Zurcher Kantonalbank Zurich Cantonalbank Acquires 19,198 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN) by 61.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 50,268 shares of the company’s stock after purchasing an additional 19,198 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Legend Biotech were worth $2,450,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. FMR LLC grew its holdings in shares of 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 purchasing an additional 708,620 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Legend Biotech by 5.6% in the third quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company’s stock valued at $245,526,000 after acquiring an additional 266,296 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Legend Biotech by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company’s stock valued at $110,868,000 after acquiring an additional 314,449 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Legend Biotech by 0.3% in the second quarter. Federated Hermes Inc. now owns 1,541,345 shares of the company’s stock valued at $68,266,000 after acquiring an additional 4,285 shares during the last quarter. Finally, Tri Locum Partners LP boosted its holdings in Legend Biotech by 25.6% in the second quarter. Tri Locum Partners LP now owns 356,532 shares of the company’s stock valued at $15,791,000 after acquiring an additional 72,759 shares during the last quarter. Institutional investors own 70.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LEGN shares. Redburn Atlantic started coverage on Legend Biotech in a report on Tuesday, October 8th. They issued a “buy” rating and a $86.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Legend Biotech in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $86.00 price target on shares of Legend Biotech in a report on Tuesday, October 29th. Finally, Scotiabank raised their price target on Legend Biotech from $70.00 to $76.00 and gave the company a “sector outperform” rating in a report on Monday, August 12th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $81.46.

Legend Biotech Trading Up 0.9 %

NASDAQ LEGN opened at $43.68 on Wednesday. The firm has a market cap of $8.01 billion, a P/E ratio of -45.98 and a beta of 0.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The stock’s 50-day moving average is $44.08 and its 200-day moving average is $47.98. Legend Biotech Co. has a one year low of $36.92 and a one year high of $70.13.

Legend Biotech (NASDAQ:LEGN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates 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%. Legend Biotech’s revenue was up 66.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) earnings per share. Sell-side analysts anticipate that Legend Biotech Co. will post -1.23 earnings per share for the current fiscal year.

Legend Biotech 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).