Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) Receives $73.33 Average Target Price from Analysts

Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) has earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $73.33.

Several brokerages recently weighed in on LEGN. Morgan Stanley restated an “overweight” rating and set a $81.00 target price (up from $80.00) on shares of Legend Biotech in a research note on Thursday, July 10th. Truist Financial cut their price objective on shares of Legend Biotech from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of Legend Biotech in a research report on Wednesday, May 14th. Royal Bank Of Canada reissued an “outperform” rating and set a $84.00 target price on shares of Legend Biotech in a research report on Tuesday, April 22nd. Finally, HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of Legend Biotech in a research note on Thursday, July 17th.

Legend Biotech Stock Performance

Shares of Legend Biotech stock opened at $40.41 on Monday. Legend Biotech has a one year low of $27.34 and a one year high of $59.62. The company has a market capitalization of $7.43 billion, a PE ratio of -68.49 and a beta of 0.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.07 and a current ratio of 5.20. The company has a 50-day simple moving average of $35.94 and a two-hundred day simple moving average of $34.91.

Legend Biotech (NASDAQ:LEGN) last announced its earnings results on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.33. The company had revenue of $195.05 million during the quarter, compared to the consensus estimate of $190.83 million. Legend Biotech had a negative net margin of 29.95% and a negative return on equity of 21.19%. Legend Biotech’s revenue was up 107.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) earnings per share. Research analysts expect that Legend Biotech will post -1.31 EPS for the current fiscal year.

Institutional Trading of Legend Biotech

Several large investors have recently made changes to their positions in LEGN. GAMMA Investing LLC raised its holdings in shares of Legend Biotech by 145.4% during the first quarter. GAMMA Investing LLC now owns 1,291 shares of the company’s stock worth $44,000 after purchasing an additional 765 shares during the last quarter. Quarry LP acquired a new position in shares of Legend Biotech in the 1st quarter valued at about $48,000. GF Fund Management CO. LTD. acquired a new position in shares of Legend Biotech in the 4th quarter valued at about $56,000. Brooklyn Investment Group grew its holdings in Legend Biotech by 1,114.8% during the first quarter. Brooklyn Investment Group now owns 1,725 shares of the company’s stock worth $59,000 after acquiring an additional 1,583 shares during the period. Finally, Shell Asset Management Co. grew 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 worth $68,000 after acquiring an additional 800 shares during the period. 70.89% of the stock is owned by hedge funds and other institutional investors.

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).