Prudential PLC Acquires 12,744 Shares of Legend Biotech Co. (NASDAQ:LEGN)

Prudential PLC lifted its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 47.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,566 shares of the company's stock after purchasing an additional 12,744 shares during the period. Prudential PLC's holdings in Legend Biotech were worth $1,287,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LEGN. Artisan Partners Limited Partnership increased its stake in Legend Biotech by 155.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,505,562 shares of the company's stock valued at $48,991,000 after purchasing an additional 915,891 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Legend Biotech by 176.0% in the 4th quarter. JPMorgan Chase & Co. now owns 998,016 shares of the company's stock valued at $32,475,000 after buying an additional 636,390 shares during the period. IvyRock Asset Management HK Ltd raised its stake in Legend Biotech by 3,827.9% during the 4th quarter. IvyRock Asset Management HK Ltd now owns 267,100 shares of the company's stock worth $8,691,000 after buying an additional 260,300 shares during the period. Franklin Resources Inc. bought a new position in Legend Biotech during the third quarter worth about $12,837,000. Finally, Los Angeles Capital Management LLC bought a new position in Legend Biotech during the fourth quarter worth about $5,611,000. 70.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LEGN has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $78.00 price target on shares of Legend Biotech in a research report on Monday, December 30th. HC Wainwright restated a "buy" rating and set a $75.00 target price on shares of Legend Biotech in a report on Tuesday, April 8th. Morgan Stanley reduced their price target on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Finally, Guggenheim restated a "neutral" rating on shares of Legend Biotech in a report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Legend Biotech has a consensus rating of "Moderate Buy" and a consensus target price of $79.00.

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Legend Biotech Stock Up 2.3 %

LEGN stock traded up $0.72 during midday trading on Friday, hitting $32.00. The company's stock had a trading volume of 1,638,571 shares, compared to its average volume of 1,222,632. The company's fifty day moving average price is $35.32 and its 200 day moving average price is $38.18. Legend Biotech Co. has a twelve month low of $29.27 and a twelve month 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 stock has a market capitalization of $5.88 billion, a P/E ratio of -33.68 and a beta of 0.21.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.46. The business 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%. Legend Biotech's revenue was up 134.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.40) earnings per share. As a group, equities research analysts predict that Legend Biotech Co. will post -1.31 EPS for the current year.

Legend Biotech Company Profile

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).