Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $55.79.
LEGN has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $65.00 price objective on shares of Legend Biotech in a report on Monday. Oppenheimer downgraded shares of Legend Biotech from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $75.00 to $40.00 in a research note on Wednesday, August 12th. Weiss Ratings lowered shares of Legend Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 16th. TD Cowen dropped their price target on shares of Legend Biotech from $29.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, August 12th. Finally, Raymond James Financial restated an “outperform” rating and set a $58.00 price target on shares of Legend Biotech in a report on Monday, July 27th.
Get Our Latest Stock Analysis on Legend Biotech
Insider Transactions at Legend Biotech
Hedge Funds Weigh In On Legend Biotech
A number of hedge funds have recently modified their holdings of LEGN. Westfield Capital Management Co. LP raised its holdings in Legend Biotech by 1.2% in the 4th quarter. Westfield Capital Management Co. LP now owns 6,164,677 shares of the company’s stock valued at $134,020,000 after buying an additional 70,191 shares during the period. Assenagon Asset Management S.A. purchased a new position in Legend Biotech during the second quarter worth about $55,307,000. Squarepoint Ops LLC increased its position in shares of Legend Biotech by 60.4% during the second quarter. Squarepoint Ops LLC now owns 769,252 shares of the company’s stock valued at $22,216,000 after acquiring an additional 289,772 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Legend Biotech by 44.1% during the first quarter. SG Americas Securities LLC now owns 535,658 shares of the company’s stock valued at $9,690,000 after acquiring an additional 163,930 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Legend Biotech by 29.5% in the 1st quarter. Renaissance Technologies LLC now owns 521,800 shares of the company’s stock valued at $9,439,000 after acquiring an additional 119,000 shares during the period. 70.89% of the stock is currently owned by hedge funds and other institutional investors.
Legend Biotech Stock Performance
NASDAQ LEGN opened at $19.89 on Friday. The stock’s fifty day moving average is $19.99 and its two-hundred day moving average is $23.57. The firm has a market capitalization of $3.85 billion, a P/E ratio of -79.56 and a beta of 0.40. Legend Biotech has a fifty-two week low of $16.24 and a fifty-two week high of $37.50.
Legend Biotech (NASDAQ:LEGN – Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Legend Biotech had a negative return on equity of 8.71% and a negative net margin of 7.21%.The company had revenue of $387.50 million during the quarter, compared to analysts’ expectations of $355.96 million. During the same period in the prior year, the business earned $0.03 EPS. The firm’s quarterly revenue was up 51.9% on a year-over-year basis. As a group, sell-side analysts forecast that Legend Biotech will post -0.09 EPS for the current year.
Legend Biotech Company Profile
Legend Biotech Corporation (NASDAQ: LEGN) is a biotechnology company focused on developing, manufacturing and commercializing cell therapies for cancer and other serious diseases. Its research centers on chimeric antigen receptor T-cell (CAR-T) therapies, which use genetically modified immune cells to recognize and attack cancer cells.
The company’s leading product is Carvykti (ciltacabtagene autoleucel), a B-cell maturation antigen (BCMA)-directed CAR-T therapy for certain adults with relapsed or refractory multiple myeloma.
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