Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN – Get Free Report) has been given an average rating of “Moderate Buy” by the fourteen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $57.00.
LEGN has been the subject of several recent analyst reports. Royal Bank Of Canada cut their target price on Legend Biotech from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. TD Cowen increased their price target on Legend Biotech to $29.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings downgraded Legend Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. assumed coverage on shares of Legend Biotech in a research note on Monday, July 13th. They set a “neutral” rating and a $35.00 target price for the company. Finally, UBS Group lifted their price target on shares of Legend Biotech from $31.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd.
Check Out Our Latest Stock Analysis on LEGN
Insider Activity at Legend Biotech
Hedge Funds Weigh In On Legend Biotech
Several institutional investors have recently modified their holdings of LEGN. Suvretta Capital Management LLC raised its stake in Legend Biotech by 73.1% during the 4th quarter. Suvretta Capital Management LLC now owns 6,608,629 shares of the company’s stock valued at $143,672,000 after acquiring an additional 2,790,620 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Legend Biotech in the 2nd quarter valued at approximately $55,307,000. Goldman Sachs Group Inc. increased its holdings in shares of Legend Biotech by 120.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,174,535 shares of the company’s stock valued at $47,274,000 after purchasing an additional 1,188,449 shares during the period. Davern Capital Partners LP acquired a new position in shares of Legend Biotech in the fourth quarter valued at approximately $22,972,000. Finally, Marshall Wace LLP raised its stake in shares of Legend Biotech by 4,129.8% during the fourth quarter. Marshall Wace LLP now owns 755,953 shares of the company’s stock worth $16,434,000 after purchasing an additional 738,081 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.
Legend Biotech Price Performance
Shares of NASDAQ:LEGN opened at $22.26 on Monday. Legend Biotech has a 1 year low of $16.24 and a 1 year high of $45.30. The firm has a market capitalization of $4.13 billion, a PE ratio of -32.73 and a beta of 0.34. The business’s 50 day moving average price is $29.33 and its 200-day moving average price is $23.32.
Legend Biotech (NASDAQ:LEGN – Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Legend Biotech had a negative net margin of 21.98% and a negative return on equity of 24.92%. The business had revenue of $305.10 million during the quarter, compared to analyst estimates of $306.51 million. During the same quarter last year, the company earned ($0.07) earnings per share. Legend Biotech’s quarterly revenue was up 56.5% on a year-over-year basis. As a group, analysts expect that Legend Biotech will post -0.01 earnings per share for the current year.
Legend Biotech Company Profile
Legend Biotech (NASDAQ: LEGN) is a commercial-stage biopharmaceutical company specializing in the development and commercialization of chimeric antigen receptor T-cell (CAR-T) therapies for oncology. Headquartered in Somerset, New Jersey, with research and development operations in Shanghai, the company leverages a global infrastructure to advance innovative cellular therapies. Legend Biotech pursues a strategy of strategic collaboration to extend its reach, most notably through its partnership with Janssen Biotech, a subsidiary of Johnson & Johnson.
The company’s lead asset, ciltacabtagene autoleucel (commercially marketed as Carvykti), is a B-cell maturation antigen (BCMA)–directed CAR-T therapy for the treatment of relapsed or refractory multiple myeloma.
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