Northern Trust Corp Purchases 1,943 Shares of Legend Biotech Corporation Sponsored ADR $LEGN

Northern Trust Corp lifted its position in shares of Legend Biotech Corporation Sponsored ADR (NASDAQ:LEGN) by 0.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 286,621 shares of the company’s stock after acquiring an additional 1,943 shares during the quarter. Northern Trust Corp’s holdings in Legend Biotech were worth $9,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group grew its stake in shares of Legend Biotech by 1,114.8% during the 1st 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. Public Sector Pension Investment Board grew its stake in shares of Legend Biotech by 17.8% during the 1st quarter. Public Sector Pension Investment Board now owns 27,789 shares of the company’s stock worth $943,000 after acquiring an additional 4,200 shares during the period. Nuveen LLC purchased a new stake in Legend Biotech during the 1st quarter worth about $5,774,000. National Bank of Canada FI purchased a new stake in Legend Biotech during the 1st quarter worth about $7,129,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Legend Biotech by 1.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 55,610 shares of the company’s stock worth $1,887,000 after purchasing an additional 579 shares in the last quarter. Institutional investors own 70.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Legend Biotech in a report on Thursday, July 17th. Johnson Rice reissued a “buy” rating on shares of Legend Biotech in a report on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on Legend Biotech from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $66.00 price objective on shares of Legend Biotech in a report on Wednesday, August 27th. Finally, Morgan Stanley increased their price objective on Legend Biotech from $81.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, August 12th. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.22.

Legend Biotech Stock Performance

Shares of NASDAQ LEGN opened at $36.08 on Friday. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of -41.00 and a beta of 0.28. The company has a current ratio of 4.71, a quick ratio of 4.57 and a debt-to-equity ratio of 0.30. Legend Biotech Corporation Sponsored ADR has a 1-year low of $27.34 and a 1-year high of $54.31. The stock’s 50-day moving average is $37.91 and its 200 day moving average is $35.05.

Legend Biotech (NASDAQ:LEGN) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.12). The firm had revenue of $255.06 million for the quarter, compared to analysts’ expectations of $237.49 million. Legend Biotech had a negative net margin of 40.83% and a negative return on equity of 32.00%. The business’s quarterly revenue was up 36.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, sell-side analysts anticipate that Legend Biotech Corporation Sponsored ADR will post -1.31 EPS for the current fiscal year.

Legend Biotech 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).