Legend Biotech (NASDAQ:LEGN - Get Free Report) had its price target decreased by equities research analysts at Morgan Stanley from $82.00 to $80.00 in a report released on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 116.51% from the company's previous close.
Other analysts also recently issued research reports about the company. HC Wainwright boosted their price target on Legend Biotech from $73.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, March 12th. Cantor Fitzgerald reissued an "overweight" rating and set a $83.00 price target on shares of Legend Biotech in a research report on Monday, December 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $78.00 price target on shares of Legend Biotech in a report on Monday, December 30th. Guggenheim reiterated a "neutral" rating on shares of Legend Biotech in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $86.00 target price on shares of Legend Biotech in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $79.00.
View Our Latest Analysis on Legend Biotech
Legend Biotech Stock Down 2.0 %
NASDAQ LEGN traded down $0.77 on Monday, hitting $36.95. The stock had a trading volume of 1,432,612 shares, compared to its average volume of 1,164,157. The business's fifty day moving average price is $36.04 and its 200 day moving average price is $40.44. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of -38.89 and a beta of 0.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.98 and a quick ratio of 4.90. Legend Biotech has a 52-week low of $30.17 and a 52-week high of $60.90.
Legend Biotech (NASDAQ:LEGN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.46. The business had revenue of $186.50 million for the quarter, compared to analyst estimates of $179.00 million. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. Legend Biotech's revenue for the quarter was up 134.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.40) EPS. Equities research analysts anticipate that Legend Biotech will post -1.31 earnings per share for the current year.
Institutional Trading of Legend Biotech
A number of institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Legend Biotech by 9.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 177,227 shares of the company's stock valued at $8,636,000 after buying an additional 14,672 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Legend Biotech by 38.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 121,377 shares of the company's stock valued at $5,915,000 after acquiring an additional 33,585 shares during the last quarter. Swiss National Bank lifted its stake in Legend Biotech by 3.3% in the 3rd quarter. Swiss National Bank now owns 165,194 shares of the company's stock worth $8,050,000 after purchasing an additional 5,200 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of Legend Biotech by 3.0% in the third quarter. Avior Wealth Management LLC now owns 11,097 shares of the company's stock valued at $541,000 after purchasing an additional 323 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Legend Biotech in the third quarter valued at approximately $316,000. 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).
See Also
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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
