Legend Biotech Co. (NASDAQ:LEGN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Legend Biotech Co. (NASDAQ:LEGNGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $82.76.

A number of research analysts have commented on LEGN shares. Scotiabank started coverage on Legend Biotech in a research report on Tuesday, December 19th. They set a “sector perform” rating and a $65.00 price target for the company. UBS Group increased their target price on Legend Biotech from $76.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Legend Biotech in a research report on Thursday, March 7th. Raymond James initiated coverage on Legend Biotech in a research report on Wednesday, March 13th. They issued an “outperform” rating and a $86.00 target price for the company. Finally, Barclays increased their target price on Legend Biotech from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th.

Check Out Our Latest Stock Report on Legend Biotech

Hedge Funds Weigh In On Legend Biotech

Institutional investors have recently bought and sold shares of the stock. BluePath Capital Management LLC bought a new position in Legend Biotech in the 3rd quarter worth $32,000. Coppell Advisory Solutions LLC bought a new position in Legend Biotech in the 2nd quarter worth $41,000. American International Group Inc. bought a new position in Legend Biotech in the 2nd quarter worth $33,000. Lazard Asset Management LLC bought a new position in Legend Biotech in the 4th quarter worth $33,000. Finally, Quarry LP bought a new position in Legend Biotech in the 4th quarter worth $45,000. 49.61% of the stock is owned by institutional investors.

Legend Biotech Price Performance

Legend Biotech stock opened at $62.82 on Friday. Legend Biotech has a 52 week low of $43.35 and a 52 week high of $77.32. The business has a 50-day simple moving average of $60.96 and a 200 day simple moving average of $62.65. The company has a quick ratio of 6.83, a current ratio of 6.92 and a debt-to-equity ratio of 0.22. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of -42.45 and a beta of 0.04.

Legend Biotech (NASDAQ:LEGNGet Free Report) last posted its earnings results on Monday, March 11th. The company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.30. Legend Biotech had a negative return on equity of 37.19% and a negative net margin of 181.75%. The business had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $95.63 million. The firm’s revenue was up 177.2% on a year-over-year basis. On average, research analysts forecast that Legend Biotech will post -1.39 earnings per share for the current fiscal year.

Legend Biotech Company Profile

(Get Free Report

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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Analyst Recommendations for Legend Biotech (NASDAQ:LEGN)

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