Legend Biotech Co. (NASDAQ:LEGN - Get Free Report) dropped 1.8% on Friday . The company traded as low as $37.47 and last traded at $37.36. Approximately 108,480 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,178,434 shares. The stock had previously closed at $38.05.
Wall Street Analyst Weigh In
LEGN has been the subject of a number of research analyst reports. Guggenheim reaffirmed a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. HC Wainwright boosted their target price on shares of Legend Biotech from $73.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, March 12th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $86.00 target price on shares of Legend Biotech in a research note on Monday, December 9th. Morgan Stanley dropped their target price on shares of Legend Biotech from $82.00 to $80.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $78.00 target price on shares of Legend Biotech in a research note on Monday, December 30th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $79.17.
View Our Latest Analysis on Legend Biotech
Legend Biotech Price Performance
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 cap of $6.94 billion, a P/E ratio of -39.98 and a beta of 0.19. The company's 50 day simple moving average is $35.75 and its 200 day simple moving average is $40.61.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its earnings results on Tuesday, March 11th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.39) by $0.46. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The firm had revenue of $186.50 million during the quarter, compared to the consensus estimate of $179.00 million. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. The business's quarterly revenue was up 134.6% on a year-over-year basis. As a group, equities analysts forecast that Legend Biotech Co. will post -1.31 earnings per share for the current year.
Institutional Investors Weigh In On Legend Biotech
Several large investors have recently bought and sold shares of the company. Lansforsakringar Fondforvaltning AB publ bought a new stake in Legend Biotech in the fourth quarter valued at approximately $914,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Legend Biotech in the fourth quarter valued at approximately $776,000. Polar Asset Management Partners Inc. boosted its holdings in shares of Legend Biotech by 65.8% in the fourth quarter. Polar Asset Management Partners Inc. now owns 24,638 shares of the company's stock valued at $802,000 after buying an additional 9,779 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Legend Biotech in the fourth quarter valued at approximately $56,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Legend Biotech by 36.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 136,438 shares of the company's stock valued at $4,440,000 after buying an additional 36,181 shares during the period. Institutional investors own 70.89% of the company's stock.
Legend Biotech Company Profile
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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).
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