Legend Biotech Co. (NASDAQ:LEGN) Receives $79.00 Average Price Target from Brokerages

Shares of Legend Biotech Co. (NASDAQ:LEGN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $79.00.

LEGN has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $83.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. Morgan Stanley dropped their price target on Legend Biotech from $82.00 to $80.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $78.00 target price on shares of Legend Biotech in a research report on Monday, December 30th. Finally, HC Wainwright upped their price objective on Legend Biotech from $73.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th.

Legend Biotech Trading Down 0.7 %

Legend Biotech stock traded down $0.24 during mid-day trading on Tuesday, reaching $35.16. 89,526 shares of the company traded hands, compared to its average volume of 1,208,889. Legend Biotech has a 52-week low of $30.17 and a 52-week high of $60.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. The firm's 50 day moving average price is $36.39 and its 200 day moving average price is $39.77. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of -37.00 and a beta of 0.19.

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Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.46. The company had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The firm's revenue was up 134.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.40) earnings per share. On average, analysts anticipate that Legend Biotech will post -1.31 earnings per share for the current fiscal year.

Institutional Trading of Legend Biotech

A number of institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Legend Biotech in the fourth quarter worth approximately $56,000. Signaturefd LLC increased its position in Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company's stock valued at $56,000 after purchasing an additional 1,579 shares during the period. Shell Asset Management Co. raised its holdings in shares of Legend Biotech by 62.0% in the 4th quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock valued at $68,000 after purchasing an additional 800 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Legend Biotech in the 4th quarter worth approximately $77,000. Finally, Quantbot Technologies LP bought a new position in shares of Legend Biotech during the third quarter valued at approximately $148,000. 70.89% of the stock is currently owned by institutional investors.

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).