Legend Biotech (NASDAQ:LEGN) Given a $54.00 Price Target by UBS Group Analysts

Legend Biotech (NASDAQ:LEGN) has been given a $54.00 price objective by equities research analysts at UBS Group in a research report issued on Wednesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 52.76% from the company’s current price.

A number of other brokerages have also weighed in on LEGN. Guggenheim reiterated a “neutral” rating on shares of Legend Biotech in a report on Wednesday, March 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 target price on shares of Legend Biotech in a report on Wednesday, May 14th. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of Legend Biotech in a research report on Wednesday, April 16th. Truist Financial cut their price objective on Legend Biotech from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Finally, Morgan Stanley reduced their price objective on Legend Biotech from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Legend Biotech currently has a consensus rating of “Moderate Buy” and an average price target of $72.60.

Legend Biotech Stock Performance

NASDAQ LEGN opened at $35.35 on Wednesday. The company has a quick ratio of 5.07, a current ratio of 5.20 and a debt-to-equity ratio of 0.30. Legend Biotech has a fifty-two week low of $27.34 and a fifty-two week high of $60.87. The business has a fifty day moving average of $32.53 and a 200-day moving average of $33.99. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of -59.91 and a beta of 0.19.

Legend Biotech (NASDAQ:LEGN) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.33. The firm had revenue of $195.05 million during the quarter, compared to analysts’ expectations of $190.83 million. Legend Biotech had a negative return on equity of 21.19% and a negative net margin of 29.95%. The firm’s quarterly revenue was up 107.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) EPS. As a group, analysts predict that Legend Biotech will post -1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Legend Biotech

Hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. increased its position in shares of Legend Biotech by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,092 shares of the company’s stock worth $71,000 after purchasing an additional 377 shares during the last quarter. Rhumbline Advisers grew its stake in Legend Biotech by 1.4% in the first quarter. Rhumbline Advisers now owns 28,029 shares of the company’s stock worth $951,000 after purchasing an additional 391 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Legend Biotech by 1.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,610 shares of the company’s stock valued at $1,887,000 after buying an additional 579 shares during the last quarter. GAMMA Investing LLC raised its stake in Legend Biotech by 145.4% during the first quarter. GAMMA Investing LLC now owns 1,291 shares of the company’s stock valued at $44,000 after buying an additional 765 shares in the last quarter. Finally, Shell Asset Management Co. raised its stake 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 buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 70.89% of the company’s stock.

Legend Biotech Company Profile

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).