Legend Biotech Co. (NASDAQ:LEGN) Receives $81.46 Average PT from Analysts

Legend Biotech Co. (NASDAQ:LEGN) has been assigned an average rating of “Buy” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. Thirteen equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have covered the stock in the last year is $81.46.

Several analysts recently commented on LEGN shares. HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a research report on Wednesday, November 13th. Scotiabank upped their target price 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. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price target on shares of Legend Biotech in a report on Tuesday, October 29th. Finally, Redburn Atlantic initiated coverage on Legend Biotech in a research note on Tuesday, October 8th. They set a “buy” rating and a $86.00 price objective for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE lifted its position in shares of Legend Biotech by 4.5% during the 1st quarter. US Bancorp DE now owns 6,835 shares of the company’s stock valued at $383,000 after acquiring an additional 293 shares during the period. American International Group Inc. raised 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 worth $50,000 after purchasing an additional 300 shares during the last quarter. Avior Wealth Management LLC boosted its position in Legend Biotech by 3.0% during the third quarter. Avior Wealth Management LLC now owns 11,097 shares of the company’s stock worth $541,000 after purchasing an additional 323 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Legend Biotech by 1.6% during the second quarter. Public Sector Pension Investment Board now owns 24,689 shares of the company’s stock worth $1,093,000 after purchasing an additional 400 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Legend Biotech by 9.7% in the first quarter. ProShare Advisors LLC now owns 5,585 shares of the company’s stock valued at $313,000 after purchasing an additional 494 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Stock Down 0.3 %

LEGN opened at $42.58 on Wednesday. Legend Biotech has a one year low of $36.92 and a one year 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 stock has a market capitalization of $7.81 billion, a P/E ratio of -44.82 and a beta of 0.11. The business’s 50-day simple moving average is $44.58 and its 200-day simple moving average is $48.05.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results 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 analyst estimates of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm’s revenue was up 66.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Analysts anticipate that Legend Biotech will post -1.23 EPS for the current year.

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).