Legend Biotech Co. (NASDAQ:LEGN - Get Free Report) shares shot up 8% during trading on Tuesday . The stock traded as high as $36.91 and last traded at $36.74. 458,105 shares changed hands during trading, a decline of 61% from the average session volume of 1,179,024 shares. The stock had previously closed at $34.03.
Wall Street Analyst Weigh In
LEGN has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a report on Monday, December 9th. Cantor Fitzgerald reiterated an "overweight" rating and set a $83.00 target price on shares of Legend Biotech in a research report on Monday, December 9th. HC Wainwright reaffirmed a "buy" rating and set a $73.00 price objective on shares of Legend Biotech in a report on Tuesday, January 21st. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $78.00 price target on shares of Legend Biotech in a research note on Monday, December 30th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $79.50.
Get Our Latest Analysis on Legend Biotech
Legend Biotech Stock Performance
The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.90 and a current ratio of 4.98. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of -39.15 and a beta of 0.19. The company's fifty day simple moving average is $35.38 and its two-hundred day simple moving average is $41.28.
Institutional Investors Weigh In On Legend Biotech
Institutional investors and hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new position in shares of Legend Biotech in the 4th quarter valued at about $56,000. Signaturefd LLC raised its stake in Legend Biotech by 1,052.7% during the 4th quarter. Signaturefd LLC now owns 1,729 shares of the company's stock valued at $56,000 after purchasing an additional 1,579 shares during the last quarter. Shell Asset Management Co. boosted its holdings in Legend Biotech by 62.0% during the fourth quarter. Shell Asset Management Co. now owns 2,090 shares of the company's stock valued at $68,000 after purchasing an additional 800 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Legend Biotech in the 4th quarter valued at $77,000. Finally, Quantbot Technologies LP acquired a new stake in Legend Biotech during the 3rd quarter valued at $148,000. 70.89% of the stock is owned by institutional investors and hedge funds.
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).
Further Reading
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