Legend Biotech Co. (NASDAQ:LEGN) Stake Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in Legend Biotech Co. (NASDAQ:LEGN - Free Report) by 38.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 121,377 shares of the company's stock after acquiring an additional 33,585 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of Legend Biotech worth $5,915,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LEGN. Blue Trust Inc. boosted its stake in shares of Legend Biotech by 10,075.0% during the second quarter. Blue Trust Inc. now owns 814 shares of the company's stock worth $36,000 after buying an additional 806 shares during the period. American International Group Inc. increased its position in Legend Biotech by 50.0% during the 1st quarter. American International Group Inc. now owns 900 shares of the company's stock worth $50,000 after purchasing an additional 300 shares during the period. AM Squared Ltd purchased a new position in Legend Biotech in the second quarter worth $71,000. California State Teachers Retirement System boosted its holdings in Legend Biotech by 196.3% during the first quarter. California State Teachers Retirement System now owns 3,345 shares of the company's stock worth $188,000 after buying an additional 2,216 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Legend Biotech during the 3rd quarter valued at approximately $212,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LEGN shares. Royal Bank of Canada restated an "outperform" rating and issued a $86.00 price target on shares of Legend Biotech in a report on Tuesday, October 29th. HC Wainwright restated a "buy" rating and set a $73.00 target price on shares of Legend Biotech in a report on Wednesday, November 13th. Redburn Atlantic initiated coverage on Legend Biotech in a report on Tuesday, October 8th. They set a "buy" rating and a $86.00 target price on the stock. Finally, Scotiabank upped their target price on shares of Legend Biotech from $70.00 to $76.00 and gave the company a "sector outperform" rating in a report on Monday, August 12th. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $81.46.

Legend Biotech Trading Up 3.0 %

LEGN stock traded up $1.19 during trading on Friday, reaching $40.94. 1,627,393 shares of the stock traded hands, compared to its average volume of 1,626,585. The business's 50 day moving average price is $44.92 and its 200-day moving average price is $48.07. The firm has a market capitalization of $7.46 billion, a PE ratio of -43.09 and a beta of 0.11. 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 Co. has a 52-week low of $36.92 and a 52-week high of $70.13.

Legend Biotech (NASDAQ:LEGN - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.22. Legend Biotech had a negative net margin of 66.92% and a negative return on equity of 29.69%. 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 previous year, the business posted ($0.17) EPS. The business's quarterly revenue was up 66.9% on a year-over-year basis. As a group, sell-side analysts forecast that Legend Biotech Co. will post -1.23 earnings per share for the current year.

About Legend Biotech

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).