Legend Biotech Co. (NASDAQ:LEGN) Receives Average Recommendation of “Buy” from Brokerages

Shares of Legend Biotech Co. (NASDAQ:LEGNGet Free Report) have been assigned a consensus recommendation of “Buy” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $81.10.

A number of research firms have recently commented on LEGN. Deutsche Bank Aktiengesellschaft initiated coverage on Legend Biotech in a research report on Thursday, May 23rd. They set a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada boosted their price objective on Legend Biotech from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Raymond James initiated coverage on Legend Biotech in a research report on Wednesday, March 13th. They set an “outperform” rating and a $86.00 target price on the stock. Scotiabank raised shares of Legend Biotech from a “sector perform” rating to a “sector outperform” rating and set a $65.00 price target for the company in a report on Wednesday, April 17th. Finally, Cantor Fitzgerald assumed coverage on shares of Legend Biotech in a research report on Wednesday, April 3rd. They set an “overweight” rating and a $82.00 price objective for the company.

Read Our Latest Stock Analysis on Legend Biotech

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LEGN. Wellington Management Group LLP increased its holdings in shares of Legend Biotech by 71.6% in the fourth quarter. Wellington Management Group LLP now owns 2,306,391 shares of the company’s stock valued at $138,776,000 after purchasing an additional 962,381 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Legend Biotech by 101.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,708,510 shares of the company’s stock worth $114,761,000 after acquiring an additional 860,410 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Legend Biotech by 71.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,668,150 shares of the company’s stock worth $112,050,000 after acquiring an additional 696,096 shares during the period. RA Capital Management L.P. boosted its position in shares of Legend Biotech by 9.5% during the 1st quarter. RA Capital Management L.P. now owns 6,861,097 shares of the company’s stock valued at $384,839,000 after acquiring an additional 596,390 shares during the last quarter. Finally, Altitude Crest Partners Inc. purchased a new stake in shares of Legend Biotech in the fourth quarter valued at about $32,601,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Legend Biotech Trading Up 3.3 %

Shares of NASDAQ:LEGN opened at $41.34 on Wednesday. The company has a current ratio of 5.66, a quick ratio of 5.57 and a debt-to-equity ratio of 0.25. Legend Biotech has a 12-month low of $38.60 and a 12-month high of $77.32. The business has a 50 day moving average of $47.47 and a two-hundred day moving average of $55.86. The company has a market capitalization of $7.54 billion, a PE ratio of -31.80 and a beta of 0.09.

Legend Biotech (NASDAQ:LEGNGet Free Report) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.13. Legend Biotech had a negative net margin of 135.92% and a negative return on equity of 27.91%. The firm had revenue of $93.90 million for the quarter, compared to the consensus estimate of $143.24 million. During the same period in the prior year, the firm posted ($0.40) earnings per share. The firm’s quarterly revenue was up 158.7% compared to the same quarter last year. As a group, analysts forecast that Legend Biotech will post -1.96 EPS for the current 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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