Westfield Capital Management Co. LP Raises Stock Holdings in Legend Biotech Co. (NASDAQ:LEGN)

Westfield Capital Management Co. LP lifted its holdings in shares of Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,038,505 shares of the company's stock after purchasing an additional 266,296 shares during the quarter. Legend Biotech accounts for approximately 1.1% of Westfield Capital Management Co. LP's portfolio, making the stock its 14th largest position. Westfield Capital Management Co. LP owned about 2.76% of Legend Biotech worth $245,526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in shares of Legend Biotech by 8.0% in the first quarter. Janus Henderson Group PLC now owns 2,014,012 shares of the company's stock worth $112,982,000 after buying an additional 148,855 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Legend Biotech by 1.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,949,120 shares of the company's stock worth $614,137,000 after purchasing an additional 140,904 shares during the period. Hsbc Holdings PLC lifted its position in Legend Biotech by 9.9% in the second quarter. Hsbc Holdings PLC now owns 232,560 shares of the company's stock valued at $10,296,000 after purchasing an additional 20,910 shares during the last quarter. Empire Life Investments Inc. boosted its stake in shares of Legend Biotech by 75.2% during the third quarter. Empire Life Investments Inc. now owns 98,688 shares of the company's stock valued at $4,809,000 after purchasing an additional 42,368 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Legend Biotech by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 177,227 shares of the company's stock worth $8,636,000 after purchasing an additional 14,672 shares during the last quarter. 70.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LEGN. Redburn Atlantic started coverage on Legend Biotech in a research report on Tuesday, October 8th. They issued a "buy" rating and a $86.00 price objective on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a report on Tuesday, October 29th. HC Wainwright restated a "buy" rating and issued a $73.00 price objective on shares of Legend Biotech in a report on Wednesday, November 13th. Finally, Scotiabank raised their target price on shares of Legend Biotech from $70.00 to $76.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 12th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $81.46.

Legend Biotech Trading Up 3.0 %

Shares of NASDAQ:LEGN traded up $1.19 during trading on Friday, reaching $40.94. The company's stock had a trading volume of 1,627,393 shares, compared to its average volume of 1,626,585. The stock has a market capitalization of $7.46 billion, a PE ratio of -43.09 and a beta of 0.11. The company has a current ratio of 4.98, a quick ratio of 4.90 and a debt-to-equity ratio of 0.27. The firm's 50 day simple moving average is $44.92 and its two-hundred day simple moving average is $48.07. Legend Biotech Co. has a 12 month low of $36.92 and a 12 month high of $70.13.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($0.56) by $0.22. The firm had revenue of $160.20 million for the quarter, compared to analysts' expectations of $143.91 million. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The company's quarterly revenue was up 66.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. On average, research analysts predict that Legend Biotech Co. will post -1.23 EPS for the current fiscal 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).