Legend Biotech Co. (NASDAQ:LEGN - Get Free Report)'s stock price dropped 9.3% during trading on Monday . The stock traded as low as $30.17 and last traded at $30.50. Approximately 130,169 shares were traded during trading, a decline of 90% from the average daily volume of 1,354,237 shares. The stock had previously closed at $33.62.
Analyst Ratings Changes
LEGN has been the topic of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $83.00 price objective on shares of Legend Biotech in a report on Monday, December 9th. Royal Bank of Canada restated an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a research note on Monday, December 9th. Redburn Atlantic began coverage on Legend Biotech in a research note on Tuesday, October 8th. They set a "buy" rating and a $86.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $73.00 target price on shares of Legend Biotech in a report on Tuesday, December 10th. Finally, Piper Sandler restated an "overweight" rating and set a $78.00 price target on shares of Legend Biotech in a report on Monday, December 30th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $80.62.
View Our Latest Analysis on Legend Biotech
Legend Biotech Price Performance
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 company has a market capitalization of $5.76 billion, a P/E ratio of -33.19 and a beta of 0.16. The firm has a fifty day moving average of $37.27 and a 200 day moving average of $46.30.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($0.56) by $0.22. The firm had revenue of $160.20 million during the quarter, compared to analyst estimates of $143.91 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. The business's revenue for the quarter was up 66.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) earnings per share. On average, equities research analysts anticipate that Legend Biotech Co. will post -1.23 EPS for the current year.
Institutional Investors Weigh In On Legend Biotech
A number of hedge funds have recently added to or reduced their stakes in LEGN. FMR LLC boosted its position in Legend Biotech by 4.0% in the third quarter. FMR LLC now owns 18,330,219 shares of the company's stock worth $893,232,000 after purchasing an additional 708,620 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Legend Biotech by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,275,158 shares of the company's stock valued at $110,868,000 after purchasing an additional 314,449 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Legend Biotech in the 2nd quarter worth approximately $13,487,000. Westfield Capital Management Co. LP boosted its holdings in shares of Legend Biotech by 5.6% in the third quarter. Westfield Capital Management Co. LP now owns 5,038,505 shares of the company's stock worth $245,526,000 after buying an additional 266,296 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Legend Biotech in the third quarter worth approximately $12,837,000. 70.89% of the stock is currently owned by hedge funds and other institutional investors.
About Legend Biotech
(
Get Free Report)
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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