Westfield Capital Management Co. LP Purchases 266,296 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Westfield Capital Management Co. LP lifted its holdings in Legend Biotech Co. (NASDAQ:LEGN) by 5.6% during the third quarter, HoldingsChannel reports. The firm owned 5,038,505 shares of the company’s stock after purchasing an additional 266,296 shares during the period. Legend Biotech comprises 1.1% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its 14th biggest position. Westfield Capital Management Co. LP’s holdings in Legend Biotech were worth $245,526,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. ProShare Advisors LLC increased its position in Legend Biotech by 9.7% during the first quarter. ProShare Advisors LLC now owns 5,585 shares of the company’s stock worth $313,000 after acquiring an additional 494 shares during the period. Vanguard Group Inc. increased its holdings in shares of Legend Biotech by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 129,359 shares of the company’s stock worth $7,256,000 after purchasing an additional 738 shares during the period. American International Group Inc. raised 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 buying an additional 300 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Legend Biotech by 79.8% in the first quarter. Advisors Asset Management Inc. now owns 4,494 shares of the company’s stock valued at $252,000 after buying an additional 1,995 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Legend Biotech by 1.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,949,120 shares of the company’s stock valued at $614,137,000 after buying an additional 140,904 shares during the period. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Stock Performance

NASDAQ:LEGN opened at $40.94 on Friday. The stock has a market capitalization of $7.46 billion, a P/E ratio of -43.09 and a beta of 0.11. Legend Biotech Co. has a 1 year low of $36.92 and a 1 year high of $70.13. The firm has a 50 day moving average of $44.92 and a 200-day moving average of $48.06. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27.

Legend Biotech (NASDAQ:LEGN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.22. The firm had revenue of $160.20 million during the quarter, compared to the consensus estimate of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business’s revenue for the quarter was up 66.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) EPS. As a group, sell-side analysts anticipate that Legend Biotech Co. will post -1.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LEGN shares. Scotiabank upped 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. Redburn Atlantic assumed coverage on Legend Biotech in a research note on Tuesday, October 8th. They issued a “buy” rating and a $86.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $73.00 price target on shares of Legend Biotech in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $86.00 price objective on shares of Legend Biotech in a research note on Tuesday, October 29th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $81.46.

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).