Legend Biotech (NASDAQ:LEGN) Given Overweight Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of Legend Biotech (NASDAQ:LEGN - Free Report) in a research note published on Monday,Benzinga reports. The brokerage currently has a $78.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada restated an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Redburn Atlantic initiated coverage on shares of Legend Biotech in a research note on Tuesday, October 8th. They issued a "buy" rating and a $86.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $73.00 price target on shares of Legend Biotech in a research report on Tuesday, December 10th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $83.00 price objective on shares of Legend Biotech in a research report on Monday, December 9th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $80.62.

Legend Biotech Stock Up 0.9 %

Shares of LEGN stock traded up $0.28 on Monday, hitting $32.77. The stock had a trading volume of 1,096,631 shares, compared to its average volume of 1,138,885. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. Legend Biotech has a one year low of $32.08 and a one year high of $70.13. The business has a 50 day moving average price of $39.95 and a 200 day moving average price of $47.09. The company has a market cap of $5.98 billion, a PE ratio of -34.49 and a beta of 0.08.

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

Institutional Investors Weigh In On Legend Biotech

Institutional investors and hedge funds have recently modified their holdings of the company. Avior Wealth Management LLC raised its position in Legend Biotech by 3.0% during the 3rd quarter. Avior Wealth Management LLC now owns 11,097 shares of the company's stock worth $541,000 after buying an additional 323 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Legend Biotech by 1.6% in the second quarter. Public Sector Pension Investment Board now owns 24,689 shares of the company's stock worth $1,093,000 after acquiring an additional 400 shares during the period. Bridgewater Associates LP raised its holdings in shares of Legend Biotech by 0.3% during the third quarter. Bridgewater Associates LP now owns 165,975 shares of the company's stock worth $8,088,000 after purchasing an additional 516 shares during the last quarter. Sei Investments Co. lifted its position in Legend Biotech by 1.5% during the second quarter. Sei Investments Co. now owns 46,492 shares of the company's stock valued at $2,059,000 after purchasing an additional 702 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Legend Biotech by 14.0% in the third quarter. Advisors Asset Management Inc. now owns 6,812 shares of the company's stock valued at $332,000 after purchasing an additional 837 shares during the last quarter. Institutional investors and hedge funds own 70.89% of the company's stock.

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).