Massachusetts Financial Services Co. MA grew its stake in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 16.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,275,158 shares of the company's stock after acquiring an additional 314,449 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.25% of Legend Biotech worth $110,868,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in LEGN. Blue Trust Inc. raised its holdings in Legend Biotech by 10,075.0% in the second quarter. Blue Trust Inc. now owns 814 shares of the company's stock worth $36,000 after purchasing an additional 806 shares in the last quarter. American International Group Inc. lifted its position in Legend Biotech by 50.0% during the first quarter. American International Group Inc. now owns 900 shares of the company's stock valued at $50,000 after acquiring an additional 300 shares during the last quarter. AM Squared Ltd acquired a new stake in Legend Biotech in the second quarter valued at approximately $71,000. California State Teachers Retirement System lifted its holdings in shares of Legend Biotech by 196.3% during the 1st quarter. California State Teachers Retirement System now owns 3,345 shares of the company's stock valued at $188,000 after purchasing an additional 2,216 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Legend Biotech in the 3rd quarter worth $212,000. 70.89% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
LEGN has been the subject of a number of research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $73.00 price target on shares of Legend Biotech in a research note on Wednesday, November 13th. Scotiabank lifted 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 note on Monday, August 12th. Royal Bank of Canada restated an "outperform" rating and set a $86.00 price target on shares of Legend Biotech in a research note on Tuesday, October 29th. Finally, Redburn Atlantic began coverage on shares of Legend Biotech in a report on Tuesday, October 8th. They issued a "buy" rating and a $86.00 price target for the company. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $81.46.
Check Out Our Latest Report on LEGN
Legend Biotech Stock Performance
Shares of LEGN stock traded up $1.19 on Friday, hitting $40.94. The company had a trading volume of 1,627,393 shares, compared to its average volume of 1,626,585. Legend Biotech Co. has a twelve month low of $36.92 and a twelve month high of $70.13. The company has a quick ratio of 4.90, a current ratio of 4.98 and a debt-to-equity ratio of 0.27. The firm has a market cap of $7.46 billion, a P/E ratio of -43.09 and a beta of 0.11. The company has a 50-day moving average price of $44.92 and a 200-day moving average price of $48.07.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.22. Legend Biotech had a negative return on equity of 29.69% and a negative net margin of 66.92%. The business had revenue of $160.20 million for the quarter, compared to analyst estimates of $143.91 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. The business's quarterly revenue was up 66.9% compared to the same quarter last year. As a group, equities research analysts predict that Legend Biotech Co. will post -1.23 earnings per share for the current fiscal year.
Legend Biotech Company Profile
(
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
Before you consider Legend Biotech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Legend Biotech wasn't on the list.
While Legend Biotech currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
