports about the company. TD Cowen cut their price target on Legend Biotech from $71.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler restated an “overweight” rating and issued a $90.00 price target on shares of Legend Biotech in a research note on Monday, June 17th. Deutsche Bank Aktiengesellschaft began coverage on Legend Biotech in a research note on Thursday, May 23rd. They issued a “buy” rating and a $60.00 price target on the stock. Truist Financial began coverage on Legend Biotech in a research report on Monday, June 17th. They issued a “buy” rating and a $88.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Legend Biotech in a research report on Thursday. Fifteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $81.58.
Check Out Our Latest Stock Report on Legend Biotech
Legend Biotech Trading Up 5.9 %
Legend Biotech (NASDAQ:LEGN – Get Free Report) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.13. Legend Biotech had a negative return on equity of 27.91% and a negative net margin of 135.92%. The company had revenue of $93.90 million for the quarter, compared to the consensus estimate of $143.24 million. During the same quarter in the previous year, the business earned ($0.40) EPS. Legend Biotech’s revenue was up 158.7% compared to the same quarter last year. On average, sell-side analysts predict that Legend Biotech will post -1.94 earnings per share for the current year.
Institutional Investors Weigh In On Legend Biotech
A number of institutional investors have recently bought and sold shares of the business. Avior Wealth Management LLC increased its stake in Legend Biotech by 2.5% in 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 grew its position in shares of Legend Biotech by 5.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,884 shares of the company’s stock valued at $294,000 after purchasing an additional 253 shares in the last quarter. US Bancorp DE grew its position in shares of Legend Biotech by 4.5% during the first quarter. US Bancorp DE now owns 6,835 shares of the company’s stock valued at $383,000 after purchasing an additional 293 shares in the last quarter. American International Group Inc. grew its position in shares of 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. Finally, Krane Funds Advisors LLC grew its position in shares of Legend Biotech by 2.3% during the fourth quarter. Krane Funds Advisors LLC now owns 20,440 shares of the company’s stock valued at $1,230,000 after purchasing an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 70.89% of the company’s stock.
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).
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